Resolution Limited (RSL) - Statement re proposed Friends Life Group plc
RNS Number : 7911P
29 October 2012
Launch by Friends Life Group plc of proposed Reset Perpetual Subordinated Note
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:
Neil Wesley, Resolution Operations LLP +44 (0)20
Alex Child-Villiers, Temple Bar Advisory +44 (0)
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.
This information is provided by RNS
The company news service from the London Stock Exchange
MSCPGGUUUUPPGMB -0- Oct/29/2012 17:01 GMT
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