Purchase of Shares by Employee Benefit Trust at Conduit Holdings Limited

Conduit Holdings Limited, the ultimate parent company of Conduit Re, a Bermuda-based reinsurance business, recently announced the purchase of 150,000 shares by the Conduit Employee Benefit Trust (Conduit EBT) at a gross price of £5.21 per share. The Conduit EBT is a discretionary trust for the benefit of employees of CHL and its subsidiaries, including the Executive Directors. This purchase brings the total shares held in the Conduit EBT to 7,858,860, representing 4.756% of CHL's total voting rights. The shares are intended to be used to satisfy awards made under the CHL employee share schemes.

The Conduit EBT Trustee is expected to abstain from exercising its voting rights over the shares held by the Conduit EBT at any general meeting of CHL, unless specifically directed by CHL. However, if CHL directs that the Conduit EBT Trustee may vote, CHL cannot direct the manner in which the Conduit EBT Trustee exercises its votes.

Conduit Re, a pure-play Bermuda-based reinsurance business with global reach, 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, a subsidiary of Conduit Holdings Limited. Conduit Holdings Limited is listed on the London Stock Exchange (ticker: CRE).

For further information, media contacts can be reached at H/Advisors Maitland, and investor relations and other enquiries can be directed to [email protected]. The company's joint corporate brokers are Panmure Gordon (UK) Limited, Berenberg, and Peel Hunt. More information about Conduit Re can be found on their website and LinkedIn page.

This news provides insight into the recent purchase of shares by the Conduit Employee Benefit Trust at Conduit Holdings Limited, shedding light on the company's employee benefit programs and its impact on voting rights. Additionally, it offers an overview of Conduit Re's standing as a Bermuda-based reinsurance business and its parent company's listing on the London Stock Exchange.