8th Nov 2007 16:22
Brit Insurance Holdings PLC08 November 2007 8 November 2007 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 7 November 2007 the following executivedirectors and persons discharging managerial responsibility ("PDMR") of theCompany each purchased partnership shares at a price of 309p each and receivedmatching shares free of charge. Name Partnership shares purchased Matching shares received free at 309p each of chargeMr D J Douetil 41 20(Director) Mr R A Field (PDMR) 41 20 Mr P J Goddard 40 20(PDMR) Mr M Scales 41 20(Director) Mr M A Sibthorpe 41 20(PDMR) Mr J R Turner 41 20(PDMR) The Trustees transferred 2,371 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 7November 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 806 ordinary shares of 75 pence each held by LloydsTSB Registrars Corporate Nominee Limited AESOP 2 (unallocated shares). Vanessa Jones Interim Deputy Secretary Brit Insurance Holdings PLC Tel: 020 7098 6963 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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