PRESIDENTIAL LIFE CORPORATION AND ATHENE ANNUITY & LIFE ASSURANCE COMPANY COMPLETE MERGER
On December 28, 2012, Athene Annuity & Life Assurance Company (Athene Annuity), a Delaware-domiciled insurance company, acquired Presidential Life Corporation (Presidential Life) (former NASDAQ ticker: PLFE), and its subsidiaries (including Presidential Life Insurance Company). Athene Annuity is a wholly-owned subsidiary of Athene Holding Ltd., a Bermuda-based holding company, and is focused on retail fixed and index annuity sales and reinsurance. For additional information regarding the acquisition, please see the attached press release. As a result of the acquisition, Presidential Life’s common shares have been cancelled and have ceased to trade on NASDAQ.
Under the terms of the merger agreement, Presidential Life stockholders are entitled to receive $14 for each share of Presidential Life common stock they exchange. Computershare Inc. has been appointed exchange agent with respect to the Presidential Life common shares, and letters of transmittal containing instructions on how Presidential Life stockholders of record may exchange their shares for payment of the merger consideration are being distributed. Stockholders who hold common shares through a bank or broker should contact their bank or broker to determine what, if any, steps they need to take in order to receive the cash merger consideration for the common shares they beneficially own.
Presidential Life shareholders with questions regarding their Presidential Life common shares or the exchange of such shares should contact Computershare Inc. directly at:
Within USA, US Territories & Canada: 1-800-546-5141.
Outside USA, US Territories & Canada: 1-781-575-2765.