20 Jun 2019 14:56
For immediate release
Life Settlement Assets PLC
LEI: 2138003OL2VBXWG1BZ27
(the "Company" or "LSA")
Share Premium Account Cancellation and Dividend Declaration
The Company is pleased to announce that, following on from its announcements on 14 May 2019 and 4 June 2019 regarding the return of capital to A, D and E Ordinary Shareholders, Court confirmation of the Share Premium Account Cancellation was received on 18 June 2019 and, on the same day, was registered at Companies House.
Furthermore, the Company has today declared the following special dividends, to be paid out of the reserve created on the cancellation of the share premium account:
- for A Ordinary Shareholders, a special dividend of 5.50 US cents per share
- for D Ordinary Shareholders, a special dividend of 37.66 US cents per share
- for E Ordinary Shareholders, a special dividend of 259.62 US cents per share
The above dividends will be paid on 19 July 2019 to all Shareholders on the share register on 28 June 2019.
Defined terms used in this announcement have the meanings given in the Company's Circular dated 4 June 2019 unless the context otherwise requires.
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.