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Helios Underwriting successfully raises £53.5 million

March 2021

Helios, the unique investment vehicle which acquires and consolidates underwriting capacity at Lloyd’s, has successfully raised gross proceeds of approximately £53.5 million through a placing of, and a subscription for, an aggregate of 33,412,625 New Ordinary Shares at a price of £1.60 per share.

A total of 6,037,625 New Ordinary Shares have been placed at the Issue Price with existing and new investors pursuant to the Placing, thereby raising approximately £9.7 million, subject to Shareholder approval.

In addition, a total of 27,375,000 New Ordinary Shares have been subscribed for under the Subscription at the Issue Price, thereby raising £43.8 million, subject to Shareholder approval.

The Company proposes to raise up to a further approximately £3.0 million by way of a conditional open offer of 1,861,787 Open Offer Shares to Qualifying Shareholders at the Issue Price.

The Placing was conducted by way of an accelerated book build process and the Perivan shareholder communications team were delighted to work with Shore Capital who acted as sole broker on the Placing on the production of the documentation requiring shareholder approval which was successfully published and posted on 9th March 2021.

Perivan specialise in the production and publication of financial documents relating to shareholder and investor communications for quoted companies, private companies and open and closed-ended funds.

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