Helios Underwriting Plc Result of Open Offer (8608T)
March 30 2021 - 01:00AM
UK Regulatory
TIDMHUW
RNS Number : 8608T
Helios Underwriting Plc
30 March 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
30 March 2021
Helios Underwriting plc
("Helios" or the "Company")
Result of Open Offer
Further to the Company's announcements of 8 March and 9 March
2021 (the "Announcement"), 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 29 March
2021 and the Company announces that it has received valid
acceptances from Qualifying Shareholders in respect of 829,262 Open
Offer Shares, which includes applications received under the Excess
Application Facility. This represents approximately 45 per cent. of
the Open Offer Shares available under the Open Offer which at the
Issue Price has raised approximately GBP1.33 million.
Michael Cunningham, Non-Executive Chairman of the Company,
Andrew Christie, Non-Executive Director of the Company, and Edward
Fitzalan-Howard, Non-Executive Directors of the Company, subscribed
for 4,708 Open Offer Shares, 1,860 Open Offer Shares and 10,000
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 9 April 2021.
This announcement should be read in conjunction with the
Announcement 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.
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 GBP70m of capacity
for the 2020 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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