Castelnau Group Regulatory News (CGL)

17 Mar 2008 12:26

Catlin Group Limited17 March 2008 Catlin Group Limited 14 March 2008 CATLIN GROUP LIMITED (the "Company") DIRECTORS' AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES' SHAREHOLDINGS It is announced that the Company has been notified that directors and personsdischarging managerial responsibilities ("PDMR") have exercised options and beenissued Common Shares in Catlin Group Limited ("Shares") as detailed below. Theoptions were granted in 2005 under the Company's Performance Share Plan ("PSP")and vested on 11 March 2008 as a result of achieving the performance conditionunder the PSP. Name Status Number of PSP Shares issued Date of Date of options exercise Notification exercised Stephen Catlin Director 65,706 65,706 11.03.08 13.03.08 Christopher Director 47,551 47,551 14.03.08 14.03.08Stooke Paul Brand Person 47,551 47,551 14.03.08 14.03.08 discharging managerial responsibilities Paul Jardine Person 47,415 47,415 12.03.08 13.03.08 discharging managerial responsibilities The PSP awards have a nil exercise price. Upon exercise, the following individual sold Shares as set forth below: Name Status Number of Price of Date Shares Date of Shares sold c Shares sold Sold Notification Christopher Director 19,741 425p per Share 14.03.08 14.03.08Stooke Paul Jardine Person 19,741 419p per Share 12.03.08 13.03.08 discharging managerial responsibilities Upon vesting of PSP awards, participants are also entitled to Shares equal invalue to the dividends accrued from the date of the award to the date ofexercise on the Shares underlying the award ("Dividend Shares"). Participantsreceive the Dividend Shares upon the exercise of their options. Dividend Sharesare purchased in the market on or around the date that dividends are paid onShares and are held by the Catlin Group Limited Employee Benefit Trust ("EBT").As a result of the exercise of options described above the directors and PDMRshave received the following Dividend Shares: Name Number of Dividend Shares Stephen Catlin 7,805 Christopher Stooke 5,684 Paul Brand 5,684 Paul Jardine 5,591 The Company has also received notifications today that the trustees of the EBThave acquired Shares as detailed below: Number of Shares purchased Average price paid Date of purchase 145,555 407p per Share 10 March 2008 320,224 409p per Share 11 March 2008 620,150 425p per Share 13 March 2008 Those Shares will be used to satisfy awards under the Group's share schemesincluding the PSP. The individuals listed above, together with two other PDMRs (Richard Banas and Preben Prebensen) all have a potential interest in thoseshares to the extent of their previously announced awards under the PSP. The purchase and sale of Shares takes place over the London Stock Exchange. Thisannouncement is made in accordance with Disclosure Rule 3.1.4 R (1)(a). This information is provided by RNS The company news service from the London Stock Exchange