Lancashire Holdings Regulatory News (LRE)

9 Mar 2011 18:46

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons

1. Name of the issuer 2. State whether the notification

related to (i) a transaction Lancashire Holdings Limited notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance with LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006) (i)

3. Name of the person discharging 4. State whether notification

managerial responsibilities/ relates to a person connected director with a person discharging managerial responsibilities/ (1) Richard Brindle (Executive director named in 3 and identify Director) connected person (2) Neil McConachie (Executive N/A Director) (3) Alex Maloney (Executive Director) (4) Greg Lunn (PDMR)

5. Indicate whether the notification 6. Description of shares (including

is in respect of a holding of the class), debentures or derivatives person referred to in 3 or 4 or financial instruments relating above or in respect of a to shares non-beneficial interest N/A N/A

7. Name of registered shareholder(s) 8. State the nature of the

and, if more than one, the number transaction of shares held by each of them Grants of Restricted Share Awards N/A in the form of nil-cost options over the issuer's common shares pursuant to the issuer's Restricted Share Scheme rules, as amended by the issuer's shareholders on 22 December 2010. These grants have been made in connection with the issuer's bonus deferral plan. Vesting is subject to time and employment conditions only and there are no performance conditions. See further details in boxes 17 to 20.

9. Number of shares, debentures or 10. Percentage of issued class

financial instruments relating to acquired (treasury shares of the shares acquired class should not be taken into account when calculating N/A percentage) N/A

11. Number of shares, debentures or 12. Percentage of issued class

financial instruments relating to disposed (treasury shares of the shares disposed class should not be taken into account when calculating N/A percentage) N/A

13. Price per share or value of 14. Date and place of transaction transaction N/A N/A 15. Total holding following 16. Date issuer informed of

notification and total percentage transaction holding following notification (any treasury shares should not N/A be taken into account when calculating percentage) N/A

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes

17. Date of grant 18. Period during which or date on which exercisable 4 March 2011 In accordance with the issuer's Restricted Share Scheme rules as amended by the issuer's shareholders on 22 December 2010, exercise of these bonus deferral Restricted Share Awards may occur on a date between 1 January 2013 and 4 March 2021.

19. Total amount paid (if any) for 20. Description of shares or

grant of the option debentures involved (class and number) Nil Restricted Share Awards under the Company's Restricted Share Scheme, structured as nil-cost options, granted over the issuer's common shares of US$0.50 each (1) Richard Brindle - 191,938 (2) Neil McConachie - 77,753 (3) Alex Maloney - 41,105 (4) Greg Lunn - 34,704

21. Exercise price (if fixed at time 22. Total number of shares or

of grant) or indication that debentures over which options price is to be fixed at the time held following notification of exercise Total number of Restricted Share Nil Awards granted under the issuer's Restricted Share Scheme and held following notification: (1) Richard Brindle - 259,161 (2) Neil McConachie - 113,415 (3) Alex Maloney - 41,105 (4) Greg Lunn - 45,686 These grants have been made in connection with the issuer's bonus deferral plan. Vesting is subject to time and employment conditions only and there are no performance conditions. Total number of Restricted Share Awards granted under the issuer's Restricted Share Scheme and held following notification: (1) Richard Brindle - 1,398,367 (2) Neil McConachie - 624,839 (3) Alex Maloney - 478,125 (4) Greg Lunn - 211,263 The actual number of shares to vest is dependent on the Rules of the Restricted Share Scheme including, inter alia, the satisfaction of applicable performance conditions. Total number of options granted under the issuer's Long Term Incentive Plan and held following notification: (1) Richard Brindle - 37,500 (2) Neil McConachie - 50,000 (3) Alex Maloney - 137,500 (4) Greg Lunn - 37,500 Total number of ordinary warrants held following notification: (1) Richard Brindle - 7,625,217 (2) Neil McConachie - 520,869 (4) Greg Lunn - 238,288 Total number of performance warrants held following notification: (1) Richard Brindle - 741,964 (2) Neil McConachie - 185,490 (4) Greg Lunn - 13,373 Total number of Founder warrants held following notification: Richard Brindle - 46,260

23. Any additional information 24. Name of contact and telephone

number for queries Christopher Head + 44 (0) 207 264 4145

Name of authorised official if issuer for making notification

Christopher Head Assistant Company Secretary 09 March 2011