Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has acquired a 2% shareholding in a holding company of a group of Limited Liability Vehicles (LLV).
The company announced in August its intention to bulk up its capacity using high quality syndicates at the historic insurance and reinsurance marketplace.
As a result, it decided to acquire existing limited liability vehicles (LLVs) by taking up the pre-emption capacity offered from its supported syndicates
In regards to this latest transaction, the total consideration is £280,800 of which 50% has been satisfied by the issue of 85,872 Ordinary Shares.
Application has been made for the New Ordinary Shares to be admitted to trading on AIM. Admission is expected to take place on 22 November 2021.
The Company’s issued share capital following admission will comprise 68,744,813 Ordinary Shares with voting rights and no restrictions on transfer (excluding the 419,169 Ordinary Shares held in treasury and which do not carry voting rights).
