Lancashire Holdings Ltd – Treasury Shares - Transfer

Hamilton, Bermuda – 18 December, 2015 – Lancashire Holdings Limited (“Lancashire” or “the Company”; Ticker: LHL BH) today announced that it has received confirmation today that the transfer of 272,124 common shares from treasury took place on 16  December 2015. The transfer of these shares from treasury was made in satisfaction of a request to exercise 477,700 warrants on a cashless basis at a notional share price of US$9.45 and an exercise price of US$5.00 per share.

The transfer of common shares from treasury to satisfy the Company’s obligations under various plans was authorised at a meeting of the Company’s Board of Directors on 2 February 2015.

Following this transfer, the Company’s issued share capital consists of 200,341,918 common shares of US$0.50 each, of which 1,841,526 common shares are held in treasury. Therefore, the total number of common shares in issue with voting rights (excluding shares held in treasury) is 198,500,392.

The above figure of 198,500,392 may be used by shareholders as the denominator for the calculation of notifications of shareholder interests in the Company required under the Financial Conduct Authority's Disclosure Rules and Transparency Rules.

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