In line with its strategy of increasing underwriting capacity through acquisition, Helios Underwriting has acquired the entire issued capital of Chorlton Underwriting Limited for a total consideration of £1,996,830.
Of this total, £200,000 has been satisfied by the issue of 123,457 ordinary shares of £0.10 each in the Company (New Ordinary Shares) at £1.62 per share with the remainder satisfied in cash.
According to Helios, an application has been made for the New Ordinary Shares to be admitted to trading on AIM.
Admission is expected to occur on the 18th of July, 2023.
Helios explains that the New Ordinary Shares will rank pari passu with its existing issued ordinary shares (Ordinary Shares).
The Company’s issued share capital following Admission will comprise 77,526,664 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).
This figure 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.
