Purchase of Shares by Employee Benefit Trust

RNS Number : 6707A

Conduit Holdings Limited

26 September 2022

 

Purchase of Shares by Employee Benefit Trust

Conduit Holdings Limited ("Conduit Holdings" or "the Company")

Pembroke, Bermuda -26 September 2022

Purchase of Shares by Employee Benefit Trust

Conduit Holdings was notified on 23 September 2022 by the Trustees of the Conduit Employee Benefit Trust (the "Conduit EBT") that the Trustees had purchased 695,000 common shares of USD 0.01 par value each (ISIN Code: BMG243851091) ("Shares") on the London Stock Exchange at a price of £3.591068 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 Conduit Holdings employee share schemes.

The Conduit EBT is a discretionary trust for the benefit of employees of Conduit Holdings and its subsidiaries. The Executive Directors of Conduit Holdings 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 2,606,000 Shares representing 1.584 per cent of the Company's total voting rights is held in the Conduit EBT.

Media contacts

Haggie Partners - David Haggie, Caroline Klein

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About Conduit Re

Conduit Re is a pure play global reinsurance business based in Bermuda. Conduit Holdings Limited is the ultimate parent of the Conduit Re group of companies and is listed on the London Stock Exchange (ticker : CRE). Conduit Reinsurance Limited is the group's underwriting entity and 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.

Learn more:

Website: https://conduitreinsurance.com/

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

Twitter: https://twitter.com/Conduit_Re

Neither the content of the Company'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 Holdings.

 

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