BRE.L Regulatory News (BRE)

22 Oct 2007 16:37

Brit Insurance Holdings PLC22 October 2007 22 October 2007 BRIT INSURANCE HOLDINGS PLC EMPLOYEE SHARE OWNERSHIP PLAN ("the ESOP") Brit Insurance Holdings PLC ("the Company"), the UK-domiciled internationalgeneral insurance and reinsurance group, confirms that this disclosure relatesto a single transaction of which notification was received under Paragraph 3.1.2of the Disclosure and Transparency Rules. The ESOP is a HM Revenue and Customs approved trust arrangement, operatedthrough Hill Samuel ESOP 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. Under theESOP, the Board may also award ordinary shares of 75 pence each in the Company("free shares") to eligible employees. The partnership shares, matching sharesand free shares are acquired by and held in the ESOP Trust. The Company has been notified that on 19 October 2007, the following executivedirectors and persons discharging managerial responsibility ("PDMR") of theCompany each received 200 free shares under the 2007 ESOP Free Shares Award: Mr D J Douetil (Director)Mr R A Field (PDMR)Mr P J Goddard (PDMR)Mrs K M Lisson (Director)Mr M Scales (Director)Mr M A Sibthorpe (PDMR)Mr J R Turner (PDMR) Following the transaction on 19 October 2007, the executive directors of theCompany, who together with other employees, are potential participants in theESOP and are to be treated as interested in the remaining 935 ordinary shares of75 pence each held by Lloyds TSB Registrars Corporate Nominee Limited AESOP 2(unallocated shares). 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