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

Conduit HoldingsAnnouncement

04/03/2024 16:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240304:nRSD5153Fa&default-theme=true

RNS Number : 5153F  Conduit Holdings Limited  04 March 2024

Purchase of Shares by Employee Benefit Trust

Purchase of Shares by Employee Benefit Trust

 

Pembroke, Bermuda - 4 March 2024

Conduit Holdings Limited

("CHL"; LSE ticker: CRE)

Purchase of Shares by Employee Benefit Trust

CHL, the ultimate parent company of Conduit Re, a pure-play Bermuda-based
reinsurance business, was notified on 4 March 2024 by the Trustees of the
Conduit Employee Benefit Trust (the "Conduit EBT") that the Trustees had
purchased 150,000 shares of USD 0.01 par value each (ISIN Code: BMG243851091)
("Shares") on the London Stock Exchange at a gross price of £5.21 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 7,858,860 Shares representing 4.756 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 pure-play 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)

Neither the content of Conduit's website, nor the content on any website
accessible from hyperlinks on its website for any other website, is
incorporated into, or forms part of, this announcement nor, unless previously
published by means of a regulated information service, should any such content
be relied upon in reaching a decision as to whether or not to acquire,
continue to hold, or dispose of, securities in Conduit.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFLFEEVEISIIS