Helios Underwriting Plc Grant of LTIP Award and Director Dealing (3879V)
April 05 2023 - 2:00AM
UK Regulatory
TIDMHUW
RNS Number : 3879V
Helios Underwriting Plc
05 April 2023
5 April 2023
Helios Underwriting plc
("Helios", the "Company" or the "Group")
Grant of LTIP Award
and
Director Dealing
Helios, the unique investment vehicle which acquires and
consolidates underwriting capacity at Lloyd's, announces that on 4
April 2023 the following award over ordinary shares of 10 pence
each in the Company was granted under the Helios Underwriting plc
Long Term Incentive Plan to the following person discharging
managerial responsibilities:
Participant Position No. of Shares under
Award
Chief Executive
Martin Reith Officer 875,000
----------------- ---------------------
The award was granted as a nil cost option and will ordinarily
vest on the fifth anniversary of its grant, subject to the
grantee's continued service and the extent to which the award's
performance conditions are satisfied.
As summarised in the table immediately below; the award's
performance conditions set threshold to stretch targets in respect
of the Company's total shareholder return ("TSR") over the five
year period following the grant of the award. No portion of the
award shall vest unless the Company's TSR over the performance
period reaches the threshold target, for which 0% of the award
would vest, rising on a straight line basis to full performance
vesting of the award for the Company's TSR over the performance
period being equal to the stretch target or better.
Increase in the Company's % of award that vests
TSR over the 5 year performance
period
Less than 50% Nil
-------------------------
50% 0%
-------------------------
100% or more 100%
-------------------------
Between 50% and 100% Between 0% and 100% on a
straight-line basis
-------------------------
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 Martin Reith
------------------------------- ----------------------------------------
Reason for Notification
2
-------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- ----------------------------------------
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 option 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)
Nil 875,000
--------------------
------------------------------- ----------------------------------------
d) Aggregated information
* Aggregated volume Not applicable - single transaction
* Price
------------------------------- ----------------------------------------
e) Date of the transaction 4 April 2023
------------------------------- ----------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------- ----------------------------------------
For further information please contact:
Helios Underwriting plc
Martin Reith - Chief Executive Officer +44 (0)7720 292 505
Nigel Hanbury - Executive Deputy Chairman +44 (0)7787 530 404
Arthur Manners - Chief Financial Officer +44 (0)7754 965 917
Shore Capital (Nomad and Broker)
Robert Finlay +44 (0)20 7601 6100
David Coaten
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 GBP297m of capacity
for the 2023 account. The portfolio provides a good spread of
business being concentrated in property & casualty insurance
and reinsurance. For further information please visit
www.huwplc.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHEAXLLELLDEFA
(END) Dow Jones Newswires
April 05, 2023 02:00 ET (06:00 GMT)
Helios Underwriting (LSE:HUW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Helios Underwriting (LSE:HUW)
Historical Stock Chart
From Jul 2023 to Jul 2024