Mar 2020 Financial News

Sagicor Financial Corporation Limited - Delay in Financial Filings

Mar 31, 2020

Barbados and Toronto, March 30, 2020 – Sagicor Financial Company Ltd. (“Sagicor”) announced today that, in light of the disruptions caused by the COVID-19 pandemic, and in particular delays in receiving finalized annual financial statements in respect of certain of its consolidated subsidiaries in the Caribbean, it will avail itself of the temporary exemption from certain filing requirements provided in Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements (“OI 51-502”), which was promulgated by the Ontario Securities Commission in response to the ongoing COVID-19 pandemic, and similar instruments in other applicable jurisdictions. In particular, Sagicor is relying on the exemption provided by these instruments for

• the filing and delivery of annual financial statements (“Annual Financial Statements”) required by sections 4.2 and 4.6 of National Instrument 51-102 (“NI 51-102”),
• the filing and delivery of the related annual management’s discussion & analysis (“MD&A”) required by sections 5.1 and 5.6 of NI 51-102, and
• the filing of an annual information form required by section 6.2 of NI 51-102.

Sagicor currently expects that the above noted filings will be made on or before April 30, 2020.

Sagicor intends to use the notice-and-access procedures for the delivery of its proxy-related materials for its upcoming meeting of shareholders.

Sagicor has in place an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, and its management, directors and other applicable insiders are subject to such policy.

To the knowledge of Sagicor, there have been no material business developments since September 30, 2019 other than as have been previously publicly disclosed, except for the potential impact of the COVID-19 pandemic. While it is still too early to assess the impact from the current pandemic, Sagicor is actively monitoring the business environment in each of the markets in which it operates.



Source:
The Trinidad and Tobago Stock Exchange Limited
Tuesday 31st March, 2020