Conduit Holdings Limited (CHL), the parent company of Conduit Re, a Bermuda-based reinsurance business, has announced that the Trustees of the Conduit Employee Benefit Trust (Conduit EBT) have purchased 150,000 shares of CHL on the London Stock Exchange. The shares were bought at a gross price of £4.78 per share and will 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, including the Executive Directors of CHL. Following this transaction, the Conduit EBT holds a total of 6,197,860 shares, representing 3.751% of CHL's total voting rights.
The Conduit EBT Trustee will abstain from exercising its voting rights over the shares held by the trust at any general meeting of CHL, unless specifically directed by CHL. If CHL does direct the Conduit EBT Trustee to vote, CHL cannot direct how the trustee exercises its votes.
Conduit Re is a Bermuda-based reinsurance business with global reach. It is licensed by the Bermuda Monetary Authority as a Class 4 insurer and has been assigned a Financial Strength Rating of A- (Excellent) by A.M. Best. Conduit Holdings Limited is the ultimate parent company of Conduit Reinsurance Limited and is listed on the London Stock Exchange.
For media inquiries, H/Advisors Maitland can be contacted at +44 (0) 207 379 5151 or via email at [email protected]. For investor relations and other inquiries, contact [email protected]. The joint corporate brokers for CHL are Panmure Gordon (UK) Limited, Berenberg, and Peel Hunt.
For more information about Conduit Re, visit their website at https://conduitreinsurance.com/ or their LinkedIn page at https://www.linkedin.com/company/conduit-re.