Purchase of Shares by Employee
Benefit Trust
Purchase
of Shares by Employee Benefit Trust
Pembroke, Bermuda - 6 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 6
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 £5.235 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 8,158,860
Shares representing 4.938 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/
LinkedIn: 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.