CHL PDMR RNS
Pembroke, Bermuda - 26 March 2025
Conduit Holdings Limited
("CHL" - LSE ticker: CRE)
PDMR Notification
Grant of LTIP Award
CHL, the ultimate parent company of Conduit Re, a Bermuda-based reinsurance business, today announces that the following awards over common shares of $0.01 par value each in CHL ("Common Shares") were granted under the CHL Long Term Incentive Plan ("LTIP") to the following person discharging managerial responsibilities in CHL ("PDMR"):
(1) Gregory Roberts, PDMR, has been awarded 87,478 Common Shares as a conditional share award under LTIP.
The award was granted of 25 March 2025 and will vest on the third anniversary of the grant date, on terms that vesting is conditional upon continued employment in line with the Remuneration Policy approved at CHL's 2024 AGM, and as disclosed in the Remuneration Report set out in the Annual Report & Accounts.
LTIP vesting
Vesting is not subject to specific performance conditions but is subject to the LTIP Rules, in particular rules 6.3 (Adjustments to extent of Vesting), where a Common Share award shall only vest to the extent permitted by: (a) any performance condition, if any, (or any other term imposed on its vesting in accordance with LTIP Rule 3.2(f)); (b) LTIP Rules 12.4 (Leavers: reduction in number of vested Common Shares) and 13.5 (corporate events: reduction in number of vested shares); and (c) any operation of Clawback as defined in the LTIP Rules.
PDMR's beneficial ownership interest
Gregory Roberts beneficial ownership interest stands at 168,286 Common Shares excluding the unvested shares which are the subject of the terms of the applicable award made under the LTIP.
PDMR Notification of Dealing Form
The notification below, made in accordance with the requirements of the Market Abuse Regulation (EU) 596/2014 (which forms part of UK domestic law pursuant to the European Union (Withdrawal) Act 2018, as amended), provides further details of the transaction.
| 1 | Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA") | |
| a) | Name | Gregory Roberts |
| 2 | Reason for the Notification | |
| a) | Position/status | Gregory Roberts - PDMR |
| b) | Initial notification/amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Conduit Holdings Limited |
| b) | LEI | 21380085AE62D1BXSF19 |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the Financial instrument, type of instrument | Common Shares of $0.01 par value
|
| Identification code | ISIN BMG243851091 SEDOL BN133N2 | |
| b) | Nature of the Transaction
| Grant of a Performance Share Award over Common Shares under the rules of the Conduit Holdings Limited Long Term Incentive Plan with a price of nil pence per share. |
| c) | Price(s) and volume(s)
| Price(s) Nil Volume(s) 87,478 |
| d) | Aggregated information Aggregated volume Price | NOT APPLICABLE
|
| e) | Date of the transaction | 25 March 2025 |
| f) | Place of the transaction | OUTSIDE OF TRADING VENUE |
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 (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/
LinkedIn: https://www.linkedin.com/company/conduit-re
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