LSAA Life Settlement Assets Plc

TIDMLSAA

RNS Number : 3760X

Life Settlement Assets PLC

20 December 2023

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Life Settlement Assets PLC

LEI: 2138003OL2VBXWG1BZ27

(the "Company" or "LSA")

Policy Maturities and update on MBC settlement

On 18 December 2023 Life Settlement Assets received notification of a maturity across three policies held by the Company with a face value of US$ 9 million. The accounting for these maturities is in the process of being calculated and, if verified, would add approximately US$6.3 million to the Company's assets equating to approximately 5.8% of the NAV before costs.

The Company previously announced in its Annual Report published on 27 April 2023 the acquisition of policies from the Mutual Benefits Keep Policy ("MBC") Trust. The purchase was approved by a federal judge in March 2023 and the Company paid the gross consideration of $24 million. Part of the agreement was that the Company would receive the relevant net proceeds, less costs, of its previous fractional interests in the MBC held policies. Progress is being made towards the dissolution of the MBC Trust and the receipt of the net proceeds by the Company, in line with expectations, is expected in the first quarter of 2024.

In light of the above, and in line with its stated intentions, the Board will consider the payment of a special dividend following the verification of the proceeds. A further announcement will be made in due course.

For further information contact

Acheron Capital Limited (Investment Manager)

Jean-Michel Paul

020 7258 5990

Shore Capital (Financial Adviser and Broker)

Robert Finlay/Rose Ramsden/Angus Murphy

020 7408 4090

ISCA Administration Services Limited

Company Secretary

Tel: 01392 487056

Notes to Editors

Life Settlement Assets PLC is a closed-ended investment trust company which invests in, and manages, portfolios of whole and fractional interests in life settlement policies issued by life insurance companies operating predominantly in the United States. The Company seeks to generate long-term returns for investors by investing in the life settlement market, through each of the separate Share Classes. The Company aims to manage its investment in 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.

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December 20, 2023 02:00 ET (07:00 GMT)

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