Last checked at 27 Oct 2016 13:22
27 October 2016
Helios Underwriting PLC
("Helios" or the "Company")
Results of General Meeting and of Open Offer
and
Admission to AIM
Helios Underwriting PLC is pleased to announce that all the resolutions were duly passed at the Company's General Meeting held earlier today.
The Open Offer closed for acceptances at 11.00 a.m. on 26 October 2016. The Company has received valid acceptances in respect of 482,943 New Ordinary Shares from Qualifying Shareholders, representing 22.7 per cent. of the New Ordinary Shares available under the Open Offer. The Company has therefore raised gross proceeds of approximately £724,000 through the Open Offer. In aggregate, the Company has raised approximately £5.97 million (gross) pursuant to the Placing and the Open Offer.
Admission to trading on AIM of the 482,943 New Ordinary Shares is expected to take place at 8.00 a.m. (London time) on 28 October 2016.
Total Voting Rights
Following Admission, the Company's issued share capital will comprise 14,604,240 Ordinary Shares. There are no shares held in treasury.
Therefore, the figure of 14,604,240 Ordinary Shares should be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Capitalised terms used in this announcement have, unless otherwise stated, the same meaning given to them in the circular posted to Shareholders on 10 October 2016.
-Ends-
For further information, please contact:
Helios
Nigel Hanbury - Chief Executive 020 7863 6655 / nigel.hanbury@huwplc.com
Arthur Manners - Chief Financial Officer 07754 965917
Stockdale Securities 020 7601 6100
Robert Finlay
Richard Johnson
David Coaten
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 £33 million of capacity for the 2016 account. The portfolio provides a good spread of classes of business being concentrated in property insurance and reinsurance. For further information, please visit www.huwplc.com.