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Lancashire Holdings Limited Advises Of Share Scheme Awards
On 28 March 2008, the following awards ("PSP Awards") over Common Shares in Lancashire Holdings Limited (the "Company") were made under the Company's Restricted Share Scheme (the "Scheme") to Directors of the Company:
|
Name of Director |
Number of Common Shares under the PSP Award |
|
Richard Brindle Simon Burton Neil McConachie |
360,001 109,378 101,032 |
No consideration is paid for the grant of a PSP Award which is structured as a conditional award. The vesting of a PSP Award is ordinarily subject to the continued employment of the participant and the satisfaction of performance conditions. A PSP Award will normally vest in three years time subject to the satisfaction of the performance conditions.
On 28 March 2008, the following awards ("Ordinary Awards") over Common Shares in the Company were made under the Scheme to Directors of the Company:
|
Name of Director |
Number of Common Shares under the Ordinary Award |
|
Richard Brindle Simon Burton Neil McConachie |
33,381 22,254 22,254 |
No consideration is paid for the grant of an Ordinary Award which is structured as a conditional award. An Ordinary Award will ordinarily vest in two years time, subject to the continued employment of the participant.
The Company was informed of the above transactions relating to PSP Awards and Ordinary 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 over 7,625,217 Common Shares, performance-vesting warrants over 2,745,078 Common Shares, options over 912,522 Common Shares awarded pursuant to the Company's Long Term Incentive Plan and the Scheme awards described above; Neil McConachie now holds 47,500 Common Shares, time-vesting warrants over 770,896 Common Shares, performance-vesting warrants over 686,270 Common Shares, options over 708,348 Common Shares awarded pursuant to the Company's Long Term Incentive Plan and the Scheme awards described above; Simon Burton now holds 240,000 Common Shares, time-vesting warrants over 559,182 Common Shares, performance-vesting warrants over 434,639 Common Shares, options over 800,000 Common Shares awarded pursuant to the Company's Long Term Incentive Plan and the Scheme awards described above.
For further information, please contact:
Lancashire Holdings Limited +1 441 278 8950
Neil McConachie
Greg Lunn
Financial Dynamics +44 20 7269 7200
Rob Bailhache
Nick Henderson
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.