REG-Lancashire Hld Ltd: Transaction in Own Shares

Lancashire HoldingsAnnouncement

17/06/2022 13:45

LANCASHIRE HOLDINGS LIMITED

17 June 2022

Hamilton, Bermuda

Share Repurchase Programme

As previously announced on 13 May 2022, Lancashire Holdings Limited (the
“Company” or “Lancashire”) commenced a share repurchase programme of
its common shares of US$0.50 each (the “Shares”) up to a maximum
consideration of US$18,777,000 (the “Programme”) to be executed during the
period commencing 16 May 2022 and ending no later than 24 June 2022. Since 16
May 2022, the Company has repurchased 1,485,703 Shares under the Programme, at
a total of cost US$7,252,734.86, pursuant to an irrevocable arrangement with
Morgan Stanley & Co. International Plc (“Morgan Stanley”) acting as
riskless principal to repurchase Shares on its behalf within certain
parameters. The Shares purchased under the Programme are currently held in a
custody account.

Today, Lancashire announces that, as the Company will shortly be entering a
closed period, in connection with the above Programme the Company has entered
into a further irrevocable arrangement with Morgan Stanley to continue
repurchases of Shares on its behalf and within certain parameters until the
earlier of the completion of the Programme or the Company’s announcement of
its results for the second quarter ending on 30 June 2022, which is scheduled
for release on 27 July 2022. Any purchases made by Morgan Stanley pursuant to
such authority will be undertaken at the sole discretion of Morgan Stanley.

Any purchase of Shares in relation to this announcement will be executed in
accordance with the relevant regulations (including but not limited to the
Listing Rules) and Lancashire’s general authority, as granted by
shareholders at Lancashire’s AGM held on 27 April 2022, to make market
purchases of Shares. Lancashire will announce any market repurchase of Shares
no later than 7.30 a.m. on the business day following the calendar day on
which the repurchase occurred. Shares purchased under the Programme will be
used to satisfy a number of future exercises of awards under the Company’s
Restricted Share Scheme.

This announcement does not constitute, or form part of, an offer or any
solicitation of an offer for securities in any jurisdiction.

See further the “Note Regarding Forward-Looking Statements” below. 

For further information, please contact:

 Lancashire Holdings Limited Christopher Head  +44 20 7264 4145 chris.head@lancashiregroup.com         
 Jelena Bjelanovic                             +44 20 7264 4066 jelena.bjelanovic@lancashiregroup.com  
 FTI Consulting                                +44 20 37271046                                         
 Edward Berry                                  Edward.Berry@FTIConsulting.com                          
 Tom Blackwell                                 Tom.Blackwell@FTIConsulting.com                         

About Lancashire

Lancashire, through its UK and Bermuda-based operating subsidiaries, is a
provider of global specialty insurance and reinsurance products.

                     Financial  Strength  Rating ((1))  Financial Strength  Outlook ((1))  Long Term  Issuer  Rating ((2))  
 A.M. Best           A (Excellent)                      Stable                             Bbb+                             
 S&P Global Ratings  A-                                 Stable                             BBB                              
 Moody’s             A3                                 Stable                             Baa2                             

((1) Financial Strength Rating and Financial Strength Outlook apply to
Lancashire Insurance Company Limited and Lancashire Insurance Company (UK)
Limited.)

((2) Long Term Issuer Rating applies to Lancashire Holdings Limited.)

Lancashire Syndicates Limited benefits from Lloyd’s ratings: A.M. Best: A
(Excellent); S&P Global

Ratings: A+ (Strong); and Fitch: AA- (Very Strong).

Lancashire has capital of approximately $1.8 billion and its common shares
trade on the premium segment of the Main Market of the London Stock Exchange
under the ticker symbol LRE. Lancashire has its head office and registered
office at Power House, 7 Par-la-Ville Road, Hamilton HM 11, Bermuda.

The Bermuda Monetary Authority (“BMA”) is the Group Supervisor of the
Lancashire Group.

For more information, please visit Lancashire’s website at
www.lancashiregroup.com.

The information was submitted for publication, through the agency of the
contact persons set out above, at 13:30 BST on 17 June 2022.

NOTE REGARDING FORWARD-LOOKING STATEMENTS:

CERTAIN STATEMENTS AND INDICATIVE PROJECTIONS (WHICH MAY INCLUDE MODELLED LOSS
SCENARIOS) MADE IN THIS RELEASE OR OTHERWISE THAT ARE NOT BASED ON CURRENT OR
HISTORICAL FACTS ARE FORWARD-LOOKING IN NATURE INCLUDING, WITHOUT LIMITATION,
STATEMENTS CONTAINING THE WORDS “BELIEVES”, “ANTICIPATES”, “AIMS”,
“PLANS”, “PROJECTS”, “FORECASTS”, “GUIDANCE”, “INTENDS”,
“EXPECTS”, “ESTIMATES”, “PREDICTS”, “MAY”, “CAN”,
“LIKELY”, “WILL”, “SEEKS”, “SHOULD”, OR, IN EACH CASE, THEIR
NEGATIVE OR COMPARABLE TERMINOLOGY.

ALL FORWARD-LOOKING STATEMENTS IN THIS RELEASE SPEAK ONLY AS AT THE DATE OF
PUBLICATION. LANCASHIRE HOLDINGS LIMITED EXPRESSLY DISCLAIMS ANY OBLIGATION OR
UNDERTAKING (SAVE AS REQUIRED TO COMPLY WITH ANY LEGAL OR REGULATORY
OBLIGATIONS INCLUDING THE RULES OF THE LONDON STOCK EXCHANGE) TO DISSEMINATE
ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENT TO REFLECT ANY
CHANGES IN THE GROUP’S EXPECTATIONS OR CIRCUMSTANCES ON WHICH ANY SUCH
STATEMENT IS BASED. ALL SUBSEQUENT WRITTEN AND ORAL FORWARD-LOOKING STATEMENTS
ATTRIBUTABLE TO THE GROUP OR INDIVIDUALS ACTING ON BEHALF OF THE GROUP ARE
EXPRESSLY QUALIFIED IN THEIR ENTIRETY BY THIS NOTE.



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