Result of Open Offer

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 £1.33 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 £70m 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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