Lancashire Holdings Regulatory News (LRE)

Notification of Transactions of Directors/Persons Discharging ManagerialResponsibility 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) 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/ Richard Brindle (Executive director named in 3 and identify Director and Group CEO) 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 Lancashire Holdings Limited Persons referred to at 3 above ("LHL") Restricted Share Scheme Award 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 Exercise of 176,655 Restricted Richard Brindle Share Awards granted as nil-cost options over common shares of US$0.50 each and subsequent sale of 176,655 shares 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 176,655 percentage) 0.0964% 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 176,655 percentage) 0.0964% 13. Price per share or value of 14. Date and place of transaction transaction 1. 13 February 2014 - London, 1. 42,160 shares at £7.162582 England per share 2. 17 February 2014 - London, 2. 55,100 shares at £7.330721 England per share 3. 18 February 2014 - London, (3) 79,395 shares at £7.330498 England per share 15. Total holding following 16. Date issuer informed of notification and total percentage transaction holding following notification (any treasury shares should not 19 February 2014 be taken into account when calculating percentage) 858,022 common shares - Totalling 0.4684% If a person discharging managerial responsibilities has been granted options bythe 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, Christopher Head + 44 (0) 207 Richard Brindle also holds the 264 4145 following interests in the Company: Restricted Share Scheme Awards Bonus Deferral Plan - 99,998 (vesting is subject to time and employment conditions only) Restricted Share Scheme Awards- 597,058* Time vesting warrants - 5,625,217 Performance warrants - 741,965 Founder Warrants - 46,260 *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. Name of authorised official if issuer for making notification Christopher HeadCompany Secretary 20 February 2014