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LONDON - Helios Underwriting plc plans to return up to £7.3 million to shareholders through a tender offer at 238 pence per ordinary share, according to a press release issued Monday.
The tender price represents a premium of approximately 16.7 percent to the middle market closing price of Helios shares on September 25, 2025, and is based on the company’s latest net asset value.
The Lloyd’s of London underwriting vehicle said the capital return follows "strong results over recent years and good underwriting conditions in the Lloyd’s market," as anticipated in its 2024 results announcement.
Helios used its Q2 2025 net asset value for calculating the tender offer price, as published in its interim financial statements released Monday.
The company’s board determined that a tender offer was "the most suitable way of returning excess capital to shareholders in a quick and efficient manner," considering costs, complexity, timeframes, tax treatment and equality of treatment for shareholders.
The proposal requires shareholder approval at a general meeting scheduled for October 24, 2025, at the company’s London offices. Shareholders will also vote on an increase to the cap on directors’ fees.
Shareholders who hold shares in certificated form will receive a tender form with the circular, while those holding shares electronically through CREST must make their tender electronically.
Helios Underwriting describes itself as the only publicly traded company offering instant access to a diverse portfolio of syndicates at Lloyd’s of London.
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