REG - Helios Underwriting - Grant of LTIP Awards

Helios UnderwritingAnnouncement

17/06/2024 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240617:nRSQ5691Sa&default-theme=true

RNS Number : 5691S  Helios Underwriting Plc  17 June 2024

 

Helios Underwriting plc

("Helios", the "Company" or the "Group")

Notification and public disclosure of transactions by PDMRS

Grant of LTIP Awards

Helios, the unique investment vehicle which acquires and consolidates
underwriting capacity at Lloyd's, announces that on 14 June 2024 the
following awards over ordinary shares of 10 pence each in the Company were
granted under the Helios Underwriting plc Long Term Incentive Plan to the
following person(s) discharging managerial responsibilities:

 Participant     Position                          No. of Shares under Award
 Nigel Hanbury   Non-Executive Deputy Chairman  261,049
 Arthur Manners  Finance Director               259,668

The awards were granted as nil cost options and will ordinarily vest on the
third anniversary of 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 Company's total
shareholder return ("TSR") over the three year period following the grant of
the award. No portion of the awards shall performance vest unless the
Company's TSR over the performance period reaches the threshold target, for
which 25% of the award would performance 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.

 The Company's TSR over the 3 year performance period  % of award that vests
 Less than 30%                                         Nil
 30%                                                   25%
 60% or more                                           100%
 Between 30% and 60%                                   Between 25% and 100% on a straight-line basis

The awards are also subject to an underpin condition and subject to a post
vesting holding period (net of tax) that expires on the fifth anniversary of
the grant of the awards.

The information set out below is provided in accordance with the requirements
of UK MAR.

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         1. Nigel Hanbury

                                                                  2. Arthur Manners

 2   Reason for Notification
 a)  Position/status                                              1. Non-Executive Deputy Chairman

                                                                  2. Finance Director

 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 options 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)

                                                            1. Nil

                                                                            261,049

                                                                  2. Nil    259,668

 d)  Aggregated information

     -  Aggregated volume                                         Not applicable - single transactions

     -  Price
 e)  Date of the transaction                                      14 June 2024
 f)  Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

-  Aggregated volume

-  Price

 

Not applicable - single transactions

e)

Date of the transaction

14 June 2024

f)

Place of the transaction

Outside of a trading venue

 

For further information, please contact:

 

Helios Underwriting plc

 

Michael Wade - Executive Chairman
Michael.Wade@huwplc.com (mailto:Michael.Wade@huwplc.com)

Arthur Manners - Chief Financial Officer

+44 (0)203 965 6441

Deutsche Numis (Nomad and
Broker)

 

Giles Rolls / Charles
Farquhar

+44 (0)20 7260 1000

 

FTI Consulting

 

Ed Berry / Tom O'Brien

+44 (0)7703 330 199 / +44 (0)7929 021 492

 

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 £507m of capacity for the 2024 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHEASKLFFLLEFA