Helios Towers PLC (HTWS), the Africa and Middle East-focused telecommunications tower operator, has received a corrected major holdings notification from MIRI Strategic Emerging Markets Fund LP, a Boston-based investment vehicle managed by Miri Capital Management LLC. The updated TR-1 filing, dated 15 January 2026 but published on 4 November 2026, corrects an administrative error in an earlier submission. The original notification was filed erroneously at the 3% threshold, and the correction clarifies that MIRI's position is below the minimum reportable threshold applicable to its regulatory classification. Investors in HTWS should note that this disclosure reflects a corrective administrative action rather than a new change in economic ownership.

Key Points

  • Helios Towers PLC (HTWS) — UK-listed telecommunications tower operator, ISIN GB00BJVQC708
  • MIRI Strategic Emerging Markets Fund LP filed a corrected TR-1 to withdraw a previously notified 3.01% voting rights position in HTWS
  • The holding of 31,435,595 shares equating to 3.01% of voting rights was reported as of 15 January 2026, but is now stated to be below the applicable reportable threshold
  • Investors should watch for any future TR-1 filings from MIRI or Miri Capital Management LLC that cross the 5% threshold, which is the applicable minimum under FCA DTR 5.1.5R for this entity type

Why MIRI Capital's 3.01% HTWS Position Falls Below the Reportable Threshold

The correction hinges on MIRI's regulatory classification as a US Registered Investment Adviser managing voting rights on behalf of clients under a written investment management agreement. Under FCA Disclosure and Transparency Rules 5.1.5R, voting rights managed by such entities on behalf of third parties are disregarded at standard thresholds and are only notifiable at 5%, 10%, and above. Because MIRI's managed holdings in Helios Towers remain below the 5% level, the original TR-1 filed at the 3% threshold was submitted in error, and this corrected notification amends the public record accordingly.

Helios Towers' Shareholder Register and the Significance of TR-1 Corrections

Helios Towers operates a portfolio of telecommunications tower infrastructure across Africa and the Middle East, providing co-location services to mobile network operators under long-term tenancy agreements. The company is incorporated in the United Kingdom and listed on the London Stock Exchange. Corrections to major holdings notifications are relatively uncommon and can affect market participants' understanding of the true ownership structure of a company. In this case, the amendment reduces the publicly reported level of MIRI's disclosed stake to below the minimum reportable threshold, meaning no formal voting rights position from this entity is now recorded on the HTWS register.

Miri Capital Management LLC's Role as Ultimate Controlling Entity

The announcement states that Miri Capital Management LLC, headquartered at 745 Boylston Street, Suite 301, Boston, Massachusetts, is the ultimate controlling entity through which MIRI Strategic Emerging Markets Fund LP holds its interest in Helios Towers. All 31,435,595 shares were held directly, with no indirect voting rights or financial instruments disclosed. The chain of control runs from Miri Capital Management LLC to MIRI Strategic Emerging Markets Fund LP, with a combined voting rights figure of 3.01% as at 15 January 2026, now corrected as being below the applicable notification threshold under DTR 5.1.5R.