Helios Underwriting - Grant of LTIP Award and Director Dealing
05/04/2023 07:00
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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
Martin Reith Chief Executive 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 TSR over the 5 year performance period % of award that vests
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.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Martin Reith
2 Reason for Notification
a) Position/status Chief Executive Officer
b) Initial notification/Amendment Initial Announcement
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Helios Underwriting plc
b) LEI 213800FX86DJW5TCM864
4 Details of the transaction(s): section to be repeated 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 financial instrument, type of instrument Ordinary Shares of 10 pence each
Identification code ISIN - GB00B23XLS45
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
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
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 £297m 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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