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Sagicor Financial Cautions Investors Regarding New York Stock and Bond LLC Mini-Tender Offer for Shares
Sagicor Financial Cautions Investors Regarding New York Stock and Bond LLC Mini-Tender Offer for ...
About this update from Sagicor Financial Co. Ltd. Class A
[{"type":"text","content":"\n\n\n\n Sagicor Financial Cautions Investors Regarding New York Stock and Bond LLC Mini-Tender Offer for Shares\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n and\n \n BARBADOS\n \n\n ,\n \n\n March 10, 2025\n \n\n /CNW/ - Sagicor Financial Company Ltd. (TSX: SFC) (\"Sagicor Financial\" or \"Sagicor\") has been notified of an unsolicited mini-tender offer made by New York Stock and Bond LLC (\"New York Stock and Bond\") to purchase up to 100,000 Sagicor common shares, or less than 0.075% of the common shares outstanding, at a price of\n \n US$4.30\n \n\n (C$6.12)\n \n\n (1)\n \n per common share.\n \n\n\n Sagicor is in no way associated with New York Stock and Bond and does not recommend or endorse acceptance of this unsolicited offer.\n \n\n\n The unsolicited offer represents a discount of approximately 23.98% below the closing price of Sagicor's common shares on the TSX on February 13, 2025, the last trading day before the mini-tender offer was commenced, and a discount of approximately 14.17% to the closing price of Sagicor's common shares on the TSX on March 7, 2025\n \n (1\n \n\n )\n \n . The common shares do not trade on a recognized stock exchange in the United States.\n \n\n Mini-tender offers are designed to seek less than 5% of a company's outstanding shares, avoiding disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. Securities regulators have expressed serious concerns about mini-tender offers.  To read more about the risks of mini-tender offers, please review the Canadian Securities Administrators' comments\n \n\n here\n \n\n .\n \n\n Shareholders should carefully review the New York Stock and Bond offer documents and...