Helios Underwriting Plc Acquisition of Shareholding, Issue of Equity & TVR (5862S)
17 November 2021 - 06:00PM
UK Regulatory
TIDMHUW
RNS Number : 5862S
Helios Underwriting Plc
17 November 2021
17 November 2021
Helios Underwriting plc
("Helios" or the "Company")
Acquisition of Shareholding
Issue of Equity
and
Total Voting Rights
Helios is pleased to announce that, in line with its strategy of
increasing underwriting capacity through acquisition, it has
acquired a 2 per cent. shareholding in a holding company of a group
of Limited Liability Vehicles of Lloyd's of London ("Lloyd's"). The
total consideration is GBP280,800 of which 50 per cent. has been
satisfied by the issue of 85,872 Ordinary Shares of GBP0.10 each in
the Company ("New Ordinary Shares") at GBP1.635 per share.
Application has been made for the New Ordinary Shares to be
admitted to trading on AIM. Admission is expected to occur at 8.00
a.m. on 22 November 2021 ("Admission").
Total Voting Rights
The New Ordinary Shares will rank pari passu with the Company's
existing issued ordinary shares ("Ordinary Shares"). The Company's
issued share capital following Admission will comprise 68,744,813
Ordinary Shares with voting rights and no restrictions on transfer
(excluding the 419,169 Ordinary Shares held in treasury and which
do not carry voting rights) and this figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) NO 596/2014.
For further information, please contact:
Helios Underwriting plc
Nigel Hanbury - Chief Executive +44 (0)7787 530 404 / nigel.hanbury@huwplc.com
Arthur Manners - Chief Financial Officer +44 (0)7754 965 917
Shore Capital (Nomad and Broker)
Robert Finlay +44 (0)20 7601 6100
David Coaten
Willis Re Securities (Financial Adviser)
Alastair Rodger +44 (0)20 3124 6033
Buchanan (PR)
Helen Tarbet / Henry Wilson / George Beale +44 (0)7872 604 453
+44 (0)20 7466 5111
About Helios
Helios provides a limited liability direct investment into the
Lloyd's insurance market and is quoted on the London Stock
Exchange's AIM market (ticker: HUW). Helios trades within the
Lloyd's insurance market writing approximately GBP133m of capacity
for the 2021 account. The portfolio provides a good spread of
business being concentrated in property insurance and reinsurance.
For further information please visit www.huwplc.com.
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END
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