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 13 March
2024, 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 571,257 RSS awards as nil-cost options over the
Company's common shares of US$0.50
each. Of these RSS awards, 454,967 were granted as Long Term
Incentive Performance RSS Awards* and 116,290 were granted as
Deferred Annual Bonus RSS Awards**.
Ms.
Kershaw was granted 314,617 RSS awards as nil-cost options over the
Company's common shares of US$0.50
each. Of these RSS awards 234,592 were granted as Long Term
Incentive Performance RSS Awards* and 80,025 were granted as
Deferred Annual Bonus RSS Awards**.
* In
accordance with the LHL Restricted Share Scheme rules, in the
normal course of events the 2024 Long Term Incentive Performance
RSS Awards will vest in 2027 to the extent that the Performance
Conditions (measured over a three-year performance period ending
31 December 2026) 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 2023 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 2024 financial
statements in the case of the first tranche, following the release
of the Company's 2025 financial statements in the case of the
second tranche, and following the release of the Company's 2026
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 571,257
RSS
awards granted as nil-cost options over common shares of US$0.50
each, of which 454,967
were
granted as Long Term Incentive Performance RSS Awards
and 116,290
were
granted as Deferred Annual Bonus RSS Awards
|
|
c)
|
Price(s)
and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
454,967
|
|
Nil
|
116,290
|
|
|
d)
|
Aggregated
information
-
Aggregated
volume
-
Price
|
571,257
NIL
|
|
e)
|
Date of
the transaction
|
2024-03-13
|
|
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 314,617
RSS
awards granted as nil-cost options over common shares of US$0.50
each, of which 234,592
were
granted as Long Term Incentive Performance RSS Awards
and 80,025
were
granted as Deferred Annual Bonus RSS Awards
|
|
c)
|
Price(s)
and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
234,592
|
|
Nil
|
80,025
|
|
|
d)
|
Aggregated
information
-
Aggregated
volume
-
Price
|
314,617
NIL
|
|
e)
|
Date of
the transaction
|
2024-03-13
|
|
f)
|
Place of
the transaction
|
Outside
a trading venue
|
Name
of authorised official of issuer for making
notification
|
Christopher
Head
Company
Secretary
15
March 2024
|
+44 20
7264 4145
chris.head@lancashiregroup.com
|