Lancashire Hld Ltd Director/PDMR Shareholding
March 05 2021 - 12:18PM
UK Regulatory
TIDMLRE
Lancashire Holdings Limited
(the "Company") or ("LHL")
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
The Company wishes to announce a correction in the announcement dated 23
February 2021 regarding the grant of Restricted Share Awards ("RSS awards") as
nil-cost options over common shares of US$0.50 each under the LHL Restricted
Share Scheme as both Long Term Incentive Performance RSS Awards and Deferred
Annual Bonus RSS Awards to Natalie Kershaw, Executive Director and Group Chief
Financial Officer.
Ms. Kershaw was in fact granted 187,229 RSS awards as nil-cost options over the
Company's common shares of US$0.50 each. Of these RSS awards 160,356 were
granted as Long Term Incentive Performance RSS Awards* and 26,873 were granted
as Deferred Annual Bonus RSS Awards**.
* In accordance with the LHL Restricted Share Scheme rules, in the normal
course of events the 2021 Long Term Incentive Performance RSS Awards will vest
in 2024 to the extent that the Performance Conditions (measured over a
three-year performance period ending 31 December 2023) have been satisfied and
provided the Award holder remains employed by a Group Member on the date of
vesting.
** In accordance with the LHL Restricted Share Scheme rules, exercise of the
2020 Deferred Annual Bonus RSS Awards may occur over the relevant vested awards
at such point as the Award holder selects, up to the 10th anniversary of the
date of grant. Subject to the vesting conditions, each Deferred Annual Bonus
RSS 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 will commence in February 2022 in the case of
the first tranche, in February 2023 in the case of the second tranche, and in
February 2024 in the case of the third tranche.
The notification below, made in accordance with the requirements of UK MAR,
provides further detail:
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Natalie Kershaw
2 Reason for the notification
a) Position/status Executive Director and Group Chief Financial Officer
b) Initial notification/ Amendment notification
Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name Lancashire Holdings Limited
b) LEI 5493002UNUYXLHOWF752
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each place
where transactions have been conducted
a) Description of the Nil-cost options over Common Shares of US$0.50 each
financial instrument,
type of instrument ISIN: BMG5361W1047
Identification code
b) Nature of the Grant of 187,229 RSS awards granted as nil-cost options over common shares of
transaction US$0.50 each, of which 160,356 were granted as Long Term Incentive Performance
RSS Awards and 26,873 were granted as Deferred Annual Bonus RSS Awards
c) Price(s) and volume Price(s) Volume(s)
(s)
Nil 160,356
Nil 26,873
d) Aggregated
information
NIL
e) Date of the 2021-02-19
transaction
f) Place of the Outside a trading venue
transaction
Name of authorised official of issuer for making notification
Christopher Head +44 20 7264 4145
Company Secretary chris.head@lancashiregroup.com
5 March 2021
END
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