Sagicor Financial Corporation Ltd Creating Value for Our Customers and Shareholders (1950L)
21 December 2018 - 7:00PM
UK Regulatory
TIDMSFI
RNS Number : 1950L
Sagicor Financial Corporation Ltd
21 December 2018
Press Release
FOR IMMEDIATE RELEASE
Barbados, December 21, 2018
(in USD, except as otherwise noted)
Sagicor Financial Corporation Limited
Committed to Creating Value for Our Customers and
Shareholders
On November 27, 2018, Sagicor Financial Corporation Limited
(SFC) announced that it had entered into an "Arrangement Agreement"
with Alignvest Acquisition II Corporation (Alignvest) which heralds
in yet another significant milestone in the long and storied
history of our company. Through this transaction, Sagicor will
acquire a listing on the Toronto Stock Exchange, where it will have
international exposure, greater access to capital to fund its
future growth, and very importantly, be exposed to proper price
discovery for its shares, providing an opportunity to unlock fair
value for all shareholders.
While this is an important step for Sagicor, it has no impact on
any of our operations either in the Caribbean or the United States.
Your local executive team will continue to lead the company and
your Sagicor policies, contracts, customer service representatives
and financial advisors will remain unchanged. This transaction will
make our already strong competitive position even stronger, as we
continue to focus on our objective of being the "insurer of choice"
in the regions where we operate.
Sagicor remains fully committed to the region and having been
your financial partner for over 175 years, we are looking forward
to continuing this journey with you. The proposed arrangement gives
us the ability to explore new opportunities and solutions, which
will allow us to provide even greater value to you. We have already
begun to demonstrate this ability, through our recently announced,
exclusive partnership with Bank of Nova Scotia, which will allow
Scotia's customers in Jamaica and Trinidad & Tobago to access
an enhanced suite of Sagicor products.
We appreciate that these announcements and transactions are
often complex, and we are committed to providing as much
information as possible to inform you of the merits of our
decision. Further to the information available on our website, and
subject to judicial approval under the Laws of Bermuda, we
currently plan to provide Sagicor shareholders with an Explanatory
Statement, in the course of February and we anticipate that a
shareholders meeting will be convened by the end of March. Subject
to shareholder and regulatory approvals, the transaction is
expected to close by the second quarter (Q2) of 2019.
As a committed regional business serving the Caribbean proudly
for more than 175 years, we will continue to strive for excellence
on behalf of all stakeholders and hold steadfast to our vision -
"committed to improving the lives of people in the communities in
which we operate".
We look forward to engaging our stakeholders over the coming
months and will also continue to share information through
traditional media, on our social media pages and at
www.sagicor.com. Your feedback is very important to us and we
invite you to share your comments and queries at
SFC_GroupCommunications@sagicor.com.
We look forward to leading Sagicor on the next phase of our
journey together as we grow from strength to strength.
Sincerely,
Sagicor Financial Corporation Limited
Dodridge Miller
President & CEO
About Sagicor Financial Corporation Limited
Sagicor, a 178-year old entity, is the leading financial
services provider in the Caribbean, and operates in 22 countries
including the USA and Latin America. With total assets of US $6.8
billion, and US $1.3 billion in total capital as at December 31,
2017, Sagicor offers a wide range of products and services,
including life, health, and general insurance, banking, pensions,
annuities and real estate.
Additional information about Sagicor can be obtained by visiting
www.sagicor.com
Sagicor Financial Corporation Limited
Ingrid Card
Vice President - Group Marketing, Communications & Brand
Experience
246-230-5315 or Ingrid_Card@sagicor.com
Samantha Cheung
Executive Vice President - Investor Relations
416-898-4324 or 1-800-342-0719 or
Samantha_Cheung@sagicor.com
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 rns@lseg.com or visit www.rns.com.
END
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