Director/PDMR Shareholding

RNS Number : 6611J

Lancashire Holdings Limited

04 July 2011

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

Name of the issuer

Lancashire Holdings Limited

(the "Company")

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

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)

State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify connected person

N/A

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.

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

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

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

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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