11th Jun 2007 14:48
BRIT Insurance Holdings PLC11 June 2007 11 June 2007 BRIT INSURANCE HOLDINGS PLCEMPLOYEE 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 June 2007, the following executivedirectors and persons discharging managerial responsibility ("PDMR") of theCompany each purchased partnership shares at a price of 342.00p each andreceived matching shares free of charge. Name Partnership shares purchased at Matching shares received 342.00p each free of charge Mr D J Douetil 36 18(Director)Mr R A Field 36 18(PDMR)Mr P J Goddard 37 18(PDMR)Mr M Scales 36 18(Director) Mr M A Sibthorpe 36 18(PDMR) Mr J R Turner 36 18(PDMR) The Trustees transferred 2,872 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 7 June2007, the executive directors of the Company, who together with other employees,are potential participants in the ESOP and are to be treated as interested inthe remaining 429 ordinary shares of 75 pence each held by Lloyds TSB RegistrarsCorporate Nominee Limited AESOP 2 (unallocated shares). Peter GoddardCompany SecretaryBrit Insurance Holdings PLCTel: 020 7984 8741 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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