10th Sep 2007 15:13
BRIT Insurance Holdings PLC10 September 2007 10 September 2007 BRIT INSURANCE HOLDINGS PLC EMPLOYEE SHARE OWNERSHIP PLAN ("the ESOP") Brit Insurance Holdings PLC ("the Company"), the UK-domiciled internationalgeneral insurer and reinsurer, confirms that this disclosure relates to a singletransaction of which notification was received under Paragraph 3.1.2 of theDisclosure Rules and, in respect of the Directors of the Company only, Section324 of the Companies Act 1985. 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 7 September 2007 the following executivedirectors and persons discharging managerial responsibility ("PDMR") of theCompany each purchased 38 partnership shares at a price of 329.25p each andreceived 19 matching shares free of charge. Mr D J Douetil (Director)Mr R A Field (PDMR)Mr P J Goddard (PDMR)Mr M Scales (Director)Mr M A Sibthorpe (PDMR)Mr J R Turner (PDMR) The Trustees transferred 5,488 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 7September 2007, 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 1,425 ordinary shares of 75 pence each held byLloyds TSB Registrars Corporate Nominee Limited AESOP 2 (unallocated shares). Vanessa JonesInterim Deputy SecretaryBrit Insurance Holdings PLCTel: 020 7984 6963 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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