Director/PDMR Shareholding

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

 

1.  Name of the issuer               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           
                                                                               
                                                                               
    Lancashire Holdings Limited                                                
                                                                               
3.  Name of the person discharging   4.  State whether notification relates to 
    managerial responsibilities/         a person connected with a person      
    director                             discharging managerial                
                                         responsibilities/director named in 3  
                                         and identify connected person         
                                                                               
                                                                               
                                                                               
                                         N/A                                   
                                                                               
    Richard Brindle (Executive                                                 
    Director and Group CEO)                                                    
                                                                               
     Neil McConachie (Executive                                                
    Director and President)                                                    
                                                                               
    Alex Maloney (Executive Director                                           
    and Group Chief Underwriting                                               
    Officer)                                                                   
                                                                               
                                                                               
                                                                               
                                                                               
                                                                               
5.  Indicate whether the             6.  Description of shares (including      
    notification is in respect of a      class), debentures or derivatives or  
    holding of the person referred       financial instruments relating to     
    to in 3 or 4 above or in respect     shares                                
    of a non-beneficial interest                                               
                                                                               
                                                                               
                                                                               
    Persons referred to at 3 above.                                            
                                         Lancashire Holdings Limited Restricted
                                         Share Scheme                          
                                                                               
                                                                               
                                                                               
7.  Name of registered shareholder   8.  State the nature of the transaction   
    (s) and, if more than one, the                                             
    number of shares held by each of                                           
    them                                                                       
                                         Restricted Share Awards granted as    
                                         nil-cost options over common shares of
                                         US$0.50 each under the Lancashire     
    (1) Richard Brindle                  Holdings Limited Restricted Share     
                                         Scheme                                
    (2) Neil McConachie                                                        
                                                                               
    (3) Alex Maloney                                                           
                                                                               
                                                                               
                                                                               
9.  Number of shares, debentures or  10. Percentage of issued class acquired   
    financial instruments relating       (treasury shares of the class should  
    to shares acquired                   not be taken into account when        
                                         calculating percentage)               
                                                                               
                                                                               
    (1) Richard Brindle - 240,263                                              
    RSS Awards                           (1) Richard Brindle - 0.1510%         
                                                                               
    (2) Neil McConachie - 146,833        (2) Neil McConachie - 0.0923 %        
    RSS Awards                                                                 
                                         (3) Alex Maloney  - 0.1176%           
    (3) Alex Maloney  - 187,165 RSS                                            
    Awards                                                                     
                                                                               
                                                                               
                                                                               
11. Number of shares, debentures or  12. Percentage of issued class disposed   
    financial instruments relating       (treasury shares of the class should  
    to shares disposed                   not be taken into account when        
                                         calculating percentage)               
                                                                               
                                                                               
                                                                               
                                         N/A                                   
                                                                               
                                                                               
    N/A                                                                        
                                                                               
13. Price per share or value of      14. Date and place of transaction         
    transaction                                                                
                                                                               
                                                                               
                                         28 February 2012                      
    £NIL                                                                       
                                                                               
                                                                               
15. Total holding following          16. Date issuer informed of transaction   
    notification and total                                                     
    percentage holding following                                               
    notification (any treasury                                                 
    shares should not be taken into                                            
    account when calculating                                                   
    percentage)                                                                
                                                                               
                                                                               
                                                                               
    (1) Richard Brindle (Executive       28 February 2012                      
    Director) - 924,732 (0.5810%)                                              
                                                                               
    (2) Neil McConachie (Executive                                             
    Director) - Nil (0.00%)                                                    
                                                                               
    (3) Alex Maloney (Executive                                                
    Director) - 191,415 (0.1203%)                                              
                                                                               
                                                                               
                                                                               
                                                                               
                                                                               

 

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                                    
                                                                               
                                                                               
                                                                               
                                In accordance with the amended Restricted Share
    28 February 2012            Scheme adopted by the shareholders on 22       
                                December 2010, in the normal course of events  
                                these awards will vest in 2015 to the extent   
                                that the Performance Conditions (measured over 
                                a three year performance period ending 31      
                                December 2014) have been satisfied and provided
                                the Award holder remains employed by a Group   
                                Member on the date of vesting.                 
                                                                               
                                                                               
                                                                               
19. Total amount paid (if   20. Description of shares or debentures involved   
    any) for grant of the       (class and number)                             
    option                                                                     
                                                                               
                                                                               
                                Restricted Share Awards granted over common    
    Nil                         shares of US$0.50 each under the Restricted    
                                Share Scheme                                   
                                                                               
                                                                               
                                                                               
                                (1) Richard Brindle - 240,263                  
                                                                               
                                (2) Neil McConachie - 146,833                  
                                                                               
                                (3) Alex Maloney - 187,165                     
                                                                               
                                                                               
                                                                               
                                                                               
                                                                               
21. Exercise price (if      22. Total number of  shares or debentures over     
    fixed at time of grant)     which options held following notification      
    or indication that                                                         
    price is to be fixed at                                                    
    the time of exercise                                                       
                                Total number of Restricted Share Awards granted
                                under the Restricted Share Scheme* and held    
                                following notification:                        
                                                                               
                                                                               
    Nil                                                                        
                                (1) Richard Brindle - 928,004                  
                                                                               
                                (2) Neil McConachie - 670,640                  
                                                                               
                                (3) Alex Maloney - 519,613                     
                                                                               
                                                                               
                                                                               
                                *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.                           
                                                                               
                                                                               
                                                                               
                                Total number of Restricted Share Awards        
                                granted under the Restricted Share Scheme      
                                Awards Bonus Deferral Plan** and held following
                                the notification:                              
                                                                               
                                                                               
                                                                               
                                (1) Richard Brindle - 191,938                  
                                                                               
                                (2) Neil McConachie - 113,415                  
                                                                               
                                (3) Alex Maloney - 41,105                      
                                                                               
                                                                               
                                                                               
                                ** (subject to time and employment conditions  
                                only)                                          
                                                                               
                                                                               
                                                                               
                                Total number of time vesting warrants held     
                                following notification:                        
                                                                               
                                                                               
                                                                               
                                Richard Brindle - 5,625,217                    
                                                                               
                                                                               
                                                                               
                                                                               
                                                                               
                                Total number of performance warrants held      
                                following notification:                        
                                                                               
                                                                               
                                                                               
                                Richard Brindle - 741,965                      
                                                                               
                                                                               
                                                                               
                                Total number of Founder warrants held following
                                notification:                                  
                                                                               
                                                                               
                                                                               
                                Richard Brindle - 46,260                       
                                                                               
                                                                               
                                                                               

 

23. Any additional            24. Name of contact and telephone number for     
    information                   queries                                      
                                                                               
                                                                               
                                                                               
                                  Christopher Head  [phone]        
                                                                               
  Name of authorised official if issuer for making notification
                                                             
                                                             
Christopher Head                                             
                                                             
Assistant Company Secretary                                  
                                                             
29 February 2012