8th Feb 2006 14:38
BRIT Insurance Holdings PLC08 February 2006 8 February 2006 BRIT INSURANCE HOLDINGS PLC EMPLOYEE SHARE OWNERSHIP PLAN ("the ESOP") Brit Insurance Holdings PLC ("the Company"), the UK-based international generalinsurer 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 an Inland Revenue approved trust arrangement, operated through HillSamuel ESOP Trustees Limited ("the Trustees"), under which employees are able tobuy ordinary shares of 25 pence each in the Company ("partnership shares"),using monthly deductions from salary, and receive free ordinary shares of 25pence each in the Company ("matching shares") on the basis of one matching sharefor every two partnership shares purchased. Both the partnership shares and thematching shares are acquired by and held in the ESOP Trust. The Company has been notified that on 7 February 2006, the following executivedirectors and persons discharging managerial responsibility ("PDMR") of theCompany each purchased partnership shares at a price of 95.5p each and receivedmatching shares free of charge: Name Partnership shares Matching shares received purchased at 95.5p each free of chargeMr D J Douetil 131 65(Director)Mr R A Field 131 65(PDMR)Mr P J Goddard 130 65(PDMR)Mr M Scales 131 65(Director) Mr M A Sibthorpe 131 65(PDMR) The Trustees transferred 1,500 ordinary shares of 25 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 7February 2006, 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 8 ordinary shares of 25 pence each held by LloydsTSB Registrars Corporate Nominee Ltd AESOP 2 (unallocated shares). Lucie Gilbert Deputy Secretary Brit Insurance Holdings PLC Tel: 020 7984 8664 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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