BRE.L Regulatory News (BRE)

11 Mar 2008 17:23

Brit Insurance Holdings PLC11 March 2008 Brit Insurance Holdings PLC 11 March 2008 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 10 March 2008 the Company granted awards of nil cost options ("Awards") underthe Brit Performance Share Plan 2003 ("the PSP") as follows: Executive Directors Name PSP Award (number of Total options and awards Beneficial interest shares under option) now held (number of in shares (number shares) of shares) D J Douetil 122,103 915,967 535,820K M Lisson 76,441 375,750 17,494M Scales 82,715 603,126 219,094 PDMR's Name PSP Award (number of shares under option) P Burrows 65,162P J Goddard 59,969M A Sibthorpe 67,669J R Turner 62,656 Awards granted under the PSP will normally vest and become exercisable on 10March 2011, but only to the extent that certain performance criteria aresatisfied by the Company over a three year performance period commencing 1January 2008. 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. Peter GoddardCompany SecretaryBrit Insurance Holdings PLCTel: 020 7984 8741 This information is provided by RNS The company news service from the London Stock Exchange