Orascom Inv Regulatory News (OIH)

8 May 2009 07:00



 [8] May 2009

OMEGA INSURANCE HOLDINGS LIMITED

Omega Insurance Holdings Limited ('Omega' or the 'Company')

Exercise of Options

The Company announces today that 767,097 options over common shares of US$0.10 each in the capital of the Company ("Common Shares") were exercised on 7 May 2009 under the Company's Long Term Incentive Plan (the "Plan"). Out of this total, 538,013 options represented nil cost awards, and 229,084 options were exercised at a price of 115p per share. In addition, 24,764 options over Common Shares were exercised at a price of 116.5p per share on 7 May 2009 under the Company's Employee Share Option Plan.

Application has been made for the admission of a total of 791,861 Common Shares to trading on AIM. The shares will rank pari passu with existing Common Shares and it is expected that admission will occur at 8.00am on 14 May 2009.

Following the issue of the new shares, the total issued share capital of the Company will be 241,486,420 Common Shares.

Exercise of award and acquisition of shares by Director

John Robinson, an Executive Director and Chief Underwriting Officer of Omega, disclosed to the Company on 7 May 2009 that, following the exercise on that date of a nil cost award under the Plan over 375,000 Common Shares, he acquired 375,000 Common Shares, representing 0.16% of the Company's issued share capital as at 7 May 2009 following the issue of new Common Shares referred to above.

As previously notified to the Company, John Robinson was already the registered holder of 17,714,286 Common Shares, and held options over 3,350,000 Common Shares. 

Following the above share purchase on 7 May 2009, John Robinson is now the registered holder of 18,089,286 Common Shares, representing 7.49% of the Company's issued share capital as at 7 May 2009 following the issue of new Common Shares referred to above, and continues to hold options over 2,975,000 Common Shares. 

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