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)                  
                                                                               
  Lancashire Holdings Limited                (i)                                   
                                                                               
                                                                                
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         
                                                                                
  (1) Richard Brindle (Executive           N/A                                  
      Director and Group CEO)                                                            
                                                                               
                                                                                
  (2) Alex Maloney (Executive                                                
      Director and Group Chief 
      Underwriting Officer)                                                                  
                                                                               
  (3) Elaine Whelan  (Executive                                              
      Director and Chief Financial 
      Officer)                                              
                                                                               
  (4) Neil McConachie (Non-                                                  
      Executive Director)                                                             
                                                                               
                                                                                
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       N/A                                      
                                                                                                                        
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                                                                       
                                                                                
                                         Grants of Restricted Share Awards in  
    N/A                                  the form of nil-cost options over the 
                                         issuer's common shares pursuant to the
                                         issuer's Restricted Share Scheme      
                                         rules, as Adopted by the issuer's     
                                         Board of Directors on 22 February     
                                         2012.                                 
                                                                               
                                                                               
                                                                               
                                         These grants have been made in        
                                         connection with the issuer's bonus    
                                         deferral plan.  Vesting is subject to 
                                         time and employment conditions only   
                                         and there are no performance          
                                         conditions.                           
                                                                                
                                         See further details in boxes 17 to 20.
                                                                               
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)               
     N/A                                                                        
                                         N/A                                   
                                                                               
  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                                                                
                                                                        
    N/A                                     N/A                                      
                                                                               
 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)                                                                
                                                                                
    N/A                                  N/A                                   
                                                                               
 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 issuer's Restricted Share  
                             Scheme rules as amended by the issuer's Board of  
    5 March 2013             Directors on 22 February 2012, exercise of these  
                             bonus deferral Restricted Share Awards may occur  
                             over the relevant vested shares at such point as  
                             the recipients select, up to the 10th anniversary 
                             of the date of grant. Subject to the vesting      
                             conditions, each Bonus Deferral Restricted Share  
                             Award will vest in three equal tranches. Vested   
                             awards may only be exercised in "open periods". It
                             is anticipated that the first open period         
                             following the normal vesting date of the first    
                             Tranche will commence in February 2014, in        
                             February 2015 in the case of the second Tranche,  
                             and in February 2016 in the case of the third     
                             Tranche.                                          
                                                                               
19. Total amount paid    20. Description of shares or debentures involved      
    (if any) for grant       (class and number)                                
    of the option                                                              
                                                                               
                                                                               
                             Restricted Share Award structured as nil-cost     
    Nil                      options, granted over the issuer's common shares  
                             of US$0.50 each under the Company's Restricted    
                             Share Scheme Deferred Bonus Plan.                 
                                                                               
                                                                                 
                             Richard Brindle - 56,584                          
                                                                               
                             Alex Maloney - 17,543                             
                                                                               
                             Elaine Whelan  - 15,120                           
                                                                               
                             Neil McConachie - 7,664                           
                                                                               
                                                                                
21. Exercise price (if   22. Total number of  shares or debentures over which  
    fixed at time of         options held following notification               
    grant) 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 Awards Bonus    
                             Deferral Plan* and held following the             
                             notification:                                     
     Nil                                                                        
                             (1) Richard Brindle - 313,645                     
                                                                               
                             (2) Alex Maloney - 72,102                         
                                                                               
                             (3) Elaine Whelan - 36,607                        
                                                                               
                             (4) Neil McConachie - 111,303                     
                                                                               
                             * (vesting is subject to time and employment      
                             conditions only)                                  
                                                                               
                                                                               
                             Total number of Restricted Share Awards granted   
                             under the Restricted Share Scheme** and held      
                             following notification:                           
                                                                               
                                                                               
                             (1) Richard Brindle - 1,144,963                   
                                                                               
                             (2) Alex Maloney - 650,619                        
                                                                               
                             (3) Elaine Whelan -  362,148                      
                                                                               
                             (4) Neil McConachie - 559,802                     
                                                                               
                             **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 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 + 44 (0) 207 264 4145 
      
Name of authorised official if issuer for making notification
                                                             
Christopher Head                                             
Company Secretary                                            
                                                             
6 March 2013