Helios Underwriting Plc Grant of LTIP Awards and Directors' Dealings (1470K)
December 19 2022 - 4:07AM
UK Regulatory
TIDMHUW
RNS Number : 1470K
Helios Underwriting Plc
19 December 2022
19 December 2022
Helios Underwriting plc
("Helios", the "Company" or the "Group")
Grant of LTIP Awards
and
Directors' Dealings
Helios, the unique investment vehicle which acquires and
consolidates underwriting capacity at Lloyd's, announces that on 16
December 2022 the following awards over ordinary shares of 10 pence
each in the Company were granted under the Helios Underwriting plc
Long Term Incentive Plan to the following person(s) discharging
managerial responsibilities:
Participant Position No. of Shares under
Award
Nigel Hanbury Chief Executive 304,761
------------------ ---------------------
Arthur Manners Finance Director 266,666
------------------ ---------------------
The awards were granted as nil cost options and will ordinarily
vest on the third anniversary of their grant, subject to the
grantee's continued service and the extent to which the award's
performance conditions are satisfied.
The Company's TSR over the % of award that vests
3 year performance period
Less than 30% 0%
--------------------------
30% 25%
--------------------------
60% 100%
--------------------------
Between 30% and 60% Between 25% and 100%
on a straight-line basis
--------------------------
The awards' performance conditions set threshold (30%) to
stretch (60%) targets in respect of the Company's total shareholder
return ("TSR") over the three year period following the grant of
the awards. No portion of the awards shall vest unless the
Company's TSR at the end of the performance period reaches the
threshold target, for which one quarter of the awards would vest,
rising on a straight line basis to full vesting of the awards for
the Company's TSR over the performance period being equal to the
stretch target or better.
The information set out below is provided in accordance with the
requirements of Article 19(3) of the Market Abuse Regulation (EU)
No 596/2014.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name 1. Nigel Hanbury
2. Arthur Manners
------------------------------- ----------------------------------------
Reason for Notification
2
-------------------------------------------------------------------------
a) Position/status 1. Chief Executive
2. Finance Director
------------------------------- ----------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- ----------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Helios Underwriting plc
------------------------------- ----------------------------------------
b) LEI 213800FX86DJW5TCM864
------------------------------- ----------------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------
a) Description of the Ordinary Shares of 10 pence each
financial instrument, ISIN - GB00B23XLS45
type of instrument
Identification code
------------------------------- ----------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
under the Helios Underwriting plc Long
Term Incentive Plan with an option
price of nil pence per share.
------------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
1. Nil 1. 304,761
2. Nil 2. 266,666
-----------------------
------------------------------- ----------------------------------------
d) Aggregated information
* Aggregated volume Not applicable - single transactions
* Price
------------------------------- ----------------------------------------
e) Date of the transaction 16 December 2022
------------------------------- ----------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------- ----------------------------------------
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
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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