51II Lv Bonds.43

TIDM51II

RNS Number : 3364V

LV=

10 December 2021

LV= announces result of the member vote at Members' Meeting

10 December 2021

LV= today announces the results of its Members' Meeting.

This follows the outcome of the vote on the acquisition of the LV= business by Bain Capital at the Special General Meeting earlier today, with the result that the transaction with Bain Capital will no longer proceed.

69% of members voted to approve a Scheme of Arrangement to make a change to Article 14.23 at the Members' Meeting. The required threshold was 75% which means the resolution did not pass and there will be no change to the company's Article 14.23. As a result, the Sanction Hearing booked for 20 December will not now go ahead.

175,460 of the LV='s 1.16 million members voted, with 119,011 members, representing 69% of valid votes cast, voting in support of the Resolution, and 52,251 members representing 31% of valid votes cast, voting against it.

These numbers are subject to final verification, which would not be expected to affect the result.

-Ends-

For further information, please contact:

   Jon Sellors (LV=)                07711 701 806                    jon.sellors@lv.com 
   Ed Berry (FTI)                     07703 330 199                   edward.berry@fticonsulting.com 
   Tom Blackwell (FTI)           07747 113 919                   tom.blackwell@fticonsulting.com 

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December 10, 2021 11:33 ET (16:33 GMT)

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