Business
Proposed Tender Offer and Notice of GM
Helios Underwriting plc announced a proposed return of capital to shareholders via a tender offer of up to £7.3 million, offering 238 pence per Ordinary Share. This tender price represents a premium of approximately 16.7% to the middle market closing price on September 25, 2025. The Board intends to distribute up to £7,263,793 to Shareholders through this method, subject to shareholder approval at a General Meeting on October 24, 2025. The company is seeking authority to buy back up to 3,052,013 Ordinary Shares, representing approximately 3.9 per cent. of the Company's issued share capital. The tender offer will close at 11.00 a.m. on 28 October 2025. Disclaimer*
About this update from Helios Underwriting Plc
[{"type":"text","content":"\n\n \n29 September 2025\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\nTHIS ANNOUNCEMENT IS NOT A PROSPECTUS OR A PROSPECTUS EXEMPT DOCUMENT AND SHAREHOLDERS SHOULD NOT MAKE ANY DECISION IN RELATION TO THE TENDER OFFER EXCEPT ON THE BASIS OF THE INFORMATION TO BE CONTAINED IN THE CIRCULAR WHICH IS PROPOSED TO BE PUBLISHED IN DUE COURSE.\n \nHelios Underwriting plc\n(\"Helios\" or the \"Company\")\nProposed return of up to £7.3 million to Shareholders by way of a tender offer at 238p per Ordinary Share\nNotice of General Meeting\nHelios Underwriting plc, the only publicly traded company offering instant access to a diverse portfolio of syndicates at Lloyd's of London, announces its intention to return up to £7.3 million in cash at 238 pence per Ordinary Share (the \"Tender Price\") to Shareholders by way of a tender offer (the \"Tender Offer\").\nThe Tender Price is based on the latest NAV for the Company and represents a premium of approximately 16.7 per cent. to the middle market closing price of an Ordinary Share on 25 September 2025.\nFollowing strong results over recent years, and good underwriting conditions in the Lloyd's market, and as anticipated in our recent results announcement for 2024, the Board has decided to make a distribution of up to £7,263,793 to Shareholders by way of a tender offer based on the latest NAV per Ordinary Share.\nWe have used Q2 2025 NAV for the purposes of the Tender Offer as published in our Interim Report and Financial Statements for the six months ended 30 June 2025 on 29 September 2025\nAccordingly, the Board has resolved to make a distribution of up to £7,263,793 to Shareholders by way of the Tender Offer, subject to the passing of the Tender Offer Resolution.\nThe Board considers that the Tender Offer is the most suitable way of returning excess capital to Shareholders in a quick and efficient manner, taking into account the relative costs, complexity and timeframes of other possible methods, as well as the likely tax treatment for and equality of treatment of Shareholders.\nThe Circular, which is expected to be posted to shareholders and be available on the Company's website later today, sets out the terms of the Tender Offer and inco...