9th Jan 2008 09:20
Brit Insurance Holdings PLC09 January 2008 9 January 2008 BRIT INSURANCE HOLDINGS PLC EMPLOYEE SHARE OWNERSHIP PLAN ("the ESOP") Brit Insurance Holdings PLC ("Brit Insurance" or "the Company"), theUK-domiciled international general insurance and reinsurance group, confirmsthat this disclosure relates to a single transaction of which notification wasreceived under Paragraph 3.1.2 of the Disclosure and Transparency Rules. The ESOP is a HM Revenue and Customs approved trust arrangement, operatedthrough Hill Samuel ESOP Trustees Limited ("the Trustees"), under whichemployees are able to buy ordinary shares of 75 pence each in the Company("partnership shares"), using monthly deductions from salary, and receive freeordinary shares of 75 pence each in the Company ("matching shares") on the basisof one matching share for every two partnership shares purchased. Both thepartnership shares and the matching shares are acquired by and held in the ESOPTrust. The Company has been notified that on 8 January 2008, the following executivedirectors and persons discharging managerial responsibility ("PDMR") of theCompany each purchased 56 partnership shares at a price of 224.25p each andreceived 28 matching shares free of charge. Mr D J Douetil (Director)Mr P J Goddard (PDMR)Mr M Scales (Director)Mr M A Sibthorpe (PDMR)Mr J R Turner (PDMR) The Trustees transferred 2,854 ordinary shares of 75 pence each from Lloyds TSBRegistrars Corporate Nominee Limited AESOP 1 (allocated shares) to Lloyds TSBRegistrars Corporate Nominee Limited AESOP 2 (unallocated shares). The transferwas made following the forfeiture of shares, under the ESOP, by participants whohad left the group since the last purchase. Following the transaction on 8January 2008, the executive directors of the Company, who together with otheremployees, are potential participants in the ESOP and are to be treated asinterested in the remaining 860 ordinary shares of 75 pence each held by LloydsTSB Registrars Corporate Nominee Limited AESOP 2 (unallocated shares). Adam WestleyDeputy Company SecretaryBrit Insurance Holdings PLCTel: 020 7984 8970 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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