Helix - Additional response to Offshore Alert allegations

Hamilton, Bermuda – November 16, 2016 – In a filing with the Bermuda Stock Exchange (“BSX”) Helix provided an additional response to Offshore Alert allegations. The full filing stated:

Helix Investment Management SLP (“Helix”) confirms that it has received confirmation from Privilege Wealth PLC that it has duly commenced action against Mr David Marchant and it’s solicitors have attended to the issuance in the High Court of Justice, Queens’ Bench Division, Royal Courts of Justice its claim for (i) damages for libel published by the defendant, Mr David Marchant, on the website “offshore alert” and (ii) an injunction to restrain Mr Marchant, or his servants or agents, from publishing or causing to be published words with the same or similar defamatory meaning.

Solicitors Lewis Silkin LLP, acting on behalf of Privilege Wealth PLC, have confirmed that the Claim was duly issued and served on Mr Marchant by hand on 15 November 2016.

Helix have requested and received a copy of the Particulars of Claim of the Claimant and can confirm that the content thereof is consistent with and supports the detailed rebuttal it received from Privilege Wealth PLC on or about 25 October 2016.

Helix continues to pro-actively monitor its own position very closely and to this end will follow up on the site visit it conducted immediately after the article was released at the end of October with one or more directors of Helix conducting a further site visit to the customer service centre of Privilege Wealth in the week commencing 28 November.   Privilege Wealth PLC, its Directors and management have continued to be transparent and provide all necessary supporting documentation to demonstrate that they are doing everything feasibly possible to rectify this matter as quickly as possible.   Furthermore Privilege Wealth PLC has continued to fully service its loan obligations to Helix in the ordinary course and the directors of Helix remain confident that it will continue to do so.