Lancashire Holdings In Close Period, OKs Macquarie Buy Back Program

2nd Jul 2010 18:23

LONDON (Dow Jones)--Lancashire Holdings Limited (LRE.LN), a provider of specialty insurance products, said Friday it will shortly be entering a close period, in connection with its share buy-back program. MAIN FACTS: -Entered into an irrevocable non-discretionary arrangement with Macquarie Capital (Europe) Limited to repurchase on its behalf and within certain pre-set parameters, Common Shares of $0.50 each from July 6 until the earlier of the completion of the Repurchase Program or the Company's announcement of its second quarter 2010 results which is scheduled for release on August 5. -Macquarie has been granted the authority to repurchase shares up to an aggregate value, including costs, of $35 million. -The repurchased shares will be cancelled. -Confirms that it currently has no unpublished price sensitive information. -Shares closed Friday at 497.1 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires July 02, 2010 13:23 ET (17:23 GMT)