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9 Jun 2008 17:10
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9 JuneΒ 2008
BRIT INSURANCE HOLDINGS PLC
EMPLOYEE SHARE OWNERSHIPΒ PLAN ("theΒ ESOP")
Brit Insurance Holdings PLCΒ ("Brit Insurance" or "the Company"), the UK-domiciledΒ international general insurance and reinsurance group,Β confirms that this disclosure relatesΒ toΒ a singleΒ transactionΒ of which notification was received under Paragraph 3.1.2 of the Disclosure and Transparency Rules.
TheΒ ESOPΒ is aΒ HMΒ RevenueΒ and CustomsΒ approved trust arrangement, operated throughΒ Equiniti Share PlanΒ Trustees LimitedΒ ("the Trustees"), under which employees are able to buy ordinary sharesΒ of 75 pence eachΒ inΒ the CompanyΒ ("partnershipΒ shares"), using monthly deductions fromΒ salary, and receive free ordinary sharesΒ of 75 pence eachΒ inΒ the CompanyΒ ("matchingΒ shares")Β on the basis of one matching share for every two partnership shares purchased. Both theΒ partnershipΒ shares and the matching shares areΒ acquired by andΒ held in theΒ ESOP Trust.Β
TheΒ CompanyΒ has been notified that onΒ 6 June 2008Β the following executive directors andΒ persons discharging managerial responsibilityΒ ("PDMR") of the Company each purchasedΒ Β partnership sharesΒ atΒ a price ofΒ 210p eachΒ and receivedΒ matching shares free of charge.
|
Name |
Partnership shares purchased atΒ 210p each |
Matching shares received free ofΒ charge |
|
Mr D J Douetil (Director) |
60 |
30 |
|
Mr P J Goddard (PDMR) |
60 |
30 |
|
Mr M Scales (Director) |
60 |
30 |
|
Mr J R Turner (PDMR) |
59 |
29 |
The Trustees transferred 0 ordinary shares of 75 pence each from Lloyds TSB Registrars Corporate Nominee Limited AESOP 1 (allocated shares) to Lloyds TSB Registrars Corporate Nominee Limited AESOP 2 (unallocated shares). The transfer was made following the forfeiture of shares, under the ESOP, by participants who had left the group since the last purchase. Following the transaction on 06Β JuneΒ 2008 the executive directors of the Company, who together with other employees, are potential participants in the ESOP and are to be treated as interested in the remaining 31 ordinary shares of 75 pence each held by Lloyds TSB Registrars Corporate Nominee Limited AESOP 2 (unallocated shares).
Β
Peter Goddard
CompanyΒ Secretary
Brit Insurance Holdings PLC
Tel:Β 020 7984 8741
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