Board of Directors of LifeStar Holding p.l.c. (MTSE:LSR) announced the split off 10.1% stake of LifeStar Insurance plc (MTSE:) on October 9, 2020. Under the terms, exchange rate is 1. Pursuant to the Exchange Offer and the Share Offer, LifeStar Holding's holding in the Company will be diluted by 25% to 38.71%. The Exchange Offer is conditional, meaning that certain conditions must be fulfilled including listing authority approval for LifeStar Holding to be bound by the Exchange Offer.

As of October 9, 2020 Board of Directors approved the transaction. As of April 26, 2021, shareholders of LifeStar Holding approved the transaction. Exchange date is May 28, 2021 and expected to close May 19, 2021.