Share buy-back programme

Life Settlement Assets PLC (the "Company" or "LSAA")

LEI: 2138003OL2VBXWG1BZ27

Share Buyback Programme

Life Settlements Assets PLC ("the Company") notes the discount at which the Company's share price trades as compared to its net asset value ("NAV") per Ordinary Share. Accordingly, the Board is today announcing the commencement of a Share Buyback Programme (the "Programme"). The Company has allocated certain funds to the Share Buyback Programme which will only be undertaken where the Board believe it to be in the shareholders' best interests at the prevailing share price and accretive to NAV per Ordinary Share. The Company will review this allocation on an ongoing basis considering inter alia the Company's ongoing liquidity position, the opportunity cost of paying off policy advances as well as the discount to NAV at which the shares trade.

The Company has appointed its broker, Shore Capital Stockbrokers Ltd ("Shore") to make market purchases of shares of the Company in accordance with certain pre-set parameters pursuant to the Programme. There is no certainty that any buybacks will be conducted or that the full Buyback allocation will be utilised.

The maximum number of shares acquired shall not, in aggregate, exceed 14.99% of the Company's issued share capital  under the general authority granted by the Company's shareholders at the annual general meeting on 14 June 2023.The continuation of the Programme beyond the conclusion of the Company's next Annual General Meeting to be held on 18 June 2024 will be subject to the Company obtaining fresh general authority from its shareholders at such Annual General Meeting.

Any market purchase of shares pursuant to the Programme on any dealing day could represent a significant proportion of the daily trading volume in the shares on the main market of the London Stock Exchange and could exceed 25 per cent. of the average daily trading volume.

It is intended that Shares repurchased under the Programme shall be cancelled.

Any market purchase of Ordinary Shares pursuant to the Programme will be announced no later than 7.30am on the business day following the day on which the purchase occurred.

The investment vehicle (Tomson Pte Ltd) wholly owned by Jean-Michel Paul, the founder of Acheron Capital Limited, which provides the Company with investment management services holds 5,154,152 Shares (10.34%) of the issued share capital of the Company has indicated to the Company that it may sell up to a maximum of 1 million shares in the Programme.  

The Company will continue to review all available options to return capital to shareholders in the most optimal way, including special dividends.

For further information contact

Michael Baines (Chair) 

c/o ISCA Administration Services Limited

01392 487056

Shore Capital (Financial Adviser and Broker)

Gillian Martin / Anita Ghanekar / Harry Davies-Ball

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.