Admission to the Specialist Fund Segment

RNS Number : 8278I

Life Settlement Assets PLC

26 March 2018

 

Life Settlement Assets PLC

LEI: 2138003OL2VBXWG1BZ27

(the "Company" or "LSA") 

Admission to the Specialist Fund Segment

The directors of LSA are pleased to announce that the Company's entire issued share capital comprising 45,446,946 A Ordinary Shares of $0.01 each, 14,596,098 B Ordinary Shares of $0.01 each, 9,292,561 D Ordinary Shares of $0.01 each and 1,733,269 E Ordinary Shares of $0.01 each has been admitted to the Specialist Fund Segment of the London Stock Exchange ("Admission") at 8.00 a.m. today. Each Share carries the same voting rights (save in respect of matters relating solely to a specific Share Class), therefore the total number of voting rights in the Company is 71,068,874. Trading in the Predecessor Company's shares on the Luxembourg Stock Exchange was cancelled on 6 March 2018.

Shareholders should note that the obligations for shareholders to notify the Company of their shareholding apply at a lower threshold than was the case in Luxembourg.  Under Chapter 5 of the Disclosure Guidance and Transparency Rules (the "DTRs"), subject to certain limited expectations, a person must notify the Company (and, at the same time, the FCA) of the percentage of voting rights he holds (within two trading days) if he acquires or disposes of Shares in the Company to which voting rights are attached and if, as a result of the acquisition or disposal, the percentage of voting rights which he holds as a Shareholder (or, in certain cases, which he holds indirectly) or through his direct or indirect holding of certain types of financial instruments (or a combination of such holdings):

(a)  reaches, exceeds or falls below 3, 4, 5, 6, 7, 8, 9 or 10 per cent. and each 1 per cent threshold thereafter up to 100 per cent; or

(b)  reaches, exceeds or falls below an applicable threshold in (a) above as a result of events changing the breakdown of voting rights and on the basis of the total voting rights notified to the market by the Company.

Such notification must be made using the prescribed form TR1 available from the FCA's website at http://www.fca.gov.uk. Under the DTRs, the Company must announce the notification to the public as soon as possible and in any event by not later than the end of the trading day following receipt of a notification in relation to voting rights."

The Company is a newly established closed-ended investment company whose principal activities are to support and manage portfolios of whole and partial interests in life settlement policies issued by life insurance companies operating predominantly in the United States. The Company's investment objective is to generate long-term returns for investors by investing in the life settlement market.

Acheron Capital Limited ("Acheron") is responsible for devising and modelling the investment strategy of the Company's trusts. Founded in 2006 by Dr. Jean-Michel Paul, Acheron is a London based independent investment manager authorised and regulated by the Financial Conduct Authority that focuses on niche investment strategies uncorrelated to the traditional financial markets.

The Company believes that its admission to the Specialist Fund Segment provides it with the ideal platform to enhance the reputation, marketability, liquidity, and valuation of the Company's shares by gaining access to a wider investor audience.

The prospectus published by the Company on 30 January 2018 and the supplementary prospectus published by the Company on 23 March 2018 in connection with the Admission can be found on the Company's website www.lsaplc.com, and at the National Storage Mechanism at http://www.morningstar.co.uk/uk/NSM.

Save for expressions defined in this announcement, words and expressions defined in the Prospectus shall have the same meaning in this announcement.

For further information contact

Acheron Capital Limited (Investment Manager)

Jean-Michel Paul

020 7258 5990

Stockdale Securities Limited (Financial Adviser and Broker)

Robert Finlay / Owen Matthews

020 7601 6115

TB Cardew (Financial PR)

Shan Shan Willenbrock

020 7930 0777

 

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