Substitution of the issuer of PA Tier 2 Notes

RNS Number : 9829T

Just Retirement Group PLC

04 April 2016

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

4 April 2016

Partnership Assurance Group plc ("Partnership Assurance")

Just Retirement Group plc ("Just Retirement")

Substitution of the issuer of the Partnership Assurance Tier 2 Notes

Partnership Assurance and Just Retirement hereby notify the holders of the £100,000,000 9.5 per cent. Fixed Rate Guaranteed Subordinated Notes due 2025 (ISIN: XS1207688919) (the "Notes") originally issued by Partnership Assurance pursuant to a trust deed dated 24 March 2015 (the "Trust Deed") that Partnership Assurance has been replaced and substituted as principal obligor under the Notes and the Trust Deed by Partnership Life Assurance Company Limited, a wholly owned subsidiary of Partnership Assurance, with effect from 8.00 a.m. (BST) today, subject to and in accordance with the substitution provisions of Condition 15 of the Notes and Clause 8.3 of the Trust Deed.

Enquiries:

Partnership Assurance

Investors:	Media:
Katherine Jones Director of Investor Relations [phone]	Jim Boyd Director of Corporate Affairs [phone]	Citigate Dewe Rogerson Grant Ringshaw [phone] Shabnam Bashir [phone]

Just Retirement

Investors:	Media:
James Pearce Group Director of Strategy & Investor Relations [phone]	Stephen Lowe Group Communications Director [phone]	Temple Bar Advisory Alex Child Villiers [phone] William Barker [phone]

Important notices

This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction.

This announcement has been prepared in accordance with English law, and information disclosed may not be the same as that which would have been prepared in accordance with laws outside of the United Kingdom. The release, publication or distribution of this communication in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this communication is released, published or distributed should inform themselves about and observe such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

Publication of this announcement

A copy of this announcement will be available free of charge, subject to certain restrictions relating to persons resident in restricted jurisdictions, on Partnership Assurance's website at www.partnership-group.com and on Just Retirement's website at www.justretirementgroup.com, by no later than 12 noon (London time) on the business day following the date of this announcement. The content of the websites referred to in this announcement is not incorporated into and does not form part of this announcement.

 

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