14th Oct 2005 10:26
BRIT Insurance Holdings PLC14 October 2005 For immediate release 14 October 2005 Brit Insurance Holdings PLC Notification of Interests of Directors and Persons Discharging Managerial Responsibility ("PDMR") and connected persons Brit Insurance Holdings PLC ("Brit" or "the Company"), the UK general insurer,announces the following changes to the interests of Directors and PDMRs in theCompany's ordinary shares of 25p each ("Shares"). On 12 October 2005 the Company granted awards of free Shares ("Awards") underthe Brit Performance Share Plan 2003 (the "PSP") and options to acquire Shares("Options") at 83.25 pence per Share under the Brit Executive Share OptionScheme 2003 (the "ESOS"), as follows: Executive Directors Name PSP Award Options Total options and awards Beneficial interest (number) (number) now held (number) in shares (number)D J Douetil 398,205 398,205 3,685,478 936,948M Scales 281,081 281,081 2,819,082 257,817 PDMRs Name PSP Award (number) Options (number)R A Field 229,556 229,556P J Goddard 196,756 196,756K Lisson 100,000 -M A Sibthorpe 202,702 202,702 Awards and Options granted under the PSP and ESOS will normally vest and becomeexercisable on 12 October 2008, but only to the extent that certain performancecriteria are satisfied by the Company over a three year performance periodcommencing 12 October 2005. Details of the performance conditions applying toboth Awards and Options are set out in the Company's Financial Statements forthe year ended 31 December 2004. No consideration is payable for the grant of Awards or Options and the receiptof Shares is conditional upon meeting the performance criteria. The notification of these Awards is intended to satisfy the Company'sobligations under Section 324 of the Companies Act 1985 and Disclosure Rule3.1.4. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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