The entire issued capital of limited liability vehicle (LLV) Exalt Underwriting Limited has been snapped up by Helios Underwriting Plc as part of the latter’s strategy of increasing underwriting capacity through acquisition.
Of the total consideration worth £409,550, Helios said £241,792 was satisfied by the issue of 141,399 ordinary shares. The rest was satisfied in cash.
Helios, which provides a limited liability direct investment into the Lloyd’s market, noted: “Application has been made for the new ordinary shares to be admitted to trading on AIM (Alternative Investment Market of the London Stock Exchange).
“Admission is expected to occur at 8am on December 23, 2021.”
In October, Helios completed several LLV acquisitions, including swoops for Nameco (No.389) Limited, New Filcom Limited, and Nomina No. 070 LLP.
