LRE Lancashire Holdings Limited

 
TIDMLRE 
 
Lancashire Holdings Limited 
 
                          (the "Company") or ("LHL") 
 
   Notification and public disclosure of transactions by persons discharging 
     managerial responsibilities and persons closely associated with them 
 
The Company announces that, on 22 February 2019, Restricted Share Awards ("RSS 
awards") were granted as nil-cost options over common shares of US$0.50 each 
under the LHL Restricted Share Scheme as both Long Term Incentive Performance 
RSS Awards and Deferred Annual Bonus RSS Awards to Alex Maloney, Executive 
Director and Group Chief Executive Officer and Elaine Whelan, Executive 
Director and Group Chief Financial Officer. 
 
Mr. Maloney was granted 320,883 RSS awards as nil-cost options over the 
Company's common shares of US$0.50 each. Of these RSS awards 306,915 were 
granted as Long Term Incentive Performance RSS Awards* and 13,968 were granted 
as Deferred Annual Bonus RSS Awards**. 
 
Following this transaction, Mr. Maloney continues to have an interest in the 
Company of 657,724 common shares (which includes 155,722 common shares held via 
a connected person), representing 0.3257%. 
 
Mr. Maloney now holds the following interests in the Company: 
 
Long Term Incentive Performance RSS Awards - 909,343 
 
(Pursuant to the Rules of the LHL Restricted Share Scheme, the number of shares 
that will actually vest depends on the satisfaction of certain conditions 
including employment, performance and time conditions). 
 
Deferred Annual Bonus RSS Awards - 81,276 
 
(Vesting is subject to time and employment conditions only). 
 
Mrs. Whelan was granted 202,778 RSS awards as nil-cost options over the 
Company's common shares of US$0.50 each. Of these RSS awards 193,186 were 
granted as Long Term Incentive Performance RSS Awards* and 9,592 were granted 
as Deferred Annual Bonus RSS Awards**. 
 
Following this transaction, Mrs. Whelan continues to have an interest in the 
Company of 654,106 common shares (which includes 11,590 common shares held via 
a connected person), representing 0.3239%. 
 
Mrs. Whelan now holds the following interests in the Company: 
 
Long Term Incentive Performance RSS Awards - 572,382 
 
(Pursuant to the Rules of the LHL Restricted Share Scheme, the number of shares 
that will actually vest depends on the satisfaction of certain conditions 
including employment, performance and time conditions). 
 
Deferred Annual Bonus RSS Awards - 28,214 
 
(Vesting is subject to time and employment conditions only). 
 
* In accordance with the LHL Restricted Share Scheme rules, in the normal 
course of events the 2019 Long Term Incentive Performance RSS Awards will vest 
in 2022 to the extent that the Performance Conditions (measured over a 
three-year performance period ending 31 December 2021) have been satisfied and 
provided the Award holder remains employed by a Group Member on the date of 
vesting. 
 
** In accordance with the LHL Restricted Share Scheme rules, exercise of the 
2018 Deferred Annual Bonus RSS Awards may occur over the relevant vested awards 
at such point as the Award holder selects, up to the 10th anniversary of the 
date of grant. Subject to the vesting conditions, each Deferred Annual Bonus 
RSS Award will vest in three equal tranches.  Vested awards may only be 
exercised in "open periods". It is anticipated that the first open period 
following the normal vesting date will commence in February 2020 in the case of 
the first tranche, in February 2021 in the case of the second tranche, and in 
February 2022 in the case of the third tranche. 
 
The notification, made in accordance with Article 19 of Regulation (EU) No 596/ 
 2014 of the European Parliament and of the Council of 16 April 2014 on market 
              abuse (Market Abuse Regulation), is set out below: 
 
 1     Details of the person discharging managerial responsibilities/person closely 
       associated 
 
a)     Name                  Alex Maloney 
 
2      Reason for the notification 
 
a)     Position/status       Executive Director and Group Chief Executive Officer 
 
b)     Initial notification/ Initial notification 
       Amendment 
 
3      Details of the issuer, emission allowance market participant, auction platform, 
       auctioneer or auction monitor 
 
a)     Name                  Lancashire Holdings Limited 
 
b)     LEI                   5493002UNUYXLHOWF752 
 
4      Details of the transaction(s): section to be repeated for (i) each type of 
       instrument; (ii) each type of transaction; (iii) each date; and (iv) each place 
       where transactions have been conducted 
 
a)     Description of the    Nil-cost options over Common Shares of US$0.50 each 
       financial instrument, 
       type of instrument    ISIN: BMG5361W1047 
       Identification code 
 
b)     Nature of the         Grant of 320,883 RSS awards granted as nil-cost options over common shares of 
       transaction           US$0.50 each, of which 306,915 were granted as Long Term Incentive Performance 
                             RSS Awards and 13,968 were granted as Deferred Annual Bonus RSS Awards. 
 
c)     Price(s) and volume   Price(s)                                 Volume(s) 
       (s) 
                             Nil                                      306,915 
 
                             Nil                                      13,968 
 
d)     Aggregated 
       information           320,883 
                             NIL 
 
e)     Date of the           2019-02-22 
       transaction 
 
f)     Place of the          Outside a trading venue 
       transaction 
 
 
 
 1     Details of the person discharging managerial responsibilities/person closely 
       associated 
 
a)     Name                  Elaine Whelan 
 
2      Reason for the notification 
 
a)     Position/status       Executive Director and Group Chief Financial Officer 
 
b)     Initial notification/ Initial notification 
       Amendment 
 
3      Details of the issuer, emission allowance market participant, auction platform, 
       auctioneer or auction monitor 
 
a)     Name                  Lancashire Holdings Limited 
 
b)     LEI                   5493002UNUYXLHOWF752 
 
4      Details of the transaction(s): section to be repeated for (i) each type of 
       instrument; (ii) each type of transaction; (iii) each date; and (iv) each place 
       where transactions have been conducted 
 
a)     Description of the    Nil-cost options over Common Shares of US$0.50 each 
       financial instrument, 
       type of instrument    ISIN: BMG5361W1047 
       Identification code 
 
b)     Nature of the         Grant of 202,778 RSS awards granted as nil-cost options over common shares of 
       transaction           US$0.50 each, of which 193,186 were granted as Long Term Incentive Performance 
                             RSS Awards and 9,592 were granted as Deferred Annual Bonus RSS Awards. 
 
c)     Price(s) and volume   Price(s)                                 Volume(s) 
       (s) 
                             Nil                                      193,186 
 
                             Nil                                      9,592 
 
d)     Aggregated 
       information           202,778 
                             NIL 
 
e)     Date of the           2019-02-22 
       transaction 
 
f)     Place of the          Outside a trading venue 
       transaction 
 
Name of authorised official of issuer for making notification 
 
Christopher Head     +44 20 7264 4145 
Company Secretary    chris.head@lancashiregroup.com 
26 February 2019 
 
 
 
END 
 

(END) Dow Jones Newswires

February 26, 2019 12:35 ET (17:35 GMT)

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