Lancashire
Holdings Limited
(the
“Company”)
Notification and
public disclosure of transactions by persons discharging managerial
responsibilities and persons closely associated with them
The Company announces that, on 15
February 2018, Alex Maloney,
Executive Director and Chief Executive Officer exercised 105,403
Restricted Share Awards (“RSS awards”) granted as nil-cost options
over the Company’s common shares of US$0.50 each. Of these RSS awards 54,947 were
granted as Long Term Incentive Awards and 50,456 were granted as
Deferred Annual Bonus Awards.
Mr. Maloney sold 49,681 of the resulting shares at the price
shown below to cover the tax, national insurance and fees arising
as a result of the exercise and transferred the balance of 55,722
shares into the name of connected person Amanda Maloney. The exercise was satisfied
using existing shares in issue held by the Lancashire Holdings
Limited Employee Benefit Trust.
Following this transaction, Mr. Maloney has an interest in the
Company of 636,024 common shares (which includes 155,722 shares
held via a connected person), representing 0.3159%.
Additionally, Mr. Maloney also holds the following interests in
the Company:
Restricted Share Scheme (Performance Awards) – 505,920
(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).
Restricted Share Scheme (Deferred Bonus Awards) – 54,218
(Vesting is subject to time and
employment conditions only).
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/Amendment |
Initial notification |
3 |
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor |
a) |
Name |
Lancashire Holdings
Limited |
b) |
LEI |
5493002UNUYXLHOWF752 |
4(i) |
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
financial instrument, type of instrument
Identification code |
Common Shares of
US$0.50 each
ISIN: BMG5361W1047 |
b) |
Nature of the transaction |
- Acquisition of shares on exercise of 105,403
Restricted Share Awards (“RSS awards”) granted as nil-cost options
over common shares of US$0.50 each, of which 54,947 were granted as
Long Term Incentive Awards and 50,456 were granted as Deferred
Annual Bonus Awards
|
c) |
Price(s) and
volume(s) |
Price(s) |
Volume(s) |
nil |
105,403 shares acquired on
exercise of RSS awards |
|
d) |
Aggregated information |
105,403
Nil |
e) |
Date of the transaction |
2018-02-15 |
f) |
Place of the transaction |
(XLON) London Stock
Exchange – Regulated Market |
4(ii) |
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
financial instrument, type of instrument
Identification code |
Common Shares of
US$0.50 each
ISIN: BMG5361W1047 |
b) |
Nature of the transaction |
- Sale of 49,681 shares to cover tax
liabilities and fees on exercise of 105,403 Restricted Share
Awards (“RSS awards”) granted as nil-cost options over common
shares of US$0.50 each
|
c) |
Price(s) and
volume(s) |
Price(s) |
Volume(s) |
£6.07964 |
49,681 shares sold to cover tax
liabilities |
|
d) |
Aggregated information |
49,681
£302,042.59 |
e) |
Date of the transaction |
2018-02-15 |
f) |
Place of the transaction |
(XLON) London Stock
Exchange – Regulated Market |
4(iii) |
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
financial instrument, type of instrument
Identification code |
Common Shares of
US$0.50 each
ISIN: BMG5361W1047 |
b) |
Nature of the transaction |
- Transfer of 55,722 shares to connected person
Amanda Maloney
|
c) |
Price(s) and
volume(s) |
Price(s) |
Volume(s) |
Nil |
55,722 |
|
d) |
Aggregated information |
55,722
Nil |
e) |
Date of the transaction |
2018-02-15 |
f) |
Place of the transaction |
(XLON) London Stock
Exchange – Regulated Market |
Name of authorised official of issuer
for making notification
Christopher
Head
Company Secretary
16 February 2018 |
+44 20 7264 4145
chris.head@lancashiregroup.com |