31st Mar 2008 07:02
Lancashire Holdings Limited31 March 2008 LANCASHIRE HOLDINGS LIMITED Hamilton, Bermuda, 31 March 2008 SHARE SCHEME AWARDS This notification is made in accordance with Rule 17 of, and Schedule 5 to, theAIM Rules. On 28 March 2008, the following awards ("PSP Awards") over Common Shares inLancashire Holdings Limited (the "Company") were made under the Company'sRestricted Share Scheme (the "Scheme") to Directors of the Company: Name of Director Number of Common Shares under the PSP Award Richard Brindle 360,001 Simon Burton 109,378 Neil McConachie 101,032 No consideration is paid for the grant of a PSP Award which is structured as aconditional award. The vesting of a PSP Award is ordinarily subject to thecontinued employment of the participant and the satisfaction of performanceconditions. A PSP Award will normally vest in three years time subject to thesatisfaction of the performance conditions. On 28 March 2008, the following awards ("Ordinary Awards") over Common Shares inthe Company were made under the Scheme to Directors of the Company: Name of Director Number of Common Shares under the Ordinary Award Richard Brindle 33,381 Simon Burton 22,254 Neil McConachie 22,254 No consideration is paid for the grant of an Ordinary Award which is structuredas a conditional award. An Ordinary Award will ordinarily vest in two yearstime, subject to the continued employment of the participant. The Company was informed of the above transactions relating to PSP Awards andOrdinary Awards on 28 March 2008. Following these awards, Richard Brindle now holds 392,745 Common Shares,founders' warrants over 46,260 Common Shares, time-vesting warrants over7,625,217 Common Shares, performance-vesting warrants over 2,745,078 CommonShares, options over 912,522 Common Shares awarded pursuant to the Company'sLong Term Incentive Plan and the Scheme awards described above; Neil McConachienow holds 47,500 Common Shares, time-vesting warrants over 770,896 CommonShares, performance-vesting warrants over 686,270 Common Shares, options over708,348 Common Shares awarded pursuant to the Company's Long Term Incentive Planand the Scheme awards described above; Simon Burton now holds 240,000 CommonShares, time-vesting warrants over 559,182 Common Shares, performance-vestingwarrants over 434,639 Common Shares, options over 800,000 Common Shares awardedpursuant to the Company's Long Term Incentive Plan and the Scheme awardsdescribed above. For further information, please contact: Lancashire Holdings Limited +1 441 278 8950 Neil McConachieGreg Lunn Financial Dynamics +44 20 7269 7114 Rob 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.lancashiregroup.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Lancashire Holdings