Dividend Declaration

RNS Number : 9284Q

Life Settlement Assets PLC

24 October 2019

 

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: [phone] 

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.

 

END

 

 

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