REG - Chesnara PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">CSN.L</Origin>

ChesnaraAnnouncement

28/01/2015 02:04

RNS Number : 7982C
Chesnara PLC
21 January 2015
Chesnara plc (the "Company")
Notification of Transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons
The Company were notified on 19 January 2015, that Peter Wright, Non Executive Director, transferred 16,000 ordinary shares in the Company, off market, for nil consideration to his spouse on 16th January 2015.
Peter Wright's resultant total beneficial interest remain 70,000 ordinary shares, representing 0.06% per cent of the Company's issued Ordinary Share capital.
21 January 2015
For further information please contact:
Chesnara
John Deane, Chief Executive +44 1772 840045
Notes to Editors
Chesnara plc ('Chesnara'), which listed on the London Stock Exchange in May 2004, is the owner of Countrywide Assured plc ('CA plc'), Protection Life Company Limited ('PL') and Movestic Livfrskringar AB ('Movestic').
CA plc is a UK life assurance subsidiary that is closed to new business. In June 2005 Chesnara acquired a further closed life insurance company - City of Westminster Assurance - for 47.8m. With effect from 30 June 2006, CWA's policies and assets were transferred into CA plc. Save & Prosper Insurance Limited and its subsidiary, Save & Prosper Pensions Limited, were acquired on 20 December 2010 for 63.5 million. With effect from 31 December 2011, the business of Save & Prosper was transferred into CA plc. On 28 November 2013 Chesnara acquired Direct Line Life Insurance Company Limited (subsequently renamed Protection Life Company Limited) from Direct Line Group plc for 39.3m. On 31 December 14 the PL businesstransfered into CA plc. CA plc operates an outsourced business model.
Movestic, a Swedish life assurance company which originally focused on pensions and savings, was acquired on 23 July 2009 for 20 million. The company is open to new business and seeks to grow its position in the Swedish unit-linked market. Its proposition was strengthened in February 2010 with the acquisition of the operations of Aspis Frskringar Liv AB which has a risk and health product bias.
Furthermore, the Company announced on 3 December its intention to purchase the Waard Group in the Netherlands for an initial consideration of 55.1m, financed by a successful share placing of 35.7m and cash reserves. Further details are available on the Company's website (www.chesnara.co.uk).

This information is provided by RNS
The company news service from the London Stock Exchange
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