May 2022

Lamington Road DAC – Financial Statements November 30 2021.pdf

On May 31, 2022, Lamington Road DAC (the “Company”) notified U.S. Bank National Associations, as Trustee (the “Trustee”) under the Lamington Indenture with respect to the Company’s outstanding Series A Notes, Series B Notes and PPNs, that it will cash pay the accrued interest due and payable on the Series A Notes for the six-month period ending June 30, 2022.  The Company additionally notified the Trustee that it will pay a portion of the accrued interest that is due and payable on June 30, 2022 with respect to the Series B Notes as PIK interest and that it will pay the remainder of the accrued interest in cash.  Lamington anticipates the PIK interest portion of the Series B Note payment will equal $2,257,023 and the cash interest portion will equal $119,202. After the June 30, 2022 interest payment date, the outstanding principal amount of the Series A Notes and Series B Notes is anticipated to be $54,828,153 and $71,511,461, respectively.