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 13
September 2016, Alex Maloney, Executive Director and Chief
Executive Officer exercised 128,610 Restricted Share Awards (“RSS
awards”) granted as nil-cost options over the Company’s common
shares of US$0.50 each. Of these RSS
awards 98,976 were granted under the LHL Restricted Share Scheme
and 29,634 were granted under the LHL Restricted Share Scheme Bonus
Deferral Plan.
Mr. Maloney sold 60,614 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 67,996
shares. The exercise was satisfied using existing shares in
issue held by the Lancashire Holdings Limited Employee Benefit
Trust.
Following this transaction, Alex Maloney has an interest in the
Company of 513,512 common shares (which includes 100,000 held via a
connected person), representing 0.2574%.
Additionally, Alex Maloney also holds the following interests in
the Company:
Restricted Share Scheme – Deferred Bonus Awards – 93,987
(vesting is subject to time and employment conditions only).
Restricted Share Scheme Awards– 587,795 (Pursuant to the Rules
of the Restricted Share Scheme, the number of shares that will
actually vest depends on the satisfaction of certain conditions
including employment, performance and time conditions).
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 |
Common Shares of
US$0.50 each
ISIN: BMG5361W1047 |
b) |
Nature of the transaction |
(i)Exercise of 128,610 Restricted
Share Awards (“RSS awards”) granted as nil-cost options over common
shares of US$0.50 each, of which 98,976 were granted under the LHL
Restricted Share Scheme and 29,634 were granted under the LHL
Restricted Share Scheme Bonus Deferral Plan and (ii) subsequent
sale of 60,614 shares to cover tax liabilities and fees. |
c) |
Price(s) and
volume(s) |
Price(s) |
Volume(s) |
nil |
128,610 shares acquired on exercise of RSS
awards |
£6.500673 |
60,614 shares sold to cover tax
liabilities |
|
d) |
Aggregated information |
N/A |
e) |
Date of the transaction |
2016-09-13 |
f) |
Place of the transaction |
(XLON) London Stock
Exchange – Regulated Market |
Name of authorised official of issuer
for making notification
Christopher
Head
Company Secretary
15 September 2016 |
+44 20 7264 4145
chris.head@lancashiregroup.com |