United Kingdom Mutual Steam Ship As Redeeming Subordinated Capital Securities (3555V)

TIDM51EN

RNS Number : 3555V

United Kingdom Mutual Steam Ship As

23 July 2018

23 July 2018

The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited (the "Issuer")

US$100,000,000 Perpetual Subordinated Capital Securities (ISIN: XS0382144979) (collectively, the "Capital Securities") issued by the Issuer

Exercise of Issuer's Call Option

The Issuer hereby announces that it has given notice to the Holders that it will redeem all of the Capital Securities in full on 22 August 2018 (being the First Call Date) at their principal amount together with accrued and unpaid interest up to the First Call Date, pursuant to Condition 7(b) (Issuer's Call Option), such redemption amounts to be payable in cash in accordance with Condition 8.

Application will be made for the admission of the Capital Securities to the Official List of the United Kingdom Listing Authority to be cancelled following such redemption in accordance with the Listing Rules.

All capitalised terms used but not defined in this announcement shall have the meanings and constructions ascribed to them in the terms and conditions of the Capital Securities.

Ends

For further information please contact:

Jonathan Atkins / Alastair Doyle

Four Broadgate

UKP&[e-mail] / [phone]

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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July 23, 2018 02:00 ET (06:00 GMT)