Lancashire
Holdings Limited
(the
“Company”)
Notification and
public disclosure of transactions by persons discharging managerial
responsibilities and persons closely associated with them
The Company announces that, on 23
February 2022, Alex Maloney,
Executive Director and Chief Executive Officer, exercised 183,905
Restricted Share Awards (“RSS awards”) granted as nil-cost options
over the Company’s common shares of US$0.50 each. These RSS awards were granted under
the LHL Restricted Share Scheme Performance Awards and Bonus
Deferral Plan.
Mr. Maloney sold 86,673 of the resulting shares at the price
shown below to cover the tax, national insurance and fees arising
as a result of the exercise and retained the balance of 97,232
shares. The exercise was satisfied using existing shares in issue
held by the Lancashire Holdings Limited Employee Benefit Trust.
Following this transaction, Mr. Maloney has an interest in the
Company of 884,802 common shares (which includes 155,722 shares
held via a connected person), representing 0.3626%.
The notification
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 |
Alex Maloney |
| 2 |
Reason for the
notification |
| a) |
Position/status |
Executive Director and Group
Chief Executive Officer |
| b) |
Initial notification/Amendment |
Initial notification |
| 3 |
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor |
| a) |
Name |
Lancashire Holdings
Limited |
| b) |
LEI |
5493002UNUYXLHOWF752 |
| 4(i) |
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
financial instrument, type of instrument
Identification code |
Common Shares of
US$0.50 each
ISIN: BMG5361W1047 |
| b) |
Nature of the transaction |
Acquisition of shares on exercise
of 183,905 Restricted Share Awards (“RSS awards”) granted as
nil-cost options over common shares of US$0.50 each. These RSS
awards were granted under the LHL Restricted Share Scheme
Performance Awards and Bonus Deferral Plan. |
| c) |
Price(s) and
volume(s) |
| Price(s) |
Volume(s) |
| nil |
183,905 shares acquired on
exercise of RSS awards |
|
| d) |
Aggregated
information
Aggregate Volume
Price |
183,905
Nil |
| e) |
Date of the transaction |
2022-02-23 |
| f) |
Place of the transaction |
(XLON) London Stock
Exchange – Regulated Market |
| 4(ii) |
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
financial instrument, type of instrument
Identification code |
Common Shares of
US$0.50 each
ISIN: BMG5361W1047 |
| b) |
Nature of the transaction |
Sale of 86,673 shares to cover
tax liabilities and fees on exercise of 183,905 Restricted Share
Awards (“RSS awards”) granted as nil-cost options over common
shares of US$0.50 each |
| c) |
Price(s) and
volume(s) |
| Price(s) |
Volume(s) |
| £4.9921 |
86,673 shares sold to cover tax
liabilities |
|
| d) |
Aggregated
information
Aggregate Volume
Aggregate Price |
86,673
£ 432,680.28 |
| e) |
Date of the transaction |
2022-02-23 |
| f) |
Place of the transaction |
(XLON) London Stock
Exchange – Regulated Market |
Name of authorised official of issuer
for making notification
Christopher
Head
Company Secretary
24 February 2022 |
+44 20 7264 4145
chris.head@lancashiregroup.com |