Date: Monday 28 Jun 2010
Lancashire Holdings non-executive director Barry Volpert is chief executive of private equity firm Crestview, which has raised more than £4.7m from the sale of shares in the property, aviation and marine insurer.The share prices of the five separate disposals varied from 497p to just over 500p. Crestview still owns 3.6% of Lancashire.
In a separate deal, Lancashire bought back 88,181 shares at 497.3p each. It bought back $12.9m worth of shares in the first quarter of 2010.
Finance director Neil McConachie has sold 18,235 shares at 498p a share to raised £90,810. This is his second sale in June having raised just over £373,000 from the sale of 75,000 shares at 497.5p a share on the seventeenth.
McConachie has been with Lancashire since February 2006. Bermuda-based Lancashire switched from AIM to the Main Market in March 2009. The last AIM share price was 470p a share but in January a special dividend of 76p a share was paid. That was followed by a final dividend of 6.4p a share in April.
Lancashire had a book value per share of $7.38 at the end of March 2010. Net premiums written more than doubled from $99.2m to $203.5m in the first quarter of 2010.
Lancashire has secured a $200m two year credit facility with Lloyds and will report its second quarter figures on 5 August.Top Director Buys
Mid Wynd International Inv Trust (MWY)
Director name: Mr Russell Napier
Amount purchased: 5,175 @ 940.00p
Value: £48,645
Tristel (TSTL)
Director name: Mr Francisco Angel Soler
Amount purchased: 75,000 @ 53.00p
Value: £39,750
Chemring Group (CHG)
Director name: Mr Kenneth C Scobie
Amount purchased: 1,000 @ 2,992.00p
Value: £29,920
Chemring Group (CHG)
Director name: Mr Kenneth C Scobie
Amount purchased: 1,000 @ 2,979.00p
Value: £29,790
Trinity Mirror (TNI)
Director name: Mrs Sylvia (Sly) Bailey
Amount purchased: 33,724 @ 73.50p
Value: £24,787
Trinity Mirror (TNI)
Director name: Sir Sir Ian Gibson
Amount purchased: 26,854 @ 74.10p
Value: £19,899
Chamberlin and Hill (CMH)
Director name: Mr Tom Brown
Amount purchased: 15,000 @ 74.00p
Value: £11,100
Top Director Sells
Lancashire Holdings (LRE)
Director name: Mr Barry Stuart Volpert
Amount sold: 589,808 @ 500.00p
Value: £2,949,040
Lancashire Holdings (LRE)
Director name: Mr Barry Stuart Volpert
Amount sold: 157,863 @ 500.00p
Value: £789,315
Lancashire Holdings (LRE)
Director name: Mr Barry Stuart Volpert
Amount sold: 104,694 @ 500.42p
Value: £523,910
New World Resources (NWR)
Director name: Mr Steven Schuit
Amount sold: 60,000 @ 712.90p
Value: £427,740
Sainsbury (J) (SBRY)
Director name: Mr Roger Burnley
Amount sold: 100,000 @ 326.10p
Value: £326,100
Lancashire Holdings (LRE)
Director name: Mr Barry Stuart Volpert
Amount sold: 48,630 @ 497.03p
Value: £241,706
Lancashire Holdings (LRE)
Director name: Mr Barry Stuart Volpert
Amount sold: 41,683 @ 497.02p
Value: £207,173
Lancashire Holdings (LRE)
Director name: Mr Neil William McConachie
Amount sold: 18,235 @ 498.00p
Value: £90,810
Discovery Metals (CDI) (DME)
Director name: Mr Gordon Galt
Amount sold: 101,219 @ 62.27p
Value: £63,029
Discovery Metals (CDI) (DME)
Director name: Mr Gordon Galt
Amount sold: 100,000 @ 61.77p
Value: £61,770
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