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- Life Settlement Assets’ board mulling options to reduce the discount
Life Settlement Assets (LSAA) has announced its results for the year ended 31 December 2022. LSAA’s Board says that, now the MBC litigation is complete, it is actively considering further options to reduce this discount, which will be communicated to Shareholders in due course. Key highlights from the results are as follows:
“The successful conclusion of your Company’s long running litigation against MBC marks a significant development in our strategy of unlocking value for Shareholders. It removes an important area of risk, builds value, and unlocks alternatives for the deployment of funds arising on the maturity of policies. It also means that the Board’s attention can focus solely on the broader risk issues in the portfolio, including that of HIV mortality.
“The Board is acutely aware of the impact that last year’s cash retention policy has had on the level of discount at which LSA’s shares trade. Therefore, in addition to the announcement of a special dividend and a return to the previous approach to dividend payments generally, the Board is actively considering further options to reduce this discount, which will be communicated to Shareholders at the appropriate time.
“Given that the non-HIV portfolio is now expected to mature faster than the HIV portfolio, we will continue to closely monitor research on mortality in general to guide future decisions. The past track record of assessing risk across the portfolio gives the Board confidence that outcomes should be achieved which will continue to underpin the value proposition for Shareholders.”