Life Settlement Assets PLC Capital Reorganisation (8651L)
04 Maggio 2020 - 5:18PM
UK Regulatory
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RNS Number : 8651L
Life Settlement Assets PLC
04 May 2020
Life Settlement Assets PLC
LEI: 2138003OL2VBXWG1BZ27
(the "Company" or "LSA")
Merger calculation and dividend declaration
The Company announces that, pursuant to the terms set out in the
Circular published by the Company on 2 April 2020 (the "Circular"),
the number of new A Ordinary Shares of US$0.01 to be admitted
following the re-designation of D and E Ordinary Shares is a total
of 3,832,668.
Of the total, 2,700,812 result from the re-designation of D
Ordinary Shares and 1,131,856 from the re-designation of E Ordinary
Shares. The remaining 6,526,496 D and E Ordinary Shares not
re-designated as A Ordinary Shares will be re-designated as
Deferred Shares.
Application has been made to the London Stock Exchange for the
admission of the new A Ordinary Shares to commence dealing at 8:00
a.m. tomorrow, 5 May 2020, on the Specialist Fund Segment of the
Main Market. The shares will rank pari passu with the existing A
Ordinary Shares.
Application has also been made to the London Stock Exchange to
de-list and cancel the D and E Ordinary Share Classes, expected to
become effective at 8:00 a.m. tomorrow.
The Deferred Shares do not form part of the Company's capital
and therefore are not listed. The Company will repurchase and
cancel all Deferred Shares as soon as practicable.
Expected timetable
2020
CREST accounts credited for revised 5 May
holdings of new A Ordinary Shares
-----------------------
Expected despatch of share certificates Week commencing 11 May
for holdings of new A Ordinary Shares
-----------------------
Dividend declaration
Pursuant to the terms of the Circular, the Company declares
special dividends payable to D and E Ordinary Shareholders on the
register immediately prior to the date of the Merger as
follows:
- for D Ordinary Shareholders, a special dividend of 4.94932
cents per share totalling US$435,173
- for E Ordinary Shareholders, a special dividend of 35.99451
cents per share totalling US$563,891
The record date of the share register that will be used to
determine who is eligible for a dividend is 30 April 2020. The
above dividends will be paid on 30 June 2020.
Total voting rights
The Company announces that following admission its issued share
capital will consist of 43,724,059 A Ordinary Shares of $0.01 each
and 14,596,098 B Ordinary Shares of $0.01 each. The Company holds
no shares in Treasury.
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 58,320,157. This
figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency
Rules.
All capitalised terms in this announcement have the meaning
given to them in the Circular, unless otherwise defined herein.
Enquiries:
Life Settlement Assets plc
Michael Baines (Chairman)
020 7258 5990
Acheron Capital Limited (Investment Manager)
Jean-Michel Paul
020 7258 5990
Shore Capital (Financial Adviser and Broker)
Robert Finlay
020 7601 6115
ISCA Administration Services Limited
Company Secretary
01392 487056
This information is provided by RNS, the news service of the
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
May 04, 2020 11:18 ET (15:18 GMT)
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