29th Jun 2007 18:22
Lancashire Holdings Limited29 June 2007 Notification of Options Award Hamilton, Bermuda, 25th June 2007 Lancashire Holdings Limited (the "Company") today announces the granting ofoptions over its common shares as of 29th June 2007 to Executive Directors ofthe Company as follows: Name of Number of share options Total number of share options Executive granted held following this Director notification Richard Brindle 150,000 912,522Neil McConachie 200,000 708,348 The options were granted pursuant to the Company's Long Term Incentive Plan (the"Plan") under which the Company may grant from time to time up to 5% of theCompany's fully diluted common share capital, as described in the Company's AIMAdmission Document. Additional options within this maximum 5% were granted onsuch date, and may in future be granted, to other employees of the Company onidentical terms. As set out in the Plan, the options will vest as to 25% on the firstanniversary, 50% on the second anniversary, 75% on the third anniversary and100% on the fourth anniversary of the date of grant. The options may not beexercised later than the tenth anniversary of the date of grant although theymay lapse earlier in other circumstances. The purchase price of the common shares underlying these options is the closingprice on 29th June 2007, which was 341.50 pence (GBP). For further information, please contact: Lancashire Holdings +1 441 278 8950Greg Lunn Financial Dynamics +44 20 7269 7200Rob BailhacheNick Henderson About Lancashire Lancashire, through its UK and Bermuda-based insurance subsidiaries, is a globalprovider of specialty insurance products. Its insurance subsidiaries carry theLancashire group rating of A minus (Excellent) from A.M. Best with a stableoutlook. Lancashire has capital in excess of $1 billion dollars and its CommonShares trade on AIM under the ticker symbol LRE. Lancashire is headquartered atMintflower Place, 8 Par-La-Ville Road, Hamilton HM 08, Bermuda. The mailingaddress is Lancashire Holdings Limited, P.O. Box HM 2358, Hamilton HM HX,Bermuda. For more information on Lancashire, visit the company's website atwww.lancashire.bm. 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 STATEMENTSOTHER THAN 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. SUCHFORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES ANDOTHER IMPORTANT FACTORS THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE ORACHIEVEMENTS OF THE GROUP TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS,PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKINGSTATEMENTS. THESE FORWARD-LOOKING STATEMENTS SPEAK ONLY AS AT THE DATE OF THISANNOUNCEMENT OR OTHER INFORMATION CONCERNED. LANCASHIRE HOLDINGS LIMITEDEXPRESSLY DISCLAIMS ANY OBLIGATION OR UNDERTAKING (SAVE AS REQUIRED TO COMPLYWITH ANY LEGAL OR REGULATORY OBLIGATIONS (INCLUDING THE AIM RULES)) TODISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS CONTAINEDHEREIN TO REFLECT ANY CHANGES IN THE GROUP'S EXPECTATIONS WITH REGARD THERETO ORANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH ANY SUCH STATEMENT ISBASED. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Lancashire Holdings