Lancashire Hld Ltd Transaction in Own Shares
November 11 2022 - 11:16AM
UK Regulatory
TIDMLRE
LANCASHIRE HOLDINGS LIMITED
11 November 2022
Hamilton, Bermuda
Share Repurchase Programme
Lancashire Holdings Limited (the "Company" or "Lancashire") today announces
that, further to the announcement made in the Company's Q3 2022 Trading
Statement dated 3 November 2022, it will commence a share repurchase programme
of its common shares of US$0.50 each (the "Shares") up to a maximum
consideration of US$14,730,000 (the "Aggregate Purchase Price") (the "Programme
").
Lancashire announces that it has entered into an instruction to Morgan Stanley
& Co. International Plc ("Morgan Stanley") in relation to the purchase by
Morgan Stanley, acting as riskless principal during the period commencing on 14
November 2022 and ending no later than 30 December 2022, of up to 3,000,000
Shares for an aggregate amount of no greater than the Aggregate Purchase Price
and the simultaneous on-sale of such Shares by Morgan Stanley to Lancashire.
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 the 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.
Lancashire's 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.
This release contains information which may be of a price sensitive nature,
that Lancashire is making public in a manner consistent with the UK Market
Abuse Regulation and other regulatory obligations. The information was
submitted for publication, through the agency of the contact persons set out
above, at 17:20 GMT on 11 November 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.
END
(END) Dow Jones Newswires
November 11, 2022 12:16 ET (17:16 GMT)
Lancashire (LSE:LRE)
Historical Stock Chart
From Apr 2024 to May 2024
Lancashire (LSE:LRE)
Historical Stock Chart
From May 2023 to May 2024