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REG - Conduit Holdings Ltd - Purchase of Shares by Employee Benefit Trust

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RNS Number : 5174P  Conduit Holdings Limited  23 May 2024

Purchase of Shares by Employee Benefit Trust

Purchase of Shares by Employee Benefit Trust

 

Pembroke, Bermuda - 23 May 2024

Conduit Holdings Limited

("CHL"; LSE ticker: CRE)

Purchase of Shares by Employee Benefit Trust

CHL, the ultimate parent company of Conduit Re, a Bermuda-based reinsurance
business, was notified on 22 May 2024 by the Trustees of the Conduit Employee
Benefit Trust (the "Conduit EBT") that the Trustees had purchased 39,282
shares of USD 0.01 par value each (ISIN Code: BMG243851091) ("Shares") on the
London Stock Exchange at a gross price of £5.37 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 8,262,000 Shares representing 5.00 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 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/ (https://conduitreinsurance.com/)

LinkedIn: https://www.linkedin.com/company/conduit-re
(https://www.linkedin.com/company/conduit-re)

 

 

 

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