Jul 2016 Financial News

Sagicor Financial Corporation - Notice of Redemptions Convertible Redeemable Preference Shares

Jul 01, 2016

SAGICOR FINANCIAL CORPORATION NOTICE OF REDEMPTION OF CONVERTIBLE REDEEMABLE
PREFERENCE SHARES 

NOTICE OF RECORD DATE FOR PAYMENT OF DIVIDEND ON CONVERTIBLE REDEEMABLE PREFERENCE SHARES AND CURRENCY CONVERSION FOR BDS$

NOTICE IS HEREBY GIVEN
1. That in accordance with the terms of their issuance Sagicor Financial Corporation (“the Company”) will redeem on July 18, 2016 all of its outstanding unconverted Convertible Redeemable Preference Shares in the capital of the Company (“Preference Shares”). The amount to be paid on redemption is one dollar per share United States currency (US$) or where applicable its equivalent in local currency (the “Redemption Price”) and this will be paid to the Convertible Redeemable Preference Shareholders of record at the close of business on
July 8, 2016.

2. In accordance with the Companies Act Cap 308 of the Laws of Barbados that the Directors of the Company have by resolution declared a final dividend of 1.13 cents per share United States currency on the outstanding Preference Shares, to be paid on July 18, 2016 to the Convertible Redeemable Preference Shareholders of record at the close of business on July 8, 2016.

3. That the Directors of the Company have by resolution fixed the currency conversion rate of US$0.50 to BDS$1.00 for the payment of the Redemption Price and dividend in Barbados currency (BDS$) to Convertible Redeemable Preference Shareholders resident in Barbados.

The dividend will be paid separately from the Redemption Price. Preference Shares will trade “ex div” from July 6, 2016. Only those Convertible Redeemable Preference Shareholders of record on July 8, 2016 will be entitled to receive the final dividend.

The tax consequences of a redemption for shareholders may be different from that of a sale. Holders should consult their tax advisors regarding the tax treatment to them of any capital gain or capital loss arising on the redemption of the Preference Shares based on their particular circumstances.

From and after July 18, 2016, the holders of the Preference Shares will not be entitled to dividends or
to exercise any rights of holders of Preference Shares in respect of such shares except to receive the
amount paid on redemption.

Dated June 29, 2016.

By Order of the Board of Directors

Althea C. Hazzard
Corporate Secretary

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday July 1, 2016