BRE.L Regulatory News (BRE)

9 May 2008 09:08

Brit Insurance Holdings PLC09 May 2008 09 May 2008 BRIT INSURANCE HOLDINGS PLC EMPLOYEE SHARE OWNERSHIP PLAN ("the ESOP") Brit Insurance Holdings PLC ("Brit Insurance" or "the Company"), theUK-domiciled international general insurance and reinsurance group, confirmsthat this disclosure relates to a single transaction of which notification wasreceived under Paragraph 3.1.2 of the Disclosure and Transparency Rules. The ESOP is a HM Revenue and Customs approved trust arrangement, operatedthrough Equiniti Share Plan Trustees Limited ("the Trustees"), under whichemployees are able to buy ordinary shares of 75 pence each in the Company("partnership shares"), using monthly deductions from salary, and receive freeordinary shares of 75 pence each in the Company ("matching shares") on the basisof one matching share for every two partnership shares purchased. Both thepartnership shares and the matching shares are acquired by and held in the ESOPTrust. The Company has been notified that on 07 May 2008, the following executivedirectors and persons discharging managerial responsibility ("PDMR") of theCompany each purchased 52 partnership shares at a price of 239.75p each andreceived 26 matching shares free of charge. Mr D J Douetil (Director) Mr P J Goddard (PDMR) Mr M Scales (Director) Mr J R Turner (PDMR) The Trustees transferred 0 ordinary shares of 75 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 07 May2008 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 31 ordinary shares of 75 pence each held by Lloyds TSB RegistrarsCorporate Nominee Limited AESOP 2 (unallocated shares). Peter GoddardCompany SecretaryBrit Insurance Holdings PLCTel: 020 7984 8741 This information is provided by RNS The company news service from the London Stock Exchange