Orascom Inv Regulatory News (OIH)

7 Apr 2008 07:00

Omega Insurance Holdings Limited07 April 2008 Omega Insurance Holdings Limited7 April 2008 OMEGA INSURANCE HOLDINGS LIMITED Vesting of Shares in favour of Director Richard Tolliday, an executive Director of Omega Insurance Holdings Limited (the"Company"), disclosed to the Company on 6 April 2008 that, on that date, a nilcost restricted award under the Omega Insurance Holdings Limited Long TermIncentive Plan (the "Plan") over 216,312 common shares of US$0.10 each in theCompany vested in favour of Mr. Tolliday. This is a vesting of the final one third of a nil cost restricted award underthe Plan over 648,936 common shares of US$0.10 each in the Company which wasawarded with a deemed grant date of 6 April 2005 under the Plan in equalexchange for rights relinquished under share scheme arrangements operated by theprevious holding company of the Omega group, Omega Underwriting Holdings PLC(the "Previous Plan "), and which vests one third each year over a period ofthree years from 6 April 2005 with the initial one third having vested on 6April 2006 under the Previous Plan, and the second one third having vested on 6April 2007 under the Plan. The vesting will be satisfied by the transfer to Richard Tolliday of 216,312common shares of US$0.10 each formerly held by the trustee of the OmegaInsurance Holdings Limited Employee Share Trust (the "Employee Share Trust"). In addition, nil cost restricted awards under the Plan over 273,996 commonshares of US$0.10 each awarded to other employees of the Company on identicalterms have vested in favour of those employees. These vestings will be satisfied by the transfer to those employees of 273,996common shares of US$0.10 each formerly held by the trustee of the Employee ShareTrust. As previously notified to the Company, Richard Tolliday is the registered holderof 612,624 common shares of US$0.10 each in the capital of the Company and alsoholds options over 5,096,756 common shares of US$0.10 each in the capital of theCompany. Following the vesting of the restricted awards over 216,312 common shares ofUS$0.10 each referred to above, Richard Tolliday will be the registered holderof 828,936 common shares of US$0.10 each in the capital of the Company and alsowill hold options over 4,880,444 common shares of US$0.10 each in the capital ofthe Company. As a result he will continue to be interested in aggregate in5,709,380 common shares of US$0.10 each in the capital of the Company,representing 3.87% of the Company's issued share capital as at 6 April 2008. Enquiries: Omega Insurance Holdings Limited +1 441 299 4984Malcolm Mitchell, Company SecretaryJeremy Gorman, Assistant Company Secretary +44 (0)20 7935 0027 John Coles, Threadneedle Communications +44 (0)20 7936 9604 This information is provided by RNS The company news service from the London Stock Exchange