EEA Life Settlements Fund PCC Limited (the "Fund")
Further to the announcement made on 27 November 2013, the board of directors
of the Fund (the "Board") can confirm that the listing of the
Fund's shares will not be cancelled with effect from 7am on 24 December 2013.
The Channel Islands Securities Exchange Authority Limited (formerly the
Channel Islands Stock Exchange, LBG) ("CISE") has confirmed that
it will grant an extension to that deadline and will not cancel the listing of
the Fund's shares pending receipt by the Fund of the necessary regulatory
approvals from the Guernsey Financial Services Commission in relation to the
proposed restructuring of the Fund, and pending new listing applications being
received by the CISE in respect of the Continuing Shares and Run-Off Shares
and being fully considered for approval.
As was previously announced, each listing application will need to satisfy the
applicable conditions of listing and the application review will include
review of the latest financial statements. The draft Listing Document in
respect of the applications will incorporate the latest audited accounts of
the Fund for the 2012 financial year and the interim accounts to 30 June 2013.
It is proposed that new listing applications will be submitted on or around
the effective date of the restructuring. There can be no assurance that such
listing applications will be approved. Prior to the effective date of the
restructuring, and also whilst any application for listing is being processed,
the suspension of the listing of the existing listed shares in all listed
classes of the Fund (which will become the Continuing Shares upon the
restructuring being effective) will remain suspended. In the event that
application for listing of the Continuing Shares is not approved, the shares
will be cancelled from the Official Listing of CISE.
The Run-Off Shares will only be listed upon the listing application for such
shares being approved.
A further announcement will be made in due course.