Helios Underwriting Plc Result of Open Offer (2359G)
November 24 2020 - 2:00AM
UK Regulatory
TIDMHUW
RNS Number : 2359G
Helios Underwriting Plc
24 November 2020
24 November 2020
Helios Underwriting plc
("Helios" or the "Company")
Result of Open Offer
Further to the Company's announcement of 2 November 2020 (the
"Announcement"), Helios, the unique investment vehicle which
acquires and consolidates underwriting capacity at Lloyd's,
announces the result of the Open Offer to Qualifying
Shareholders.
The Open Offer closed for applications at 11.00 a.m. on 23
November 2020 and the Company announces that it has received valid
acceptances from Qualifying Shareholders in respect of 252,843 Open
Offer Shares, which includes applications received under the Excess
Application Facility. This represents 18.3 per cent. of the Open
Offer Shares available under the Open Offer which at the Issue
Price has raised approximately GBP303,412.
Michael Cunningham, Non-Executive Chairman of the Company, and
Andrew Christie, Non-Executive Director of the Company, each
subscribed for their Open Offer Entitlement, being 6,053 Open Offer
Shares and 2,392 Open Offer Shares, respectively.
It is expected that, subject to the Open Offer becoming
unconditional in all respects, Admission will become effective and
that dealings in the Open Offer Shares will commence at 8.00 a.m.
on 27 November 2020.
This announcement should be read in conjunction with the
Announcement and the full text of the Company's circular dated 2
November 2020 ("Circular"), copies of which are available on the
Company's website at www.huwplc.com. Capitalised terms in this
announcement have the same meaning as given in the Circular.
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 7408 4080
David Coaten
Henry Willcocks
Willis Re Securities (Financial Adviser)
Alastair Rodger +44 (0)20 3124 6033 /
Alastair.rodger@willistowerswatson.com
Quentin Perrot +44 (0)20 3124 6499 /
Quentin.perrot@willistowerswatson.com
Buchanan
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 GBP70m of capacity
for the 2020 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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