24th Dec 2007 07:00
Brit Insurance Holdings PLC24 December 2007 Brit Insurance Holdings PLC 24 December 2007 Notification of Interests of Directors and Persons Discharging ManagerialResponsibility ("PDMR") and connected persons Brit Insurance Holdings PLC ("Brit Insurance" or "the Company") the UK-domiciledinternational general insurance and reinsurance group, announces the followingchanges to the interests of Directors and PDMR's in the Company's ordinaryshares of 75p each ("Shares"). On 21 December 2007 the Company granted an award of nil cost options ("Awards")under the Brit Performance Share Plan 2003 ("the PSP") to the following PDMR: Name PSP Award (number of shares under option)P Burrows 57,607 Awards granted under the PSP will normally vest and become exercisable on 21December 2010, but only to the extent that certain performance criteria aresatisfied by the Company over a three year performance period commencing 1January 2007. The Award is subject to two performance conditions. One-half ofthe Award is subject to a performance condition based on the average annualReturn on Equity of the Company over a single period of three financial yearsand two underpins. The other-half of the Award is subject to a performancecondition comparing the Company's total shareholder return against a comparatorgroup of companies over three financial years. No consideration is payable for the grant of Awards and the vesting of Awards isconditional upon meeting the performance criteria. The notification of these Awards is intended to satisfy the Company'sobligations under Disclosure and Transparency Rule 3.1.4. Adam WestleyDeputy SecretaryBrit Insurance Holdings PLCTel: 020 7984 8970 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
BRE.L