Helios Underwriting Plc Acquisition of Limited Liability Vehicle (7971F)
14 Luglio 2023 - 8:00AM
UK Regulatory
TIDMHUW
RNS Number : 7971F
Helios Underwriting Plc
14 July 2023
14 July 2023
Helios Underwriting plc
("Helios" or the "Company")
Acquisition of Limited Liability Vehicle
Issue of Equity
and
Total Voting Rights
Helios is pleased to announce that, in line with its strategy of
increasing underwriting capacity through acquisition, it has
acquired the entire issued capital of Chorlton Underwriting Limited
for a total consideration of GBP1,996,830, of which GBP200,000 has
been satisfied by the issue of 123,457 ordinary shares of GBP0.10
each in the Company ("New Ordinary Shares") at GBP1.62 per share
with the remainder satisfied in cash.
Application has been made for the New Ordinary Shares to be
admitted to trading on AIM. Admission is expected to occur at 8.00
a.m. on 18 July 2023 ("Admission").
Total Voting Rights
The New Ordinary Shares will rank pari passu with the Company's
existing issued ordinary shares ("Ordinary Shares"). The Company's
issued share capital following Admission will comprise 77,526,664
Ordinary Shares with voting rights and no restrictions on transfer
(excluding the 419,169 Ordinary Shares held in treasury and which
do not carry voting rights) and this figure may be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
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
Numis (Nomad and Broker)
Giles Rolls / Charles Farquhar +44 (0)20 7260 1000
Buchanan (PR)
Helen Tarbet / 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 .
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END
MSCEAPXAFSADEEA
(END) Dow Jones Newswires
July 14, 2023 02:00 ET (06:00 GMT)
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