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 14 June 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(s) discharging
managerial responsibilities:
|
Participant
|
Position
|
No. of Shares under Award
|
|
Nigel Hanbury
|
Non-Executive Deputy
Chairman
|
261,049
|
|
Arthur Manners
|
Finance Director
|
259,668
|
The awards were granted as nil cost
options and will ordinarily vest on the third anniversary of grant,
subject to the grantee's continued service and the extent to which
the award's performance conditions are satisfied.
As summarised in the table
immediately below; the award's performance conditions set threshold
to stretch targets in respect of Company's total shareholder return
("TSR") over the three year period following the grant of the
award. No portion of the awards shall performance vest unless the
Company's TSR over the performance period reaches the threshold
target, for which 25% of the award would performance vest, rising
on a straight line basis to full performance vesting of the award
for the Company's TSR over the performance period being equal to
the stretch target or better.
|
The
Company's TSR over the 3 year performance period
|
%
of award that vests
|
|
Less than 30%
|
Nil
|
|
30%
|
25%
|
|
60% or more
|
100%
|
|
Between 30% and 60%
|
Between 25% and 100% on a
straight-line basis
|
The awards are also subject to an
underpin condition and subject to a post vesting holding period
(net of tax) that expires on the fifth anniversary of the grant of
the awards.
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. Nigel Hanbury
2. Arthur Manners
|
|
2
|
Reason for Notification
|
|
a)
|
Position/status
|
1. Non-Executive Deputy
Chairman
2. Finance Director
|
|
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
|
261,049
|
|
2. Nil
|
259,668
|
|
|
d)
|
Aggregated information
- Aggregated
volume
- Price
|
Not applicable - single
transactions
|
|
e)
|
Date of the transaction
|
14 June 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading
venue
|
For further information, please
contact:
Helios Underwriting plc
Michael Wade - Executive
Chairman
Michael.Wade@huwplc.com
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 / Tom O'Brien
+44 (0)7703 330 199 / +44 (0)7929
021 492
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
£507m 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.