LANCASHIRE
HOLDINGS LIMITED
15 June 2022
Hamilton, Bermuda
Share Repurchase
Programme
Lancashire Holdings Limited (“the Company” or “Lancashire”)
announces today that it has purchased the following number of its
common shares of US$0.50 each (the
“Shares”) on the London Stock Exchange from Morgan Stanley &
Co. International Plc. Such purchases were effected pursuant to the
instructions issued by the Company on 12 May
2022, as announced the following day:
Date of purchase: 14 June
2022.
Number of Shares purchased: 80,807.
Highest price per Share: 376.80p.
Lowest price per Share: 369.40p.
Average price per Share: 372.33p.
Since 16 May 2022, the Company has
purchased 1,335,421 Shares at a cost (including dealing and other
associated costs) of £5,275,175.68.
The Company has 244,010,007 Shares in issue. Following the above
transaction, the Company holds 1,335,421 of its Shares pursuant to
a custody arrangement and has 242,674,586 Shares in issue with
voting rights. Shares purchased under the programme will be used to
satisfy a number of future exercises of awards under its Restricted
Share Scheme.
This announcement does not constitute,
or form part of, an offer or any solicitation of an offer for
securities in any jurisdiction.
See further the “Note Regarding Forward-Looking Statements”
below.
For further information, please contact:
Lancashire Holdings
Limited
Christopher Head |
+44 20 7264 4145
chris.head@lancashiregroup.com |
Jelena Bjelanovic |
+44 20 7264 4066
jelena.bjelanovic@lancashiregroup.com |
FTI Consulting |
+44 20 37271046 |
Edward Berry |
Edward.Berry@FTIConsulting.com |
Tom Blackwell |
Tom.Blackwell@FTIConsulting.com |
About Lancashire
Lancashire, through its UK and Bermuda-based operating subsidiaries, is a
provider of global specialty insurance and reinsurance
products.
|
Financial
Strength
Rating (1) |
Financial Strength
Outlook (1) |
Long
Term
Issuer
Rating (2) |
A.M. Best |
A (Excellent) |
Stable |
Bbb+ |
S&P Global
Ratings |
A- |
Stable |
BBB |
Moody’s |
A3 |
Stable |
Baa2 |
(1) Financial Strength Rating and Financial Strength
Outlook apply to Lancashire Insurance Company Limited and
Lancashire Insurance Company (UK) Limited.
(2) Long Term Issuer Rating applies to Lancashire Holdings
Limited.
Lancashire Syndicates Limited benefits from Lloyd’s ratings:
A.M. Best: A (Excellent); S&P Global Ratings: A+ (Strong); and
Fitch: AA- (Very Strong).
Lancashire has capital of approximately $1.8 billion and its common shares trade on the
premium segment of the Main Market of the London Stock Exchange
under the ticker symbol LRE. Lancashire has its head office and
registered office at Power House, 7 Par-la-Ville Road, Hamilton HM
11, Bermuda.
The Bermuda Monetary Authority (“BMA”) is the Group Supervisor
of the Lancashire Group.
For more information, please visit Lancashire’s website at
www.lancashiregroup.com.
The information was submitted for publication, through the
agency of the contact persons set out above, at 07.00 BST on
15 June 2022.
NOTE REGARDING FORWARD-LOOKING
STATEMENTS:
CERTAIN STATEMENTS AND INDICATIVE PROJECTIONS (WHICH MAY INCLUDE
MODELLED LOSS SCENARIOS) MADE IN THIS RELEASE OR OTHERWISE THAT ARE
NOT BASED ON CURRENT OR HISTORICAL FACTS ARE FORWARD-LOOKING IN
NATURE INCLUDING, WITHOUT LIMITATION, STATEMENTS CONTAINING THE
WORDS “BELIEVES”, “ANTICIPATES”, “AIMS”, “PLANS”,“PROJECTS”,
“FORECASTS”, “GUIDANCE”, “INTENDS”, “EXPECTS”, “ESTIMATES”,
“PREDICTS”, “MAY”, “CAN”, “LIKELY”,“WILL”, “SEEKS”, “SHOULD”, OR,
IN EACH CASE, THEIR NEGATIVE OR COMPARABLE TERMINOLOGY.
ALL FORWARD-LOOKING STATEMENTS IN THIS RELEASE SPEAK ONLY AS AT
THE DATE OF PUBLICATION. LANCASHIRE HOLDINGS LIMITED EXPRESSLY
DISCLAIMS ANY OBLIGATION OR UNDERTAKING (SAVE AS REQUIRED TO COMPLY
WITH ANY LEGAL OR REGULATORY OBLIGATIONS INCLUDING THE RULES OF THE
LONDON STOCK EXCHANGE) TO
DISSEMINATE ANY UPDATES OR REVISIONS TO ANY FORWARD-LOOKING
STATEMENT TO REFLECT ANY CHANGES IN THE GROUP’S EXPECTATIONS OR
CIRCUMSTANCES ON WHICH ANY SUCH STATEMENT IS BASED. ALL SUBSEQUENT
WRITTEN AND ORAL FORWARD-LOOKING STATEMENTS ATTRIBUTABLE TO THE
GROUP OR INDIVIDUALS ACTING ON BEHALF OF THE GROUP ARE EXPRESSLY
QUALIFIED IN THEIR ENTIRETY BY THIS NOTE.