Last checked at 28 Feb 2024 07:00
Purchase of Shares by Employee Benefit Trust
Purchase of Shares by Employee Benefit Trust
Pembroke, Bermuda - 28 February 2024
Conduit Holdings Limited
("CHL"; LSE ticker: CRE)
Purchase of Shares by Employee Benefit Trust
CHL, the ultimate parent company of Conduit Re, a pure-play Bermuda-based reinsurance business, was notified on 27 February 2024 by the Trustees of the Conduit Employee Benefit Trust (the "Conduit EBT") that the Trustees had purchased 75,000 shares of USD 0.01 par value each (ISIN Code: BMG243851091) ("Shares") on the London Stock Exchange at a gross price of £5.152 per share. The purchases were made by Panmure Gordon (UK) Limited. The Shares held in the Conduit EBT are intended to be used to satisfy awards made under the CHL employee share schemes.
The Conduit EBT is a discretionary trust for the benefit of employees of CHL and its subsidiaries. The Executive Directors of CHL are included in the class of beneficiaries of the Conduit EBT and are deemed to be interested in those share awards made to them and the dealings thereof.
Following this transaction, a total of 7,558,860 Shares representing 4.574 per cent of CHL's total voting rights is held in the Conduit EBT. Unless specifically directed by CHL, the Conduit EBT Trustee shall abstain from exercising its voting rights over the Shares held by the Conduit EBT at any general meeting of CHL. If CHL directs that the Conduit EBT Trustee may vote, CHL cannot direct the manner in which the Conduit EBT Trustee exercises its votes.
Media contacts
H/Advisors Maitland - Vikki Kosmalska / Genevieve Ryan
+44 (0) 207 379 5151
conduitre@h-advisors.global
Investor relations and other enquiries:
info@conduitreinsurance.com
Panmure Gordon (UK) Limited (Joint Corporate Broker)
+44 (0) 207 886 2500
Berenberg (Joint Corporate Broker)
+44 (0) 203 207 7800
Peel Hunt (Joint Corporate Broker)
+44 (0) 207 418 8900
About Conduit Re
Conduit Re is a pure-play Bermuda-based reinsurance business with global reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent) to Conduit Reinsurance Limited. The outlook assigned to these ratings is stable.
Conduit Holdings Limited is the ultimate parent of Conduit Reinsurance Limited and is listed on the London Stock Exchange (ticker: CRE). References to "Conduit" include Conduit Holdings Limited and all of its subsidiary companies.
Learn more about Conduit Re:
Website: https://conduitreinsurance.com/
LinkedIn: https://www.linkedin.com/company/conduit-re
Neither the content of Conduit's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a regulated information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in Conduit.