Helios Underwriting Plc Acquisition (4489H)
March 13 2015 - 12:02PM
UK Regulatory
TIDMHUW
RNS Number : 4489H
Helios Underwriting Plc
13 March 2015
13 March 2015
Helios Underwriting plc
("HUW" or the "Company")
Completion of Acquisition of Lloyd's Limited Liability
Vehicle
Further to the announcement on 16 February 2015, the Company is
pleased to announce that the acquisition of Updown Underwriting
Limited has completed.
Application will be made for the 429,839 new ordinary shares in
the Company issued as part of the consideration for the acquisition
to be admitted to trading on AIM and this is expected to become
effective on 20 March 2015. Following the issue of the new shares:
(i) Nicholas Wentworth Stanley will hold 429,839 ordinary shares in
the Company, representing 4.8% of the Company's issued ordinary
shares; and (ii) the Company will have 8,956,787 ordinary shares in
issue with each share carrying the right to one vote. There are no
shares held in treasury. The total number of voting rights in the
Company is therefore 8,956,787 and this figure may be used by
shareholders as the denominator for the calculations by which they
determine if they are required to notify their interest in, or a
change to their interest in, the Company under the Disclosure and
Transparency Rules.
For further information please contact:
HUW nigel.hanbury@huwplc.com
Nigel Hanbury - Chief
Executive
Smith & Williamson Corporate
Finance
David Jones 020 7131 4000
Westhouse Securities
Robert Finlay 020 7601 6100
About HUW
HUW 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). HUW's subsidiary underwriting
vehicles trade within the Lloyd's insurance market as corporate
members of Lloyd's writing GBP23 million of capacity for the 2015
account. The portfolio provides a good spread of classes of
business being concentrated in property insurance and reinsurance.
For further information please visit www.huwplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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