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LANCASHIRE HOLDINGS LIMITED - Treasury Shares - Transfer
Hamilton, Bermuda – 15 May, 2015 – Lancashire Holdings Limited (“Lancashire” or “the Company”; Ticker: LHL BH) today announced that it has received confirmation that the transfer of 330,713 common shares from treasury took place on 14 May 2015. The transfer of these shares from treasury was made in satisfaction of a request by the Trustees of the Lancashire Foundation (“the Foundation”) to exercise 648,143 warrants on a cashless basis at a notional share price of $9.65 and an exercise price of $5.00 per share for 486,107 warrants and $3.90 per share for 162,036 warrants respectively. The Foundation was originally granted the warrants in August 2007 with an expiry date of 16 December 2015 to support its charitable activities. The Trustees of the Foundation are Charles Mathias, Michael Connor, Derek Stapley, Richard Williams and Martin Thomas, who is also the Chairman and a Director of the Company’s Board.
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 2,252,221 common shares are held in treasury. Therefore, the total number of common shares in issue with voting rights (excluding shares held in treasury) is 198,089,697.
The above figure of 198,089,697 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.
For further information, please contact:
Lancashire Holdings Limited
Christopher Head
+44 20 7264 4145
chris.head@lancashiregroup.com
Jonny Creagh-Coen
+44 20 7264 4066
Haggie Financial
+44 20 7417 8989
Peter Rigby
(Peter Rigby mobile +44 7803851426)
Investor enquiries and questions can also be directed to info@lancashiregroup.com or by accessing the Group’s website www.lancashiregroup.com