Share Scheme Awards
Lancashire Holdings Limited
31 March 2008
LANCASHIRE HOLDINGS LIMITED
Hamilton, Bermuda, 31 March 2008
SHARE SCHEME AWARDS
This notification is made in accordance with Rule 17 of, and Schedule 5 to, the
AIM Rules.
On 28 March 2008, the following awards ('PSP Awards') over Common Shares in
Lancashire Holdings Limited (the 'Company') were made under the Company's
Restricted Share Scheme (the 'Scheme') to Directors of the Company:
Name of Director Number of Common Shares under the PSP Award
Richard Brindle 360,001
Simon Burton 109,378
Neil McConachie 101,032
No consideration is paid for the grant of a PSP Award which is structured as a
conditional award. The vesting of a PSP Award is ordinarily subject to the
continued employment of the participant and the satisfaction of performance
conditions. A PSP Award will normally vest in three years time subject to the
satisfaction of the performance conditions.
On 28 March 2008, the following awards ('Ordinary Awards') over Common Shares in
the Company were made under the Scheme to Directors of the Company:
Name of Director Number of Common Shares under the Ordinary Award
Richard Brindle 33,381
Simon Burton 22,254
Neil McConachie 22,254
No consideration is paid for the grant of an Ordinary Award which is structured
as a conditional award. An Ordinary Award will ordinarily vest in two years
time, subject to the continued employment of the participant.
The Company was informed of the above transactions relating to PSP Awards and
Ordinary Awards on 28 March 2008.
Following these awards, Richard Brindle now holds 392,745 Common Shares,
founders' warrants over 46,260 Common Shares, time-vesting warrants over
7,625,217 Common Shares, performance-vesting warrants over 2,745,078 Common
Shares, options over 912,522 Common Shares awarded pursuant to the Company's
Long Term Incentive Plan and the Scheme awards described above; Neil McConachie
now holds 47,500 Common Shares, time-vesting warrants over 770,896 Common
Shares, performance-vesting warrants over 686,270 Common Shares, options over
708,348 Common Shares awarded pursuant to the Company's Long Term Incentive Plan
and the Scheme awards described above; Simon Burton now holds 240,000 Common
Shares, time-vesting warrants over 559,182 Common Shares, performance-vesting
warrants over 434,639 Common Shares, options over 800,000 Common Shares awarded
pursuant to the Company's Long Term Incentive Plan and the Scheme awards
described above.
For further information, please contact:
Lancashire Holdings Limited +1 441 278 8950
Neil McConachie
Greg Lunn
Financial Dynamics +44 20 7269 7114
Rob Bailhache
Nick Henderson
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.
This information is provided by RNS
The company news service from the London Stock Exchange
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