26th Jul 2006 07:00
Lancashire Holdings Limited25 July 2006 Lancashire Holdings Limited Hamilton, Bermuda, 25 July 2006 LANCASHIRE HOLDINGS LIMITED TRANSFERS OF OWNERSHIP, NOTIFICATION OF MAJOR INTERESTS IN SHARES Lancashire Holdings Limited (the "Company") today announced that on 24 July 2006it received a request from Cypress Lancashire Partners LP to distribute to itsbeneficial owners 9,690,000 of the Company's Common Shares of US$0.50 each (the"Common Shares") held by the partnership. Cypress Lancashire Partners L.P. is aprivate equity fund that was established specifically for the purpose ofinvesting in the Company. The requested transfers were routine distributions to the beneficial owners ofCypress Lancashire Partners L.P., following the termination of certain lock-uprestrictions over the Common Shares that were lifted on 16 June 2006. Thetransfers do not result in a change of beneficial ownership in the CommonShares. As a result of the transfers Cypress Lancashire Partners L.P. no longer has adisclosable interest in the issued Common Shares of the Company either under theCompany's bye-laws or the AIM Rules. The transfers took place on 25 July 2006. For further information, please contact: Lancashire Holdings Greg Lunn +1 441 278 8950 Financial Dynamics Robert Bailhache +44 20 7269 7200Nick Henderson +44 20 7269 7114 www.lancashire.bm About Lancashire The Company was established in 2005 as a new insurance and reinsurance businessto take advantage of the favorable underwriting conditions expected to arisefrom the large insured losses incurred in 2004 and 2005. The Company has an A.M.Best rating of A- (Excellent) with a stable outlook. Lancashire was admitted to AIM on 16 December 2005 following an offer of CommonShares to investors. The Common Shares trade on AIM under the ticker symbol LRE. NOTE REGARDING FORWARD LOOKING STATEMENTS CERTAIN STATEMENTS MADE IN THIS ANNOUNCEMENT THAT ARE NOT BASED ON CURRENT ORHISTORICAL FACTS ARE FORWARD-LOOKING IN NATURE INCLUDING WITHOUT LIMITATION,STATEMENTS CONTAINING WORDS "BELIEVES", "ANTICIPATES", "PLANS", "PROJECTS","INTENDS", "EXPECTS", "ESTIMATES", "PREDICTS", "MAY", "WILL", "SEEKS", "SHOULD",OR, IN EACH CASE, THEIR NEGATIVE OR COMPARABLE TERMINOLOGY. ALL STATEMENTS OTHERTHAN STATEMENTS OF HISTORICAL FACTS INCLUDING, WITHOUT LIMITATION, THOSEREGARDING THE GROUP'S FINANCIAL POSITION, RESULTS OF OPERATIONS, LIQUIDITY,PROSPECTS, GROWTH, BUSINESS STRATEGY, PLANS AND OBJECTIVES OF MANAGEMENT FORFUTURE OPERATIONS (INCLUDING DEVELOPMENT PLANS AND OBJECTIVES RELATING TO THEGROUP'S INSURANCE BUSINESS) ARE FORWARD-LOOKING STATEMENTS. SUCH FORWARD-LOOKINGSTATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER IMPORTANTFACTORS THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THEGROUP TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS, PERFORMANCE OR ACHIEVMENTSEXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKINGSTATEMENTS SPEAK ONLY AS AT THE DATE OF ANNOUNCEMENT OR OTHER INFORMATIONCONCERNED. LANCASHIRE HOLDINGS LIMITED EXPRESSLY DISCLAIMS ANY OBLIGATION ORUNDERTAKING (SAVE AS REQUIRED TO COMPLY WITH ANY LEGAL OR REGULATORY OBLIGATIONS(INCLUDING THE AIM RULES)) TO DISSEMINATE ANY UPDATES OR REVISIONS TO ANYFORWARD-LOOKING STATEMENTS CONTAINED HEREIN TO REFLECT ANY CHANGES IN THEGROUP'S EXPECTATIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENT IS BASED. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Lancashire Holdings