Helios Underwriting Plc Grant of LTIP Award (2514B)

TIDMHUW

RNS Number : 2514B

Helios Underwriting Plc

01 June 2023

RNS Number:

Helios Underwriting plc

1 June 2023

Helios Underwriting plc

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

Notification and public disclosure of transactions by PDMRS

Grant of LTIP Awards

Helios, the investment vehicle which builds shareholder value through exposure to Lloyd's is pleased to announce that on 31 May 2023 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 
                   Executive Deputy 
 Nigel Hanbury      Chairman                    263,157 
                  ------------------  --------------------------- 
                   Chief Financial 
 Arthur Manners     Officer                     228,070 
                  ------------------  --------------------------- 
 

The awards were granted as nil cost options and will ordinarily vest on the third anniversary of their grant, subject to the grantee's continued service and the extent to which the award's performance conditions are satisfied.

The award's performance conditions set threshold to stretch targets in respect of Company's TSR over the three year period following the grant of the awards. No portion of the awards shall performance vest unless the Company's TSR over the performance period reaches the threshold target, for which one quarter of the awards would performance vest, rising on a straight line basis to full performance vesting of the awards for the Company's TSR over the performance period being equal to the stretch target or better.

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.

 
      Details of the person discharging managerial responsibilities 
  1    / person closely associated 
 a)   Name                             1. Nigel Hanbury 
                                        2. Arthur Manners 
     -------------------------------  ---------------------------------------- 
      Reason for Notification 
  2 
     ------------------------------------------------------------------------- 
 a)   Position/status                     1. Executive Deputy Chairman 
                                           2. Chief Financial Officer 
     -------------------------------  ---------------------------------------- 
 b)   Initial notification/Amendment   Initial Announcement 
     -------------------------------  ---------------------------------------- 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                             Helios Underwriting plc 
     -------------------------------  ---------------------------------------- 
 b)   LEI                              213800FX86DJW5TCM864 
     -------------------------------  ---------------------------------------- 
      Details of the transaction(s): section to be repeated 
  4    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               Ordinary Shares of 10 pence each 
       financial instrument,            ISIN - GB00B23XLS45 
       type of instrument 
       Identification code 
     -------------------------------  ---------------------------------------- 
 b)   Nature of the transaction        Grant of options over ordinary shares 
                                        under the Helios Underwriting plc Long 
                                        Term Incentive Plan with an option 
                                        price nil pence per share. 
     -------------------------------  ---------------------------------------- 
 c)   Price(s) and volume(s)            Price(s)   Volume(s) 
                                         1. Nil                1. 263,157 
                                          2. Nil                2. 228,070 
                                                   ----------------------- 
     -------------------------------  ---------------------------------------- 
 d)        Aggregated information 
             *    Aggregated volume      Not applicable - single transactions 
 
 
             *    Price 
     -------------------------------  ---------------------------------------- 
 e)   Date of the transaction          31 May 2023 
     -------------------------------  ---------------------------------------- 
 f)   Place of the transaction         Outside of a trading venue 
     -------------------------------  ---------------------------------------- 
 

For further information, please contact:

Helios Underwriting plc

   Martin Reith - CEO                                            [phone] 
   Nigel Hanbury - Executive Deputy Chairman          [phone] 
   Arthur Manners - Chief Financial Officer              [phone] 

Numis (Nomad and Broker)

   Giles Rolls / Charles Farquhar                            [phone] 

Buchanan (PR)

   Helen Tarbet / George Beale                              [phone] 

[phone]

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 GBP297m 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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June 01, 2023 02:00 ET (06:00 GMT)