Lancashire Holdings

Director's Dealing • May 12, 2016

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LANCASHIRE HOLDINGS LIMITED - Director/PDMR Shareholding

PR Newswire

London, May 12

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons

1.	Name of the issuer Lancashire Holdings Limited	2.	State whether the notification related to (i) a transaction notified in accordance with DTR 3.1.2 R, (ii) a disclosure made in accordance with LR 9.8.6R(1) or (iii) a disclosure made in accordance with section 793 of the Companies Act (2006) (i) a transaction notified in accordance with DTR 3.1.2 R
3.	Name of the person discharging managerial responsibilities/director Elaine Whelan (Executive Director and Group  Chief Financial  Officer )	4.	State whether notification relates to a person connected with a person discharging managerial responsibilities/director named in 3 and identify connected person N/A
5.	Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a non-beneficial interest Persons referred to at 3 above	6.	Description of shares (including class), debentures or derivatives or financial instruments relating to shares Lancashire Holdings Limited (“LHL”)  Restricted Share Scheme Award and LHL Restricted Share Scheme Awards Bonus Deferral Plan
7.	Name of registered shareholder(s) and, if more than one, the number of shares held by each of them Elaine Whelan	8.	State the nature of the transaction Exercise of 109,937  Restricted Share      Awards granted as nil-cost options over common shares of US$0.50 each, of which 87,065  were granted under  the LHL  Restricted Share Scheme and  22,872  were granted under the  LHL  Restricted Share  Scheme Awards Bonus Deferral Plan and subsequent  sale of 6,620 shares to cover tax liabilities
9.	Number of shares, debentures or financial instruments relating to shares acquired 109,937	10.	Percentage of issued class acquired (treasury shares of the class should not be taken into account when calculating percentage) 0.0551%
11.	Number of shares, debentures or financial instruments relating to shares disposed 6,620	12.	Percentage of issued class disposed (treasury shares of the class should not be taken into account when calculating percentage) 0.0033%
13.	Price per share or value of transaction 4,634 shares at £5.547313 1,986 shares at £5.558213	14.	Date and place of transaction 09 May  2016 – London, England 10 May 2016 – London England
15.	Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage) 428,976 common shares - Totalling 0.2150% (of which 11,590 shares belong to connected person Kilian Whelan)	16.	Date issuer informed of transaction 11 May 2016

If a person discharging managerial responsibilities has been granted options by the issuer complete the following boxes
17.	Date of grant	18.	Period during which or date on which exercisable
19.	Total amount paid (if any) for grant of the option	20.	Description of shares or debentures involved (class and number)
21.	Exercise price (if fixed at time of grant) or indication that price is to be fixed at the time of exercise	22.	Total number of  shares or debentures over which options held following notification

23.	Any additional information In addition to the securities noted in question 15 above, Elaine Whelan also holds the following interests in the Company: Restricted Share Scheme Awards Bonus Deferral Plan – 66,286 (vesting is subject to time and employment conditions only) Restricted Share Scheme Awards– 428,242* *Pursuant to the Rules of the Restricted Share Scheme, the number of shares that will actually vest depends on the satisfaction of certain conditions including employment, performance and time conditions.  N.B: Elaine Whelan has sold only the number of shares required to cover tax liabilities and fees. She has retained the remainder of the resulting shares.	24.	Name of contact and telephone number for queries Christopher Head + 44 (0) 207 264 4145

Name of authorised official if issuer for making notification

Christopher Head

Company Secretary

12 May 2016