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On 9 June 2025, Helios Underwriting plc's Chief Operating Officer, Mr Adhiraj Maitra, exercised a vested nil cost option under the Long Term Incentive Plan over 70,000 ordinary shares. The settlement involved transferring 37,100 ordinary shares from the Company's treasury to Mr Maitra and a cash payment for the market value of 32,900 shares to cover tax liabilities. Following this transaction, Mr Maitra holds 37,100 ordinary shares, representing 0.0475% of the issued share capital, and the Company's total number of ordinary shares with voting rights is 72,480,047.
| Date | 9 Jun 2025 |
| Time | 13:15:00 |
| Category | Director/PDMR dealings |
| ID | 0425M |
Helios Underwriting plc
9 June 2025
Helios Underwriting plc
("Helios", the "Company" or the "Group")
PDMR Dealing - LTIP Exercise and Total Voting Rights Update
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 its Chief Operating Officer, Mr Adhiraj Maitra (person discharging managerial responsibilities) exercised a vested nil cost option held under the Helios Underwriting plc Long Term Incentive Plan over 70,000 ordinary shares of 10 pence each ("Ordinary Shares") in the Company.
The option (a buy-out recruitment related award) was granted on 27 September 2024 and became exercisable from 5 March 2025.
The exercise of the option is settled in part by the transfer of 37,100 Ordinary Shares issued from the Company's treasury account to Mr Maitra and in part with a cash payment equal to the market value of 32,900 Ordinary Shares to meet Mr Maitra's liability to income tax and employee national insurance arising on the exercise of the option.
Following the transaction, Mr Maitra has a beneficial holding of 37,100 Ordinary Shares which represents 0.0475% of the current issued share capital.
Following the transaction, the Company's issued ordinary share capital consists of 78,110,302 Ordinary Shares of which a total of 5,630,255 Ordinary Shares are held in treasury. Therefore, the total number of Ordinary Shares with voting rights in Helios Underwriting plc is 72,480,047.
The above figure of 72,480,047 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
The information set out below is provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulation and AIM Rule 17.
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
Name |
1. Adhiraj Maitra |
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2 |
Reason for Notification |
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a) |
Position/status |
1. Chief Operating Officer
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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 |
Exercise of option over Ordinary Shares under the Helios Underwriting plc Long Term Incentive Plan and related acquisition of Ordinary Shares of 10 pence each in Helios Underwriting plc (or, as to 47% of the vested shares, cash in lieu of such shares).
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c) |
Price(s) and volume(s)
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d) |
Aggregated information - Aggregated volume - Price |
Not applicable - single transaction 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