REG - Helios Underwriting - Share Repurchase Programme - 2025

Helios UnderwritingAnnouncement

08/04/2025 07:02

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RNS Number : 0055E  Helios Underwriting Plc  08 April 2025

 

8(th) April 2025

Helios Underwriting plc

("Helios" or the "Company")

Share Repurchase Programme - 2025

Helios, the only publicly traded company offering instant access to a diverse
portfolio of syndicates at Lloyd's of London, announces that the Board of
Directors has approved a share repurchase programme to return up to a maximum
aggregate amount £2,000,000 to the Company's shareholders ("The Programme").

About the Programme

·      The aggregate number of ordinary shares of 10 pence each
("Ordinary Shares") acquired by the Company pursuant to this share purchase
programmes shall not exceed the maximum number of Ordinary Shares which the
Company is authorised to purchase pursuant to the authority obtained at the
Company's AGM to repurchase up to a maximum 7,474,514 Ordinary Shares
("General Authority") that was approved at the 2024 AGM on 28 June 2024.

·      On 23(rd) July 2024 the Company announced a further repurchase of
2,466,666 ordinary shares, leaving authority to re-purchase a further
5,007,848 ordinary shares

·      In accordance with the General Authority, the maximum price paid
per Ordinary Share acquired by the Company pursuant to the Programme is to be
no more than:

o  105% of the average middle market closing price of an Ordinary Share on
AIM for the five business days preceding the date of purchase; and

o  the higher of the price of the last independent trade and the highest
current independent purchase bid for Ordinary Shares on the trading venue
where the purchase is carried out

·      The Programme will commence on the date of this announcement and
will continue until the earlier of either the expiration of the General
Authority or until the maximum pecuniary amount has been purchased under the
Programme.

·      The purchased Ordinary Shares will be held by the Company in
treasury at the Company's discretion for later reissue or cancellation. Shares
held in treasury are not entitled to dividends and have no voting rights at
the Company's general meetings.

·      Share repurchases will take place in open market transactions and
may be made from time to time depending on market conditions, share price and
trading volume. The maximum price paid per Ordinary Share will be no more than
the net tangible asset value of the Company.

·      The Company confirms that it currently has no unpublished inside
information.

·      The Programme will operate in accordance with and under the terms
of the relevant General Authority, and within the regulatory limit on the
quantity of Ordinary Shares the Company may purchase on a single day. The
Programme will be conducted within the parameters of the Market Abuse
Regulation 596/2014/EU and the delegated regulations made pursuant to it.

·      However, there will be circumstance where the Company conducts
share repurchases such that they exceed 25 per cent of the average daily
volume in Ordinary Shares for the 20 trading days prior to the share
repurchase.

·      As at 7(th) April the Company's total issued share capital
consisted of 78,110,302 Ordinary Shares, with one voting right per share. The
Company holds 5,667,335 Ordinary Shares in treasury. Therefore, the total
number of voting rights in the Company was 72,442,947.

For further information, please contact:

For further information, please contact:

Helios Underwriting plc

John Chambers - Executive Chairman
       44 (0)203 965 6441

Arthur Manners - Chief Financial
Officer

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 £484m of capacity for the 2025 year of 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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