Helios Underwriting plc (AIM:HUW) commences share repurchases on August 16, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 29, 2023. As per the mandate, the company is authorized to repurchase 7,731,820 shares, representing 10% of its issued share capital. The maximum price which may be paid for an ordinary share is an amount equal to 105% of the average market value of an Ordinary Share in the Company for the five business days prior to the day the purchase is made and an amount equal to the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out at the relevant time. The minimum price which may be paid for an ordinary share is £0.10 (being the nominal value). The authority shall expire at the conclusion of the next Annual General Meeting of the company or on June 30, 2024. As of May 26, 2023, the company had 77,318,203 ordinary shares in issue and had 419,169 shares held in treasury.

On August 15, 2023, the company announces a share repurchase program. Under the program, the company will repurchase up to £0.25 million worth of its shares. The program will be funded from existing cash resources. The purchased shares will be held by the company in treasury at the company's discretion for later reissue or cancellation. The maximum price paid per share will be no more than the net tangible asset value of the company.

On August 23, 2023, the company an increase in the plan from £0.25 million to £1 million worth of shares. The Enlarged Program will be financed through existing cash resources. The Enlarged Program will commence on the date of this announcement and will continue until the earlier of either the expiration of the General Authority or until the maximum pecuniary amount has been purchased under the Enlarged Program.