Director/PDMR Shareholding

7 Mar 2012 16:14

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. 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 connected person Group CEO) 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 Transfer of common shares to a Richard Brindle private charitable trust

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 66,710 shares percentage) 0.0419%

13. Price per share or value of 14. Date and place of transaction transaction 6 March 2012 - London, England Transferred for nil consideration 15. Total holding following 16. Date issuer informed of

notification and total percentage transaction holding following notification (any treasury shares should not 6 March 2012 be taken into account when calculating percentage) 858,022 common shares 0.5391%

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, Christopher Head + 44 (0) 207 Richard Brindle also holds the 264 4145 following interests in the Company: Restricted Share Scheme Awards Bonus Deferral Plan*- 257,061 *vesting is subject to time and employment conditions only Restricted Share Scheme Awards- 928,004** **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. Time vesting warrants - 5,625,217 Performance warrants - 741,965 Founder Warrants - 46,260 N.B: The 66,710 shares which are the subject of this notification have been transferred for nil consideration to the Muriel Jones Foundation, a Charity of which Mr. Brindle is a Trustee.

Name of authorised official if issuer for making notification

Christopher Head Assistant Company Secretary 7 March 2012