Last checked at 22 Nov 2011 17:09
Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons
1.
| Name of the issuer
Lancashire Holdings Limited (the "Company") | 2. | State whether the notification related to (i) a transaction 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) a transaction notified in accordance with DTR 3.1.2 R
|
3.
| Name of the person discharging managerial responsibilities/director
Neil McConachie (Executive Director) | 4. | State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify connected person
N/A
|
5.
| Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest
Person referred to at 3 above.
| 6. | Description of shares (including class), debentures or derivatives or financial instruments relating to shares
Common shares of US$0.50 each
|
7.
| Name of registered shareholder(s) and, if more than one, the number of shares held by each of them
Neil McConachie
| 8. | State the nature of the transaction
Sale of 40,000 shares
|
9.
| Number of shares, debentures or financial instruments relating to shares acquired
N/A | 10. | Percentage of issued class acquired (treasury shares of the class should not be taken into account when calculating percentage)
N/A
|
11.
| Number of shares, debentures or financial instruments relating to shares disposed
40,000 shares
| 12. | Percentage of issued class disposed (treasury shares of the class should not be taken into account when calculating percentage)
0.0254%
|
13.
| Price per share or value of transaction
40,000 at £7.75 per share
| 14. | Date and place of transaction
17 November 2011 - London, England
|
15.
| Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)
206,406 (0.1309%) | 16. | Date issuer informed of transactions
21 November 2011
|
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
|
19. | Total amount paid (if any) for grant of the option
| 20. | Description of shares or debentures involved (class and number)
|
21. | Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise
| 22. | Total number of shares or debentures over which options held following notification |
23. | Any additional information
In addition to the securities noted in question 15 above, Neil McConachie also holds the following interests in the Company:
Restricted Share Scheme Awards Bonus Deferral Plan- 113,415 (subject to time and employment conditions only) Restricted Share Scheme Awards- 523,807* Long Term Incentive Plan - 50,000
*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 sale of shares is part of Mr. McConachie's tax planning as publicly advised during the Company's Q3 2011 Earnings call held on 4 November 2011.
| 24. | Name of contact and telephone number for queries
Jonny Creagh-Coen + 44 (0) 207 264 4066
|
Name of authorised official if issuer making notification
Christopher Head Assistant Company Secretary 22 November 2011
|