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Sagicor Financial Company Ltd. Announces Normal Course Issuer Bid
Sagicor Financial Company Ltd. Announces Normal Course Issuer Bid Canada NewsWire ...
About this update from Sagicor Financial Co. Ltd. Class A
[{"type":"text","content":"\n\n\n\nSagicor Financial Company Ltd. Announces Normal Course Issuer Bid\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO AND BARBADOS, June 17, 2020\n\n\n\nTORONTO AND BARBADOS, June 17, 2020 /CNW/ - The board of directors of Sagicor Financial Company Ltd. (\"Sagicor\") has authorized a share buyback program that will allow Sagicor to repurchase up to 3,000,000 of Sagicor's common shares (the \"NCIB Shares\"). The Toronto Stock Exchange (the \"TSX\") has accepted Sagicor's notice of intention to make a normal course issuer bid (\"NCIB\") through which Sagicor may purchase the NCIB Shares during the 12-month period commencing June 22, 2020 and ending June 21, 2021. The number of shares authorized for purchase represents 2.01 percent of Sagicor's 149,161,886 issued and outstanding common shares as of June 16, 2020.  Under the NCIB, purchases may be made on the open market through the facilities of the TSX and/or alternative Canadian trading systems at the market price at the time of acquisition, as well as by other means as may be permitted by TSX rules and applicable securities laws. However, Sagicor may establish a maximum price and/or maximum block trade size from time to time.\nSagicor has also entered into an automatic share purchase plan (\"ASPP\") in relation to purchases made in connection with the NCIB to allow it to purchase the NCIB Shares under the NCIB when Sagicor would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods. Pursuant to the ASPP, Sagicor will provide instructions during the non-blackout periods to its designated broker, which instructions may not be varied or suspended during the applicable blackout period. Purchases by Sagicor's designated broker will be in accordance with stock exchange rules, applicable securities laws and the terms of the ASPP, and all purchases made under the ASPP will be included in computing the number of NCIB Shares purchased under the NCIB. The ASPP has been pre-cleared by the TSX.\nThe actual number of common sha...