Acquisition

RNS Number : 4186X

Helios Underwriting Plc

28 August 2015

 

28 August 2015

Helios Underwriting plc

("HUW" or the "Company")

Completion of Acquisition of Lloyd's Limited Liability Vehicles

Further to the announcement on 3 August 2015, the Company is pleased to announce that the acquisitions of Nameco (No 76) Limited and Kempton Underwriting Limited have completed.

Application will be made for the 1,454,536 new ordinary shares in the Company issued as consideration for the acquisitions to be admitted to trading on AIM and this is expected to become effective on 7 September 2015.  Following the issue of the new shares: (i) Will Roseff will hold 2,623,505 ordinary shares in the Company, representing 25.0% of the Company's issued ordinary shares; and (ii) the Company will have 10,495,350 ordinary shares in issue with each share carrying the right to one vote.  There are no shares held in treasury.  The total number of voting rights in the Company is therefore 10,495,350 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.

For further information please contact:

HUW Nigel Hanbury - Chief Executive	[e-mail]
Smith & Williamson Corporate Finance David Jones	020 7131 4000
Westhouse Securities Robert Finlay	020 7601 6100

About HUW

HUW 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).  HUW's subsidiary underwriting vehicles trade within the Lloyd's insurance market as corporate members of Lloyd's writing £27 million of capacity for the 2015 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.

 

END

 

 

ACQPPMRTMBBTMPA