Director/PDMR Shareholding
19 February 2007 - 11:31PM
UK Regulatory
RNS Number:4816R
Highway Insurance Holdings PLC
19 February 2007
HIGHWAY INSURANCE HOLDINGS PLC
Director/PDMR Shareholding
19 February 2007
Highway Share Incentive Plan ("the Plan")
This disclosure relates to a single transaction of which notification was
received under paragraph 3.1.2. of the Disclosure Rules and, in respect of the
Directors of Highway Insurance Holdings Plc ("the Company") only, section 324 of
the Companies Act 1985.
The Plan is an all-employee Inland Revenue approved scheme, operated through
Hill Samuel ESOP Trustees Limited (the "Plan Trustees"). Under the Plan,
participating employees are able to buy ordinary shares of 20 pence each in the
Company ("Partnership Shares") using monthly deductions from salary, and to
receive free ordinary shares of 20 pence each in the Company ("Matching Shares")
on the basis of one Matching Share for each Partnership Share purchased up to a
maximum of #50 per month. Both the Partnership Shares and the Matching Shares
are acquired by and held by the Plan Trustees.
The Company was notified on 16 February 2007 that, on 15 February 2007, the
following executive directors and persons discharging managerial responsibility
("PDMR") of the Company became beneficially interested in the total number of
ordinary shares of 20 pence each ("Shares") in the Company, shown against his
name below, such Shares consisting of:
(a) Partnership Shares which were purchased by the Plan Trustees on behalf of
the Director/PDMR at a price of 84 pence per share;
(b) Matching Shares, which were appointed by the Trustees of the Highway
General Employee Benefit Trust ("the EBT") to the Plan Trustees and were awarded
to the Director/PDMR as free Matching Shares under the Plan. The EBT is a
discretionary trust established by the Company for the benefit of employees of
the Highway Group.
Partnership Shares Matching Shares Total
Mr P N Cosh (Director 149 59 208
Mr C D Hill (Director) 148 59 207
Mr P M J Fraser (PDMR) 60 59 119
Mr P J Gallagher (PDMR) 148 59 207
Mr R Kelsey (PDMR) 149 59 208
Mr S Kilbey (PDMR) 149 59 208
Mr P J Lampshire (PDMR) 148 59 207
Mr M S Lawrence (PDMR) 149 59 208
Mr S W Loose (PDMR) 149 59 208
Mr D W Murray (PDMR) 148 59 207
The place of the transaction was London.
The EBT now holds 524,588 ordinary shares of 20 pence each in the Company, in
which each executive director and PDMR, together with other employees, holds an
interest by virtue of being a potential beneficiary under the EBT.
Philip Lampshire
Company Secretary
Tel No: 01277 266308
This information is provided by RNS
The company news service from the London Stock Exchange
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