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LifeStar Holding Plc Capital/Financing Update 2021
2057_rns_2021-05-03_401ebf95-2fe0-4683-8bda-f48a0728962b.pdf
Capital/Financing Update
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COMPANY ANNOUNCEMENT
The following is a Company Announcement issued by LifeStar Holding plc ("the Company") pursuant to the Listing Rules issued by the Listing Authority.
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Information to the Market
The Company refers to its announcement of the 22 April 2021, through which the market was informed that its subsidiary company, LifeStar Insurance (C-29806) ("LifeStar Insurance") intends to proceed with a public offer of subordinated bonds and that an application for the admissibility of the subordinated bonds to listing has been submitted by LifeStar Insurance to the MFSA for approval.
All the relevant information about the issue of subordinated bonds by LifeStar Insurance will be included in the subordinated bond prospectus (the "Subordinated Bond Prospectus"). In anticipation of the approval of the Subordinated Bond Prospectus, the Company informs the market that:
Unsecured Subordinated Bond Issue
LifeStar Insurance plans to issue €10,000,000 4% Unsecured Subordinated Bonds Due 2026 – 2031 with a nominal value of €100 per Bond (subject to an Over-allotment Option of €3,000,000 in the event of over-subscription) (the "Subordinated Bonds").
Bond Exchange
LifeStar Insurance intends to offer holders of the Company's €10,000,000 5.00% unsecured bonds maturing 2nd June 2021 issued pursuant to a prospectus dated 12th May 2016 (ISIN: MT0000171216) ("Company Bonds"), the option to settle all or part of the amount due on their application for the Subordinated Bonds by transferring to LifeStar Insurance their holding in the Company Bonds ("the Bond Exchange"). Holders of Company Bonds electing to subscribe for LifeStar Insurance Subordinated Bonds through the Bond Exchange shall be allocated Subordinated Bonds for the corresponding nominal value of Company Bonds transferred to Life Star Insurance (including cash top-up, where applicable).
Cut-Off Date
The Bond Exchange is available to the holders of Company Bonds entered on the Company's register of bondholders ("Eligible Bondholders") on the 7 May 2021 ("Cut-Off Date").
LifeStar Holding plc (C19526) Testaferrata Street, Ta'Xbiex, XBX 1403 Malta
t. +356 2134 2342 e. [email protected]
w. lifestarholding.com
LifeStar Insurance Ltd (C29086) is authorised under the Insurance Business Act, Cap 403 and is regulated by the MFSA. LifeStar Health Ltd (C6393) acts as an insurance agent for Bupa Global DAC under the Insurance Distribution Act, Cap 487 and is regulated by the MFSA. GlobalCapital Financial Management (C30053) is licensed to provide investment services in Malta by the MFSA.
Suspension of Trading in Company Bonds
The Company wishes to inform the market of the voluntary suspension in trading in the Company Bonds, to allow the exchange operations to be completed, with effect from 5 May 2021. The Subordinated Bond Prospectus will be issued by LifeStar Insurance, subject to approval by the Listing Authority.
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By Order of the Board.
03 May 2021
LifeStar Holding plc (C19526) Testaferrata Street, Ta'Xbiex, XBX 1403 Malta
t. +356 2134 2342
w. lifestarholding.com
LifeStar Insurance Ltd (C29086) is authorised under the Insurance Business Act, Cap 403 and is regulated by the MFSA. LifeStar Health Ltd (C6393) acts as an insurance agent for Bupa Global DAC under the Insurance Distribution Act, Cap 487 and is regulated by the MFSA. GlobalCapital Financial Management (C30053) is licensed to provide investment services in Malta by the MFSA.