Director/PDMR Shareholding

RNS Number : 6611J

Lancashire Holdings Limited

04 July 2011

 



Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons

1.	Name of the issuer Lancashire Holdings Limited (the "Company")	2.	State whether the notification related to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance with LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006) (i) a transaction notified in accordance with DTR 3.1.2 R
3.	Name of the person discharging managerial responsibilities/director (1)   Richard Brindle (Executive Director and Group CEO) (2)   Alex Maloney (Executive Director and Group Chief Underwriting Officer) (3)   Neil McConachie (Executive Director and Group President)	4.	State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify connected person N/A
5.	Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest Persons referred to at 3 above.	6.	Description of shares (including class), debentures or derivatives or financial instruments relating to shares (1a)  Options over common shares of         US$0.50 each (1b)  Common shares of US$0.50 each (2)    Options over common shares of         US$0.50 each (3a)  Lancashire Holdings Limited 2008    Restricted Share Scheme (3b) Common shares of US$0.50 each
7.	Name of registered shareholder(s) and, if more than one, the number of shares held by each of them (1)   Richard Brindle (2)   Alex Maloney (3)   Neil McConachie	8.	State the nature of the transaction (1a) Cashless exercise of 37,500 options over the common shares of US$0.50 each awarded under the Company's Long Term Incentive Plan adopted by the Company's shareholders on 7 December 2005 and subsequently amended by the Company's shareholders on 4 January 2008 and related sale of 5,362 resultant shares to cover tax liabilities (1b)  Purchase of 49,800 shares (2) Cashless exercise of 137,500 options over the common shares of US$0.50 each awarded under the Company's Long Term Incentive Plan adopted by the Company's shareholders on 7 December 2005 and subsequently amended by the Company's shareholders on 4 January 2008 and related sale of 52,420 resultant shares to cover tax liabilities.  (3a) Exercise of 100,598 Restricted Share              Awards granted as nil-cost options over         common shares of US$0.50 each under         the Lancashire Holdings Limited 2008         Restricted Share Scheme and related         sale of 2,017 resultant shares to cover         tax liabilities       (3b)  Purchase of 25,000 shares
9.	Number of shares, debentures or financial instruments relating to shares acquired (1a)   27,438 (1b)   49,800  (2)   100,605 (3a)  100,598 (3b)  25,000	10.	Percentage of issued class acquired (treasury shares of the class should not be taken into account when calculating percentage) (1a)  0.0176% (1b)   0.0320% (2)     0.0646% (3a)  0.0646% (3b)  0.0161%
11.	Number of shares, debentures or financial instruments relating to shares disposed (1a)    5,362 (sold in order to cover tax              liabilities arising out of the exercise            of the shares as noted in 8 (1)            above) (2)      52,420 (sold in order to cover tax               liabilities arising out of the exercise            of the shares as noted in 8 (2) above) (3a)   2,017 (sold in order to cover tax          liabilities arising out of the exercise of          the shares as noted in 8 (3a) above)	12.	Percentage of issued class disposed (treasury shares of the class should not be taken into account when calculating percentage) (1)   0.0034% (2)   0.0337% (3a) 0.0013%
13.	Price per share or value of transaction (1a) £6.323158 per share (1b) £6.2773 per share (2)   £6.323158 per share        (3a) £6.323158 per share        (3b) £6.18 per share	14.	Date and place of transaction (1a) 29 June  2011 - London, England (1b) 28 June 2011 - London, England (2)    29 June  2011 - London, England (3a)  29 June  2011 - London, England (3b)  28 June  2011 - London, England
15.	Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) (1) 724,600 common shares 0.4652% * (2)  157,828 common shares 0.1013%** (3)  381,415 common shares  0.2449%*** *of which 23,521 shares represent forfeitable shares awarded on 25 March 2010 pursuant to a Lancashire Holdings Limited bonus deferral scheme **of which 10,252 shares represent forfeitable shares awarded on 25 March 2010 pursuant to a Lancashire Holdings Limited bonus deferral scheme ***shares acquired in 10 (3a) and 3(b) included	16.	Date issuer informed of transactions 30 June 2011

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17.	Date of grant	18.	Period during which or date on which exercisable
19.	Total amount paid (if any) for grant of the option	20.	Description of shares or debentures involved (class and number)
21.	Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise	22.	Total number of shares or debentures over which options held following notification

23.

Any additional information In addition to the securities noted in question 15 above, Richard Brindle also holds the following interests in the Company: Restricted Share Scheme Awards Bonus Deferral Plan- 259,161 (subject to time and employment conditions only) Restricted Share Scheme Awards- 1,038,366**** Time vesting warrants - 7,625, 217 Performance warrants - 741,964 Founder Warrants - 46,260 In addition to the securities noted in question 15 above, Alex Maloney also holds the following interests in the Company: Restricted Share Scheme Awards Bonus Deferral Plan- 41,105 (subject to time and employment conditions only) Restricted Share Scheme Awards- 402,573**** In addition to the securities noted in question 15 above, Neil McConachie also holds the following interests in the Company: Restricted Share Scheme Awards Bonus Deferral Plan- 113,415 (subject to time and employment conditions only) Restricted Share Scheme Awards- 523,807**** Long Term Incentive Plan - 50,000 Time vesting warrants - 170,869 Performance warrants - 185,490 ****Pursuant to the Rules of the Restricted Share Scheme, the number of shares that will actually vest depends on the satisfaction of certain conditions including employment, performance and time conditions.  N.B: Richard Brindle and Neil McConachie have each increased their holdings of LHL shares by purchasing shares in the Company on the 28th June 2011.

24.

Name of contact and telephone number for queries Jonny Creagh-Coen + 44 (0) 207 264 4066

Name of authorised official if issuer making notification Christopher Head Assistant Company Secretary 4 July 2011

 

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