LifeStar Holding plc - Basis of Acceptance

On 3 June 2021, LifeStar Holding plc announced the basis of acceptance in relation to the Initial Public Offering (‘IPO’) and Exchange Offer of its life insurance subsidiary LifeStar Insurance plc (‘LSI’), and also for the new 4% unsecured subordinated bonds issued by LSI.

With regards to the IPO, LSI received applications for 10,854,000 shares (58.6% of the shares offered), representing a total value of €5,861,160.

In relation to the Exchange Offer, LSI received applications for 5,897,951 (89.8% of the shares offered for exchange), representing a total value of €3,184,894.

As a result, all applications were met in full and the overall total of 16,751,951 shares of LSI are expected to be admitted to the Official List of the Malta Stock Exchange by 10 June 2021 and trading may commence on 11 June 2021.

Applications for the 4% unsecured subordinated bond issue of LSI totalled a nominal value of €2,431,300 and all applications were met in full. The bonds are expected to be admitted to the Official List of the Malta Stock Exchange by 10 June 2021 and trading may commence on 11 June 2021.

The announcement also confirmed that LifeStar Holding commenced the process for the repayment in full of the €10 million 5% unsecured bonds which matured on 2 June. The repayment is expected to be finalised by 9 June 2021 in accordance with the terms and conditions of the 2016 bond prospectus.

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