4th Jul 2008 09:31
Lancashire Holdings Ltd
Hamilton, Bermuda, 4th July 2008
Transaction in own shares during close period Lancashire Holdings Limited ("the Company"), announces that it has entered into an irrevocable arrangement with its broker Merrill Lynch International Limited ("Merrills") to repurchase on its behalf Common Shares of US$ 0.50 each in the Company. The Company is shortly to enter a close period and repurchases by Merrills may only be made within certain pre-set parameters.
The Company announced its current share repurchase programme on 29th April 2008 in the amount of $100 million (the "Repurchase Programme"). From 11th June 2008, Merrills were granted the authority to repurchase shares up to an aggregate value, including costs, of up to $50 million within the Repurchase Programme. The repurchased shares will be held as Treasury Shares.
This arrangement is in accordance with applicable regulations and the Company's general authority to repurchase shares.
For further information, please contact:
Lancashire Holdings Limited
Greg Lunn +1 441 278 8950
Financial Dynamics
Rob Bailhache +44 20 7269 7200
Nick Henderson
Merrill Lynch International
Marcus Jackson +44 20 7628 1000
Numis Securities
Charles Farquhar +44 20 7260 1233
About Lancashire
Lancashire, through its UK and Bermuda-based insurance subsidiaries, is a global provider of specialty insurance products. Its insurance subsidiaries carry the Lancashire group rating of A minus (Excellent) from A.M. Best with a stable outlook. Lancashire has capital in excess of $1 billion dollars and its Common Shares trade on AIM under the ticker symbol LRE. Lancashire is headquartered at Mintflower Place, 8 Par-La-Ville Road, Hamilton HM 08, Bermuda. The mailing address is Lancashire Holdings Limited, P.O. Box HM 2358, Hamilton HM HX, Bermuda. For more information on Lancashire, visit the company's website at www.lancashiregroup.com
Related Shares:
Lancashire Holdings