Lancashire Holdings Regulatory News (LRE)

15 Nov 2011 17:07

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 (the "Company") 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 4. State whether notification

managerial responsibilities/ relates to a person connected director with a person discharging managerial responsibilities/ Neil McConachie (Executive director named in 3 and identify Director) connected person N/A

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 Common shares of US$0.50 each Person referred to at 3 above.

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 1. Sale of 190,631 shares Neil McConachie 2. Cashless exercise of 356,361 warrants

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 2. 246,406 shares percentage) 2. 0.1563%

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 1. 190,631 shares percentage) 1. 0.1209%

13. Price per share or value of 14. Date and place of transaction

transaction (1) (a) 130,631 at £7.61 per (1) (a) 09 November 2011 - share London, England (1) (b) 60,000 at £7.58 per share (1) (b) 10 November 2011 - London, England (2) 14 November 2011 - London, England

15. Total holding following 16. Date issuer informed of

notification and total percentage transactions holding following notification (any treasury shares should not 14 November 2011 be taken into account when calculating percentage) 246,406 (0.1563%)***

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 20. Description of shares or grant of the option debentures involved (class and number) 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 23. Any additional information 24. Name of contact and telephone

number for queries In addition to the securities noted in question 15 above, Neil Jonny Creagh-Coen + 44 (0) 207 McConachie also holds the 264 4066 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 Time vesting warrants - 0 Performance warrants - 0 *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. **\* The total shareholding has been amended to include an additional 982 shares which came to light during an administrative reconciliation of Mr. McConachie's shareholding.

Name of authorised official if issuer making notification

Christopher Head Assistant Company Secretary 15 November 2011