REG-Lancashire Hld Ltd: Director/PDMR Shareholding

Lancashire HoldingsAnnouncement

24/02/2020 18:10

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 announces that, on 21 February 2020, Restricted Share Awards
(“RSS awards”) were granted 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 Alex Maloney,
Executive Director and Group Chief Executive Officer and Deferred Annual Bonus
RSS Awards to Elaine Whelan, Executive Director and Group Chief Financial
Officer.

Mr. Maloney was granted 310,618 RSS awards as nil-cost options over the
Company’s common shares of US$0.50 each. Of these RSS awards 260,292 were
granted as Long Term Incentive Performance RSS Awards* and 50,326 were granted
as Deferred Annual Bonus RSS Awards**.

Following this transaction, Mr. Maloney continues to have an interest in the
Company of 679,308 common shares (which includes 155,722 common shares held
via a connected person), representing 0.3347%.

Mr. Maloney now holds the following interests in the Company:

Long Term Incentive Performance RSS Awards – 882,969

(Pursuant to the Rules of the LHL Restricted Share Scheme, the number of
shares that will actually vest depends on the satisfaction of certain
conditions including employment, performance and time conditions). 

Deferred Annual Bonus RSS Awards – 90,759

(Vesting is subject to time and employment conditions only).

Mrs. Whelan was granted 34,557 RSS awards as nil-cost options over the
Company’s common shares of US$0.50 each as Deferred Annual Bonus RSS
Awards**.

Following this transaction, Mrs. Whelan continues to have an interest in the
Company of 671,977 common shares (which includes 11,590 common shares held via
a connected person), representing 0.3311%.

Mrs. Whelan now holds the following interests in the Company:

Long Term Incentive Performance RSS Awards – 391,941

(Pursuant to the Rules of the LHL Restricted Share Scheme, the number of
shares that will actually vest depends on the satisfaction of certain
conditions including employment, performance and time conditions). 

Deferred Annual Bonus RSS Awards – 44,172

(Vesting is subject to time and employment conditions only).

* In accordance with the LHL Restricted Share Scheme rules, in the normal
course of events the 2020 Long Term Incentive Performance RSS Awards will vest
in 2023 to the extent that the Performance Conditions (measured over a
three-year performance period ending 31 December 2022) 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
2019 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 2021 in the case
of the first tranche, in February 2022 in the case of the second tranche, and
in February 2023 in the case of the third tranche.

The notification, made in accordance with Article 19 of Regulation (EU) No
596/2014 of the European Parliament and of the Council of 16 April 2014 on
market abuse (Market Abuse Regulation), is set out below:

 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         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                    Nil-cost options over Common Shares of US$0.50 each   ISIN: BMG5361W1047                                                                                                                                                              
 b)        Nature of the transaction                                                                          Grant of 310,618 RSS awards granted as nil-cost options over common shares of US$0.50 each, of which 260,292 were granted as Long Term Incentive Performance RSS Awards and 50,326 were granted as Deferred Annual Bonus RSS Awards.  
 c)        Price(s) and volume(s)                                                                                                                                                                                                                                                                                                                   
 Price(s)  Volume(s)                                                                                          
 Nil       260,292                                                                                            
 Nil       50,326                                                                                             
 d)        Aggregated information                                                                             310,618 NIL                                                                                                                                                                                                                           
 e)        Date of the transaction                                                                            2020-02-21                                                                                                                                                                                                                            
 f)        Place of the transaction                                                                           Outside a trading venue                                                                                                                                                                                                               

   

 1         Details of the person discharging managerial responsibilities/person closely associated                                                                                                                                            
 a)        Name                                                                                               Elaine Whelan                                                                                                                   
 2         Reason for the notification                                                                                                                                                                                                        
 a)        Position/status                                                                                    Executive Director and Group Chief Financial 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         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                    Nil-cost options over Common Shares of US$0.50 each   ISIN: BMG5361W1047                                                        
 b)        Nature of the transaction                                                                          Grant of 34,557 RSS awards granted as nil-cost options over common shares of US$0.50 each as Deferred Annual Bonus RSS Awards.  
 c)        Price(s) and volume(s)                                                                                                                                                                                                             
 Price(s)  Volume(s)                                                                                          
 Nil       34,557                                                                                             
 d)        Aggregated information                                                                             34,557 NIL                                                                                                                      
 e)        Date of the transaction                                                                            2020-02-21                                                                                                                      
 f)        Place of the transaction                                                                           Outside a trading venue                                                                                                         

Name of authorised official of issuer for making notification

 Christopher Head Company Secretary  24 February 2020  +44 20 7264 4145 chris.head@lancashiregroup.com  



Copyright (c) 2020 PR Newswire Association,LLC. All Rights Reserved