Helios Underwriting Plc Acquisition, Issue of Equity & Total Voting Rights (1213W)
December 20 2021 - 2:00AM
UK Regulatory
TIDMHUW
RNS Number : 1213W
Helios Underwriting Plc
20 December 2021
20 December 2021
Helios Underwriting plc
("Helios" or the "Company")
Acquisition of Limited Liability Vehicle
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 the entire issued capital of Exalt Underwriting Limited
for a total consideration of GBP409,550, of which GBP241,792 has
been satisfied by the issue of 141,399 Ordinary Shares of GBP0.10
each in the Company ("New Ordinary Shares") at GBP1.71 per share
with the remainder satisfied in cash.
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 23 December 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 68,886,212
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 GBP137m 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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