10th May 2006 11:09
BRIT Insurance Holdings PLC10 May 2006 10 May 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 8 May 2006, the following executivedirectors and persons discharging managerial responsibility ("PDMR") of theCompany each purchased 127 partnership shares at a price of 98.5p each andreceived 63 matching shares free of charge. Mr D J Douetil (Director) Mr R A Field (PDMR) Mr P J Goddard (PDMR) Mr M Scales (Director) Mr M A Sibthorpe (PDMR) The Trustees transferred 5,822 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 8 May2006, 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 547 ordinary shares of 25 pence each held by Lloyds TSB RegistrarsCorporate Nominee Ltd AESOP 2 (unallocated shares). Lucie GilbertDeputy SecretaryBrit Insurance Holdings PLCTel: 020 7984 8664 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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