REG - Life Settlement - Portfolio Update

Life Settlement AssetsAnnouncement

25/06/2025 07:02

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RNS Number : 2659O  Life Settlement Assets PLC  25 June 2025

This announcement contains inside information

 

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

LEI: 2138003OL2VBXWG1BZ27

Portfolio Update

 

Update on review of policies held by third party agent, Vespera Servicing
LLC("Vespera")

 

 

At the Company's year-end results, which were announced on 29 April 2025, it
was stated that the Company would carry out a detailed review of all LSA's
Mutual Benefits Keep Policy Trust ("MBC") policies now held on the Company's
behalf by Vespera, LSA's third-party servicing agent. This followed the
announcement on 28 March 2025 when the Company reported the background to the
incorrect valuation of a life policy held for LSA's account.

 

The Board can report that the review process has now largely been completed
and our findings to date give us confidence that there are no other policies
that have been overvalued.

 

Further, from the extra visibility provided by the transfer and consolidation
of all our policies at Vespera, the Board has been advised that the valuation
of one particular group of policies should be increased by US$3 million which
equates to an uplift in NAV of approximately 3%.  This increase will be
reflected in our next NAV release, which is expected in the first week of July
2025.

 

Chairman Michael Baines, said:

 

 "At our year-end announcement, we reported the successful conclusion of the
long-running MBC process. We are delighted now to have direct control of our
MBC policies and have confidence that no other policies have been overvalued.
We place strong emphasis on having the right processes in place to ensure
accurate valuations, and this will remain a key focus going forward."

 

For further information, please contact:

 

Acheron Capital Limited (Investment Manager)

Jean-Michel Paul

020 7258 5990

 

 

Shore Capital (Financial Adviser and Broker)

Gillian Martin / Anita Ghanekar / Harry Davies-Ball

020 7408 4090

 

 

ISCA Administration Services Limited (the Company Secretary) on

01392 487056; or lsa@iscaadmin.co.uk

 

 

 

25 June 2025

 

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