Director/PDMR Shareholding

RNS Number : 0027T

Lancashire Holdings Limited

29 November 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 Neil McConachie (Executive Director)	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 Person referred to at 3 above.	6.	Description of shares (including class), debentures or derivatives or financial instruments relating to shares 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 Neil McConachie	8.	State the nature of the transaction (1)   Sale of  35,000 shares (2)   Sale of 100,000 shares (3)   Cashless exercise of 50,000 LTIP options (4)   Sale of 71,406 shares
9.	Number of shares, debentures or financial instruments relating to shares acquired 41,640 (transaction 3 only)	10.	Percentage of issued class acquired (treasury shares of the class should not be taken into account when calculating percentage) 0.0264 (transaction 3 only)
11.	Number of shares, debentures or financial instruments relating to shares disposed 206,406 shares (transactions 1,2&4 only)	12.	Percentage of issued class disposed (treasury shares of the class should not be taken into account when calculating percentage) 0.1309% (transactions 1,2&4 only)
13.	Price per share or value of transaction (1)   35,000 at £6.99 per share (2)   100,000 at £6.84 per share (3)   N/A (4)   71,406 at £6.97 per share	14.	Date and place of transaction (1) 24 November 2011 - London, England (2) 25 November 2011 - London, England (3) 28 November 2011 - London, England (4) 28 November 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) 41,640 (0.0264)	16.	Date issuer informed of transactions  28 November  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, 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 - 0 *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.  **The sale of shares is part of Mr. McConachie's tax planning as publicly advised during the Company's Q3 2011 Earnings call held on 4 November 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 29 November 2011

 

END

 

 

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