Company Announcements

Grant of LTIP Awards

Source: RNS
RNS Number : 1070G
Helios Underwriting Plc
30 September 2024
 


 

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

 

 

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