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On 9 June 2025, Helios Underwriting plc granted nil cost options over ordinary shares under its Long Term Incentive Plan to three Persons Discharging Managerial Responsibilities. Adhiraj Maitra received awards over 105,485 shares, Jen Tan over 42,194 shares, and David Shawe over 31,645 shares. These awards will ordinarily vest on the third anniversary of the grant, subject to continued service and performance conditions linked to the company's total shareholder return.
| Date | 9 Jun 2025 |
| Time | 13:15:00 |
| Category | Director/PDMR dealings |
| ID | 0431M |
Helios Underwriting plc
9 June 2025
Helios Underwriting plc
("Helios", the "Company" or the "Group")
Notification and public disclosure of transactions by PDMRS
Grant of LTIP Awards
Helios, the only publicly traded company offering instant access to a diverse portfolio of syndicates at Lloyd's of London, announces that on 9 June 2025 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 |
|
Adhiraj Maitra |
Chief Operating Officer |
105,485 |
|
Jen Tan |
Head of Portfolio Strategy |
42,194 |
|
David Shawe |
ACMA Financial Controller |
31,645 |
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.
As announced on 29 May 2025 Mr Maitra will take on the new role of Director of Finance and Operations, following the planned retirement of Arthur Manners after the AGM later this month.
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 |
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|
a) |
Name |
1. Adhiraj Maitra 2. Jen Tan 3. David Shawe
|
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|
2 |
Reason for Notification |
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|
a) |
Position/status |
1. Chief Operating Officer 2. Head of Portfolio Strategy 3. ACMA Financial Controller
|
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|
b) |
Initial notification/Amendment |
Initial Announcement |
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|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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|
a) |
Name |
Helios Underwriting plc |
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|
b) |
LEI |
213800FX86DJW5TCM864
|
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|
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 |
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|
a) |
Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 10 pence each ISIN - GB00B23XLS45 |
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|
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.
|
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|
c) |
Price(s) and volume(s)
|
|
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|
d) |
Aggregated information - Aggregated volume - Price |
Not applicable - single transactions Nil |
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|
e) |
Date of the transaction |
9 June 2025 |
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|
f) |
Place of the transaction |
Outside of a trading venue |
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For further information please contact:
Helios Underwriting plc
John Chambers - Interim 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 +44 (0)7703 330 199
Nathan Hambrook-Skinner +44 (0)7977 817 092
Christian Harte +44 (0)7974 288 763
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. The portfolio provides a broad spread of business primarily participating in the US and other international wholesale and reinsurance markets. For further information please visit www.huwplc.com