Helios Underwriting Plc (AIM:HUW) entered into a conditional agreement to acquire Nameco 544 Limited from Peter Hildred Buxton for £1.6 million on October 30, 2020. Consideration will be paid by issue of 0.336225 million new ordinary shares at an issue price of £1.20 per share and cash. In a related transactions, Helios Underwriting Plc entered into conditional agreements to acquire NJH from Nigel Hanbury for £4.9 million and Nameco 510 from Arthur Manners and members of his family for £0.7 million and Helios UTG Partner Limited entered into a conditional agreement to acquire L084 from Nigel Hanbury and members of his family for £2.2 million on October 30, 2020.

Nameco 544 reported a net profit of £0.103343 million for the financial year ended on April 5, 2020. Transaction is subject to Lloyd's approval of the change of control and admission of consideration shares by no later than 8.00 a.m. on November 27, 2020 (or such later time and/or date as parties may agree, not being later than December 16, 2020). If the conditions are not satisfied or waived by no later than December 16, 2020, the transaction will automatically terminate and cease to have any further force and effect, save in respect of any antecedent breaches.

Subject to the satisfaction of the conditions, completion is expected to occur and the consideration shares are expected to be issued at admission. Quentin Perrot and Alastair Rodger of WILLIS TOWERS WATSON SECURITIES EUROPE LIMITED acted as financial advisors to Helios Underwriting Plc.