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
Identification code
|
Ordinary Shares of 10 pence
each
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
- 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