Conduit Holdings Limited, the parent company of Conduit Re, a Bermuda-based reinsurance business, has announced the grant of awards over common shares to Stuart Quinlan, a person discharging managerial responsibilities (PDMR). Quinlan has been awarded 84,814 common shares as a Restricted Share Award under the Long Term Incentive Plan (LTIP). The award, granted on 5 September 2023 as nil cost options, will ordinarily vest on the third anniversary of the grant date, subject to continued employment.
Stuart Quinlan's beneficial ownership interest, including shares held by a Person Closely Associated with him, stands at 194,091 common shares, excluding the unvested shares subject to the Restricted Share Award. The notification of the grant was made in accordance with the requirements of the Market Abuse Regulation (EU) 596/2014.
The notification provides further details of the transaction, including the nature of the transaction, the volume of shares (84,814), the date of the transaction (5 September 2023), and the place of the transaction (outside of trading venue).
Conduit Re, a 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, with a stable outlook. Conduit Holdings Limited, the ultimate parent of Conduit Reinsurance Limited, is listed on the London Stock Exchange (ticker: CRE).
For media contacts, H/Advisors Maitland can be reached at +44 (0) 207 379 5151 or [email protected]. For investor relations and other enquiries, contact [email protected]. Joint corporate brokers include Panmure Gordon, Berenberg, and Peel Hunt.
For more information about Conduit Re, visit their website at https://conduitreinsurance.com/.