24 Oct 2019 07:00
Life Settlement Assets PLC
LEI: 2138003OL2VBXWG1BZ27
(the "Company" or "LSA")
Dividend Declaration
On 10 July 2019 the Company announced that it had received notification of various policy maturities with a face value of US$ 2,168,074 for the benefit of the D share class (LSAD) and US$ 1,982,432 for the benefit of the E share class (LSAE).
In light of these sizeable policy maturities (all of which have now been verified, valued and collected), the Board has today declared the following special dividends, to be paid out of the reserve created on the cancellation of the share premium account:
- for D Ordinary Shareholders, a special dividend of 28.43 cents per share totalling US$2.5 million
- for E Ordinary Shareholders, a special dividend of 95.75 cents per share totalling US$1.5 million
The above dividends will be paid on 22 November 2019 to all Shareholders on the share register on 1 November 2019.
EXPECTED TIMETABLE 2019
Special dividend record date 1 November
Special dividend payment date 22 November
Enquiries:
Acheron Capital Limited (Investment Manager)
Jean-Michel Paul
020 7258 5990
Shore Capital (Financial Adviser and Broker)
Robert Finlay
020 7601 6115
George Bayer / Kerry Higgins
Maitland Administration Services Limited
Company Secretary
Tel: 01245 209780
TB Cardew (Financial PR)
Shan Shan Willenbrock
020 7930 0777
Notes to Editors
LSA is a closed-ended investment company which manages portfolios of whole and fractional interests in life settlement policies issued by life insurance companies operating predominantly in the United States. The life settlement market enables individuals to sell their life insurance policies to investors at a higher cash value than they would otherwise receive from insurance companies (if they were cancelled or surrendered at the date of sale). The Company aims to manage 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. LSA was is listed on the Specialist Fund Segment of the Main Market of the London Stock Exchange.