Helios Underwriting Plc Result of Open Offer (2764J)
December 12 2022 - 2:00AM
UK Regulatory
TIDMHUW
RNS Number : 2764J
Helios Underwriting Plc
12 December 2022
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
12 December 2022
Helios Underwriting plc
("Helios" or the "Company")
Result of Open Offer
Further to its announcements of 23 November and 24 November 2022
(the "Announcements"), 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 9
December 2022 and the Company announces that it has received valid
acceptances from Qualifying Shareholders in respect of 152,268 Open
Offer Shares, including applications received under the Excess
Application Facility, which at the Issue Price has raised, in
aggregate, approximately GBP0.24 million.
Arthur Manners, Finance Director of the Company, and Andrew
Christie, Non-Executive Director of the Company, subscribed for
10,141 Open Offer Shares and 234 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 14 December 2022.
This announcement should be read in conjunction with the
Announcements and the full text of the Company's circular dated 24
November 2022 ("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
Gallagher (Financial Adviser) +44 (0)20 3124 6033
Deepon Sen Gupta
Alastair Rodger
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 GBP232 million of
underwriting capacity for the 2022 year of 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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