BRE.L Regulatory News (BRE)

17 Oct 2007 10:10

Brit Insurance Holdings PLC17 October 2007 Brit Insurance Holdings PLC 17 October 2007 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 16 October 2007 the Company granted awards of nil cost options ("Awards")under the Brit Performance Share Plan 2003 ("the PSP") as follows: Executive Directors Name PSP Award (number of Total options and awards Beneficial shares under option) now held (number of interest in shares) shares (number of shares)D J Douetil 149,446 1,091,379 523,214K M Lisson 93,558 281,643 17,294M Scales 101,238 802,580 207,332 PDMR's Name PSP Award (number of shares under option) R A Field 89,416P J Goddard 73,397M A Sibthorpe 82,822J R Turner 76,687 Awards granted under the PSP will normally vest and become exercisable on 16October 2010, but only to the extent that certain performance criteria aresatisfied by the Company over a three year performance period commencing 1January 2007. 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. Vanessa JonesInterim Deputy SecretaryBrit Insurance Holdings PLCTel: 020 7098 6963 This information is provided by RNS The company news service from the London Stock Exchange