Helios Underwriting Plc Result of GM, TVR and Directors' Participation (3422U)

TIDMHUW

RNS Number : 3422U

Helios Underwriting Plc

01 April 2021

1 April 2021

Helios Underwriting plc

("Helios" or the "Company")

Result of General Meeting

Total Voting Rights

and

Directors' Participation

Result of General Meeting

Further to the Company's announcements of 8 March, 9 March and 30 March 2021 (the "Announcements"), Helios, the unique investment vehicle which acquires and consolidates underwriting capacity at Lloyd's, is pleased to announce that all Resolutions put to Shareholders at the General Meeting held earlier today were duly passed.

Application has therefore been made for, in aggregate, 34,241,887 New Ordinary Shares to be admitted to trading on AIM comprising 6,037,625 Placing Shares, 27,375,000 Subscription Shares and the 829,262 Open Offer Shares for which valid applications were received under the Open Offer. Admission is expected to occur at 8.00 am on 9 April 2021.

Total Voting Rights

Following Admission, the Company will have 67,754,063 Ordinary Shares in issue admitted to trading on AIM (excluding the 419,169 Ordinary Shares held in treasury and which do not carry voting rights). 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Directors' Participation

The Directors' resulting shareholdings immediately following Admission are detailed below:

 
 Director                        Current    % of Existing   Open Offer               Enlarged    % of Enlarged 
                            shareholding    Share Capital       Shares           shareholding    Share Capital 
                                                                                 on Admission 
 Nigel Hanbury                 9,227,294            27.5%            -              9,227,294           13.62% 
 Arthur Manners                  909,868             2.7%            -                909,868            1.34% 
 Edward Fitzalan-Howard          372,864             1.1%       10,000                382,864            0.57% 
 Michael Cunningham               84,751             0.3%        2,097                 86,848            0.13% 
 Andrew Christie                  33,488             0.1%          829                 34,317            0.05%

* 300,000 of Nigel Hanbury's shares are jointly owned in accordance with the Company's Joint Share Ownership Plan, as detailed in the announcement made by the Company on 14 December 2017. Includes members of his family.

** 200,000 of Arthur Manner's shares are jointly owned in accordance with the Company's Joint Share Ownership Plan, as detailed in the announcement made by the Company on 14 December 2017. Includes members of his family.

This announcement should be read in conjunction with the Announcements and the full text of the Company's circular dated 9 March 2021 ("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.

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

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 GBP110m 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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