REG - Helios Underwriting - Grant of LTIP Awards

Helios UnderwritingAnnouncement

30/09/2024 07:00

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RNS Number : 1070G  Helios Underwriting Plc  30 September 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 27 September 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 discharging managerial responsibilities:

 Participant     Position                 Award Designation  Number of Shares under Award
 Adhiraj Maitra  Chief Operating Officer  Buy-out Award      70,000
 Adhiraj Maitra  Chief Operating Officer  Normal LTIP Award  112,500

The awards were granted as nil cost options.

The Buy-out Award will ordinarily vest on 5 March 2025, subject to the
grantee's continued service.

The Normal LTIP Award will ordinarily vest on the 14 June 2027, subject to the
grantee's continued service and the extent to which such award's performance
conditions are satisfied. The Normal LTIP Award's total shareholder return
based performance conditions and underlying three year performance period are
the same as apply to the LTIP Awards granted on 14 June 2024 to the Company's
Executive Directors as previously disclosed.

A post vesting holding period (net of tax) that expires on 14 June 2029
applies in respect of the Normal LTIP Award.

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. Adhiraj Maitra

                                                                  2. Adhiraj Maitra

 2   Reason for Notification
 a)  Position/status                                              1. Chief Operating Officer

                                                                  2. Chief Operating 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 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

                                                                            70,000

                                                                 Buy-out Award

                                                                  2. Nil    112,500

                                                                            Normal LTIP Award

 d)  Aggregated information

     -  Aggregated volume                                         Not applicable - single transactions

     -  Price
 e)  Date of the transaction                                      27 September 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

27 September 2024

f)

Place of the transaction

Outside of a trading venue

 

 

For more information, please contact:

Helios Underwriting plc

Michael Wade - Executive Chairman

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 / Nathan Hambrook-Skinner

+44 (0)7703 330 199 / +44 (0)7977 817 092

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 £512m 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

 

 

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