REG-Lancashire Hld Ltd: Director/PDMR Shareholding

Lancashire HoldingsAnnouncement

21/02/2023 16:15

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 20 February 2023, 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 to Natalie Kershaw,
Executive Director and Group Chief Financial Officer.

Mr. Maloney was granted 393,652 RSS awards as nil-cost options over the
Company’s common shares of US$0.50 each. Of these RSS awards 373,899 were
granted as Long Term Incentive Performance RSS Awards* and 19,753 were granted
as Deferred Annual Bonus RSS Awards**.

Ms. Kershaw was granted 247,997 RSS awards as nil-cost options over the
Company’s common shares of US$0.50 each. Of these RSS awards 235,523 were
granted as Long Term Incentive Performance RSS Awards* and 12,474 were granted
as Deferred Annual Bonus RSS Awards**.

* In accordance with the LHL Restricted Share Scheme rules, in the normal
course of events the 2023 Long Term Incentive Performance RSS Awards will vest
in 2026 to the extent that the Performance Conditions (measured over a
three-year performance period ending 31 December 2025) 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
2022 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 following the release of the
Company’s 2023 financial statements in the case of the first tranche,
following the release of the Company’s 2024 financial statements in the case
of the second tranche, and following the release of the Company’s 2025
financial statements 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                                                                                               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 393,652 RSS awards granted as nil-cost options over common shares of US$0.50 each, of which 373,899 were granted as Long Term Incentive Performance RSS Awards and 19,753 were granted as Deferred Annual Bonus RSS Awards  
 c)        Price(s) and volume(s)                                                                                                                                                                                                                                                                                                                  
 Price(s)  Volume(s)                                                                                          
 Nil       373,899                                                                                            
 Nil       19,753                                                                                             
 d)        Aggregated information - Aggregated volume - Price                                                 393,652 NIL                                                                                                                                                                                                                          
 e)        Date of the transaction                                                                            2023-02-20                                                                                                                                                                                                                           
 f)        Place of the transaction                                                                           Outside a trading venue                                                                                                                                                                                                              

   

 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                                                                     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 247,997 RSS awards granted as nil-cost options over common shares of US$0.50 each, of which 235,523 were granted as Long Term Incentive Performance RSS Awards and 12,474 were granted as Deferred Annual Bonus RSS Awards  
 c)        Price(s) and volume(s)                                                                                                                                                                                                                                                                                                                  
 Price(s)  Volume(s)                                                                                          
 Nil       235,523                                                                                            
 Nil       12,474                                                                                             
 d)        Aggregated information - Aggregated volume - Price                                                 247,997 NIL                                                                                                                                                                                                                          
 e)        Date of the transaction                                                                            2023-02-20                                                                                                                                                                                                                           
 f)        Place of the transaction                                                                           Outside a trading venue                                                                                                                                                                                                              

Name of authorised official of issuer for making notification

 Christopher Head Company Secretary  21 February 2023  +44 20 7264 4145 chris.head@lancashiregroup.com  



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