Director/PDMR Shareholding

10 Nov 2006 07:00

Omega Insurance Holdings Limited09 November 2006 Omega Insurance Holdings Limited (the "Company") Directors' Interests The Board of Omega Insurance Holdings Limited (the "Company") announces that,following admission of the Company's shares to trading on AIM ("Admission") on 9November 2006, as disclosed in the Company's Admission Document dated 25September 2006 and as further disclosed to the Company by the relevant Directorson 9 November 2006, the Directors held as at Admission the following disclosableinterests in the Company's common shares of US$0.10 each. Director Number of common shares Number of common shares % of issued of US$0.10 acquired of US$0.10 held share capitalWalterFiederowicz 50,000 50,000 0.03 RichardTolliday 396,312 396,312 0.27 John Robinson 16,740,000 16,740,000 11.36 Christopher Clarke 25,000 25,000 0.02 Pursuant to the Scheme (as defined in the Admission Document), each holding asdescribed above replaced a holding of an identical number of ordinary shares of5 pence each in the capital of Omega Underwriting Holdings PLC, the Company'swholly-owned subsidiary. The following options and awards over the following number of common shares ofUS$0.10 each in the capital of Omega Insurance Holdings Limited have today beenapproved for grant by Omega Insurance Holdings Limited under the Omega InsuranceHoldings Limited Long Term Incentive Plan and the Omega Underwriting HoldingsPLC Executive Share Option Plan: Executive LTIP LTIP ESOP LTIP(Award Restricted Options Options Nil costdate of Award -exercise - exercise optionexchanged 06/04/2005 price of 115p price of 116.5p 21/01/2006grant) per share per share 08/04/2005 07/04/2005 RichardTolliday 432,624 754,693 25,751 1,500,000 John Robinson - - - 750,000 The options and awards were granted by Omega Insurance Holdings Limited in equalexchange for rights relinquished under share scheme arrangements operated byOmega Underwriting Holdings PLC. The restricted awards do not have any performance conditions attached and mayvest in accordance with the vesting timetable as attached to the awards theyreplace. The options will vest subject to certain performance criteria being met,ordinarily on a sliding scale basis over a period of three and five years fromthe deemed date of grant (the award date of the exchanged grants). For Companies Act purposes, the executive Directors of the Company (RichardTolliday and John Robinson) may also arguably be deemed to have acquired on 9November 2006 a technical interest in the 980,616 common shares of US$0.10 eachheld on behalf of the trustees of the Omega Insurance Holdings Limited EmployeeShare Trust. Any such interest will cease when shares held by such trustees aretransferred to individuals who exercise their options over such shares. Following the grant of options over 750,000 common shares of US$0.10 eachreferred to above, John Robinson is interested in aggregate in 17,490,000 commonshares of US$0.10 each in the Company, representing 11.87% of the Company'sissued share capital as at Admission. Following the grant of options over 2,713,068 common shares of US$0.10 eachreferred to above, Richard Tolliday is interested in aggregate in 3,109,380common shares of US$0.10 each in the Company, representing 2.11% of theCompany's issued share capital as at Admission. Notification of Material Interests The Company was notified on 9 November 2006 of the following relevant change tothe material interests in the Company's ordinary shares: Name Number of common shares of US$0.10 % of issued share held as at Admission capital John Robinson 16,740,000 11.36 Date: 9 November 2006 Contact: Malcolm MitchellCompany Secretary001 441 299 4984 Jeremy GormanAssistant Company Secretary020 7935 0027 This information is provided by RNS The company news service from the London Stock Exchange