Resolution Limited RSL Statement re proposed Friends Life Group plc Notes

  Resolution Limited (RSL) - Statement re proposed Friends Life Group plc
  Notes

RNS Number : 7911P
Resolution Limited
29 October 2012
 



                              RESOLUTION LIMITED

Launch by Friends Life Group plc of proposed Reset Perpetual Subordinated Note
                                   issuance

Resolution Limited  (the "Company")  announces  that on  29 October  2012  its 
subsidiary, Friends  Life Group  plc, launched  a proposed  issuance of  Reset 
Perpetual Subordinated Notes (the "Notes"). If successful, the Company intends
to apply the proceeds of the issuance of the Notes to make early repayment  of 
the deferred consideration notes issued by it to AXA UK in connection with the
acquisition of the  AXA UK life  business (in respect  of which  approximately 
£363 million is outstanding as at the date of this announcement).

 

For further information, please contact:

Investors/analysts
Neil Wesley, Resolution Operations LLP                               +44 (0)20
3372 2928

Media
Alex Child-Villiers, Temple Bar Advisory                              +44 (0)
7795 425580

The Company's  ordinary shares  were  admitted to  the  Official List  and  to 
trading on the main market of the London Stock Exchange in December 2008.  The
Company  transferred  to  a  Premium   Listing  as  it  completed  its   first 
acquisition, Friends Provident Group plc, on 4 November 2009 and is subject to
those provisions of the Listing Rules that apply to overseas companies with  a 
Premium Listing. The Company completed its second acquisition, the majority of
the AXA UK  life business,  on 15  September 2010.   On 31  January 2011,  the 
Company completed  its third  acquisition,  the shares  and business  of  Bupa 
Health Assurance Limited.

A copy  of this  announcement is  and will  be available,  subject to  certain 
restrictions relating  to persons  resident in  restricted jurisdictions,  for 
inspection on the Company's website at www.resolution.gg

For the avoidance of  doubt any other information  contained on the  Company's 
website does not form part of this announcement.

END

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
MSCPGGUUUUPPGMB -0- Oct/29/2012 17:01 GMT