22 Dec 2020 07:00
LIFE SETTLEMENT ASSETS PLC
(the "Company" or "LSA")
LEI: 2138003OL2VBXWG1BZ27
Life Settlement Assets announces new Board structure
The Board of LSA, the listed closed-ended investment company, announces the new structure of its Board as previously indicated in the Company's half year report to 30 June 2020.
Yves Mertz and Robert Edelstein will step down as Directors from the Board with effect from 31 December 2020. Both will continue to advise the Board in their capacity as representatives of two of our key service providers.
LSA previously announced the departure of Franck Mathe, who retired as a Director of the Company on 30 September 2020 after serving on the Board (and the predecessor company) for many years.
Accordingly, the Board will now consist of Michael Baines (Chairman), Guner Turkmen and Christopher Casey, all of whom are non-executive and independent of both the investment manager, Acheron Capital Limited and of LSA's service providers.
The Board does not intend to recruit additional Board members at present.
Michael Baines, Chairman of the Board, commented:
"We are grateful for the long-standing support that Yves and Robert have given to LSA and its predecessor company and we are pleased that they will continue to advise the business and the Board.
This further normalisation of our governance structure is more appropriate for the size of our company, maintains support from our service providers and, is in line with our strategic direction."
22 December 2020
For further information contact
Acheron Capital Limited (Investment Manager)Jean-Michel Paul020 7258 5990
Shore Capital (Financial Adviser and Broker)Robert Finlay020 7408 4090
ISCA Administration Services LimitedCompany SecretaryTel: 01392 487056
Notes to Editors
Life Settlement Assets PLC is a closed-ended investment trust company which invests in, and manages, portfolios of whole and fractional interests in life settlement policies issued by life insurance companies operating predominantly in the United States. The Company seeks to generate long-term returns for investors by investing in the life settlement market, through each of the separate Share Classes. The Company aims to manage its investment in portfolios of life settlement products so that the realised value of the policy maturities exceeds the aggregate cost of acquiring the policies, ongoing premiums, management fees and other operational costs.