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 13 March 2025, 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, Natalie Kershaw, Executive Director
and Group Chief Financial Officer and Paul Gregory, Executive Director and Group
Chief Underwriting Officer.
Mr. Maloney was granted 651,392 RSS awards as nil-cost options over the
Company's common shares of US$0.50 each. Of these RSS awards, 512,108 were
granted as Long Term Incentive Performance RSS Awards* and 139,284 were granted
as Deferred Annual Bonus RSS Awards**.
Ms. Kershaw was granted 355,490 RSS awards as nil-cost options over the
Company's common shares of US$0.50 each. Of these RSS awards 264,085 were
granted as Long Term Incentive Performance RSS Awards* and 91,405 were granted
as Deferred Annual Bonus RSS Awards**.
Mr Gregory was granted 481,862 RSS awards as nil-cost options over the Company's
common shares of US$0.50 each. Of these RSS awards, 365,792 were granted as Long
Term Incentive Performance RSS Awards* and 116,070 were granted as Deferred
Annual Bonus RSS Awards**.
* In accordance with the LHL Restricted Share Scheme rules, in the normal course
of events the 2025 Long Term Incentive Performance RSS Awards will vest in 2028
to the extent that the Performance Conditions (measured over a three-year
performance period ending 31 December 2027) 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
2024 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 following the release of the Company's 2025
financial statements in the case of the first tranche, following the release of
the Company's 2026 financial statements in the case of the second tranche, and
following the release of the Company's 2027 financial statements in the case of
the third tranche.
The notification below, made in accordance with the requirements of UK MAR,
provides further detail:
+--+------------------------------+-----------------------------------+
| 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 |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 |Nil-cost options over Common Shares|
| |instrument, type of |of US$0.50 each |
| |instrumentIdentification code | |
| | |ISIN: BMG5361W1047 |
+--+------------------------------+-----------------------------------+
|b)|Nature of the transaction |Grant of 651,392 RSS awards granted|
| | |as nil-cost options over common |
| | |shares of US$0.50 each, of which |
| | |512,108 were granted as Long Term |
| | |Incentive Performance RSS Awards |
| | |and 139,284 were granted as |
| | |Deferred Annual Bonus RSS Awards |
+--+------------------------------+-----------------------------------+
|c)|Price(s) and volume(s) | |
| | |+--------+---------+ |
| | ||Price(s)|Volume(s)| |
| | |+--------+---------+ |
| | ||Nil |512,108 | |
| | |+--------+---------+ |
| | ||Nil | 139,284 | |
| | |+--------+---------+ |
+--+------------------------------+-----------------------------------+
|d)|Aggregated information |651,392 |
| | · Aggregated volume | |
| | · Price |NIL |
+--+------------------------------+-----------------------------------+
|e)|Date of the transaction |2025-03-13 |
+--+------------------------------+-----------------------------------+
|f)|Place of the transaction |Outside a trading venue |
+--+------------------------------+-----------------------------------+
+--+------------------------------+-----------------------------------+
| 1|Details of the person discharging |
| |managerial responsibilities/person |
| |closely associated |
+--+------------------------------+-----------------------------------+
|a)|Name |Natalie Kershaw |
+--+------------------------------+-----------------------------------+
|2 |Reason for the notification |
+--+------------------------------+-----------------------------------+
|a)|Position/status |Executive Director and Group Chief |
| | |Financial 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 |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 |Nil-cost options over Common Shares|
| |instrument, type of |of US$0.50 each |
| |instrumentIdentification code | |
| | |ISIN: BMG5361W1047 |
+--+------------------------------+-----------------------------------+
|b)|Nature of the transaction |Grant of 355,490 awards granted as |
| | |nil-cost options over common shares|
| | |of US$0.50 each, of which 264,085 |
| | |were granted as Long Term Incentive|
| | |Performance RSS Awards and 91,405 |
| | |were granted as Deferred Annual |
| | |Bonus RSS Awards |
+--+------------------------------+-----------------------------------+
|c)|Price(s) and volume(s) | |
| | |+--------+---------+ |
| | ||Price(s)|Volume(s)| |
| | |+--------+---------+ |
| | ||Nil |264,085 | |
| | |+--------+---------+ |
| | ||Nil |91,405 | |
| | |+--------+---------+ |
+--+------------------------------+-----------------------------------+
|d)|Aggregated information |355,490 |
| | · Aggregated volume | |
| | · Price |NIL |
+--+------------------------------+-----------------------------------+
|e)|Date of the transaction |2025-03-13 |
+--+------------------------------+-----------------------------------+
|f)|Place of the transaction |Outside a trading venue |
+--+------------------------------+-----------------------------------+
+--+------------------------------+-----------------------------------+
| 1|Details of the person discharging |
| |managerial responsibilities/person |
| |closely associated |
+--+------------------------------+-----------------------------------+
|a)|Name |Paul Gregory |
+--+------------------------------+-----------------------------------+
|2 |Reason for the notification |
+--+------------------------------+-----------------------------------+
|a)|Position/status |Executive Director and Group Chief |
| | |Underwriting 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 |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 |Nil-cost options over Common Shares|
| |instrument, type of |of US$0.50 each |
| |instrumentIdentification code | |
| | |ISIN: BMG5361W1047 |
+--+------------------------------+-----------------------------------+
|b)|Nature of the transaction | Grant of 481,862 awards granted as|
| | |nil-cost options over common shares|
| | |of US$0.50 each, of which 365,792 |
| | |were granted as Long Term Incentive|
| | |Performance RSS Awards and 116,070 |
| | |were granted as Deferred Annual |
| | |Bonus RSS Awards |
+--+------------------------------+-----------------------------------+
|c)|Price(s) and volume(s) | |
| | |+--------+---------+ |
| | ||Price(s)|Volume(s)| |
| | |+--------+---------+ |
| | ||Nil |365,792 | |
| | |+--------+---------+ |
| | ||Nil |116,070 | |
| | |+--------+---------+ |
+--+------------------------------+-----------------------------------+
|d)|Aggregated information |481,862 |
| | · Aggregated volume | |
| | · Price |NIL |
+--+------------------------------+-----------------------------------+
|e)|Date of the transaction |2025-03-13 |
+--+------------------------------+-----------------------------------+
|f)|Place of the transaction |Outside a trading venue |
+--+------------------------------+-----------------------------------+
Name of authorised official of issuer for making notification
Christopher Head +44 20 7264 4145
Company Secretary chris.head@lancashiregroup.com
17 March 2025
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Lancashire Holdings Ltd.
Lancashire Holdings Ltd - Director/PDMR Shareholding - RSS Awards
17th March 2025, 11:54
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