Close Period Announcement

RNS Number : 3325Y

Lancashire Holdings Limited

04 July 2008

 

Lancashire Holdings Ltd

Hamilton, Bermuda, 4th July 2008

Transaction in own shares during close period
 
Lancashire Holdings Limited ('the Company'), announces that it has entered into an irrevocable arrangement with its broker Merrill Lynch International Limited ('Merrills') to repurchase on its behalf Common Shares of US$ 0.50 each in the Company. The Company is shortly to enter a close period and repurchases by Merrills may only be made within certain pre-set parameters. 

The Company announced its current share repurchase programme on 29th April 2008 in the amount of $100 million (the 'Repurchase Programme'). From 11th June 2008, Merrills were granted the authority to repurchase shares up to an aggregate value, including costs, of up to $50 million within the Repurchase Programme. The repurchased shares will be held as Treasury Shares.

This arrangement is in accordance with applicable regulations and the Company's general authority to repurchase shares.

For further information, please contact:

Lancashire Holdings Limited 

Greg Lunn                     [phone]

Financial Dynamics                                                                   

Rob Bailhache               [phone]

Nick Henderson  

Merrill Lynch International

Marcus Jackson            [phone]

Numis Securities 

Charles Farquhar           [phone]                        

About Lancashire

Lancashire, through its UK and Bermuda-based insurance subsidiaries, is a global provider of specialty insurance products. Its insurance subsidiaries carry the Lancashire group rating of A minus (Excellent) from A.M. Best with a stable outlook. Lancashire has capital in excess of $1 billion dollars and its Common Shares trade on AIM under the ticker symbol LRE. Lancashire is headquartered at Mintflower Place, 8 Par-La-Ville Road, Hamilton HM 08, Bermuda. The mailing address is Lancashire Holdings Limited, P.O. Box HM 2358, Hamilton HM HX, Bermuda. For more information on Lancashire, visit the company's website at www.lancashiregroup.com

 

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