CHL PDMR RNS
CHL PDMR RNS
Pembroke, Bermuda - 28 May 2024
Conduit Holdings Limited
("CHL" - LSE ticker: CRE)
PDMR Notification
Grant of LTIP Award
CHL, the ultimate parent company of Conduit Re, a Bermuda-based reinsurance business, today announces that the following awards over common shares of $0.01 par value each in CHL were granted under the CHL Long Term Incentive Plan ("LTIP") to the following person discharging managerial responsibilities in CHL ("PDMR"):
(1) Stuart Quinlan, PDMR, has been awarded 84,814 as a Restricted Share Award.
The award was granted on 5 September 2023 as nil cost options and will ordinarily vest on the third anniversary of the grant date, on terms that vesting is conditional upon continued employment. Due to an administrative oversight, the grant was not announced at the date of the transaction.
Stuart Quinlan's beneficial ownership interest (which includes shares held by Michelle Quinlan, a Person Closely Associated with Stuart Quinlan) stands at 194,091 common shares excluding the unvested shares which are the subject of the Restricted Share Award specified in this announcement.
PDMR Notification of Dealing Form: The notification below, made in accordance with the requirements of the Market Abuse Regulation (EU) 596/2014 (which forms part of UK domestic law pursuant to the European Union (Withdrawal) Act 2018, as amended), provides further details of the transaction.
| 1 | Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA") | |
| a) | Name | Stuart Quinlan |
| 2 | Reason for the Notification | |
| a) | Position/status | Stuart Quinlan - PDMR |
| b) | Initial notification/amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Conduit Holdings Limited |
| b) | LEI | 21380085AE62D1BXSF19 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the Financial instrument, type of instrument | Common Shares of $0.01 par value
|
| Identification code | ISIN BMG243851091 SEDOL BN133N2 | |
| b) | Nature of the Transaction
| Grant of a Restricted Share Award over common shares under the Rules of the Conduit Holdings Limited Long Term Incentive Plan with a price of nil pence per share. |
| c) | Price(s) and volume(s)
| Price(s) Nil Volume(s) 84,814 |
| d) | Aggregated information
Aggregated volume
Price | NOT APPLICABLE
|
| e) | Date of the transaction | 5 September 2023 |
| f) | Place of the transaction | OUTSIDE OF TRADING VENUE |
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 (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 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
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