Business
Share Repurchase Programme
Share Repurchase Programme.
About this update from Lancashire Holdings Limited
[{"type":"text","content":"\n\n \n \n\n\n\n\nShare Repurchase Programme\nLANCASHIRE HOLDINGS LIMITED22 November 2023Hamilton, BermudaShare Repurchase ProgrammeLancashire Holdings Limited (the “Company” or “Lancashire”) today announces that, further to the announcement made in the Company’s Q3 2023 Trading Statement dated 9 November 2023, it will commence a share repurchase programme of its common shares of US$0.50 each (the “Shares”) up to a maximum consideration of US$50,000,000 (the “Aggregate Purchase Price”) (the “Programme”).Lancashire announces that it has entered into an instruction to Morgan Stanley & Co. International Plc (“Morgan Stanley”) in relation to the purchase by Morgan Stanley, acting as riskless principal during the period commencing on 22 November 2023 and ending no later than 29 February 2024, of up to 24,401,000 Shares for an aggregate amount of no greater than the Aggregate Purchase Price and the simultaneous on-sale of such Shares by Morgan Stanley to Lancashire. Any purchase of Shares in relation to this announcement will be executed in accordance with the relevant regulations (including but not limited to the Listing Rules) and Lancashire’s general authority, as granted by shareholders at Lancashire’s AGM held on the 26 April 2023, to make market purchases of Shares. Lancashire will announce any market repurchase of Shares no later than 7:30am on the business day following the day on which the repurchase occurred. Shares purchased under the Programme will either be used to satisfy a number of future exercises of awards under the Company’s Restricted Share Scheme; or will be held in treasury; or will be cancelled.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: \t\t\t\t\t\tLancashire Holdings Limited\t\t\t\t\t\t\t\t\t\tChristopher Head\t\t\t+44 20 7264 4145\t\t\t\t\t\t\t\t\t\[email protected]\t\t\t\t\t\t\tJelena Bjelanovic\t\t\t+44 20 7264 4066\t\t\t\t\t\t\t\t\t\[email protected]\t\t\t\t\t\t\tFTI Consulting\t\t\t+44 20 37271046\t\t\t\t\t\t\tEdward Berry\t\t\[email protected]\t\t\t\t\t\t\tTom Blackwell\t\t\[email protected]\t\t\tAbout LancashireLancashire, through its UK a...