22nd Nov 2016 14:35
Alternative Asset Opportunities PCC Limited
(the "Company")
22 November 2016
Shareholder Update
The Board advises that as at the close of business on 18 November 2016, a further 12 policies had been fully transferred to the purchasers, Vida Longevity L.P and Life Equity LLC and aggregate funds of US$4.0 million had been received. Funds received include the refund of associated premium payments made since the risk transfer date of 12 September to keep the policies valid and in effect.
There are 15 policies remaining in the transfer process of which one has matured post the risk transfer date; maturity proceeds of USD$2m have been received of which $873k has been transferred to the policy purchaser, Vida Longevity L.P. Further transfer completions are expected to take place in batches on a weekly basis.
In accordance with the Board's cash policy, US$5.1 million has today been converted into Sterling.
Enquiries:
Tracey Lago
Company Secretary Tel: 020 3246 7405
Related Shares:
TLI.L