Business
Sagicor Financial Company Ltd. cautions investors regarding New York Stock and Bond LLC mini-tender offer
Sagicor Financial Company Ltd. cautions investors regarding New York Stock and Bond LLC m...
About this update from Sagicor Financial Co. Ltd. Class A
[{"type":"text","content":"\n \n \n \n Sagicor Financial Company Ltd. cautions investors regarding New York Stock and Bond LLC mini-tender offer\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; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt initial; BORDER-RIGHT:black 0pt initial; BORDER-BOTTOM:black 0pt initial; BORDER-LEFT:black 0pt initial\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\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 Oct. 19, 2022\n \n \n /CNW/ - Sagicor Financial Company Ltd. (TSX: SFC) (\"Sagicor\" or \"Company\") has been notified of an unsolicited mini-tender offer by New York Stock and Bond LLC to purchase 10,000 common shares\n \n 1\n \n in the capital of the Company from Sagicor's shareholders at a price of\n \n US$4.00\n \n per common share. The unsolicited offer represents a discount of approximately 12% to the closing price of the common shares on the TSX on\n \n September 20, 2022\n \n \n 2\n \n , the last trading day before the offer was commenced, and a discount of approximately 10% to the closing price of the common shares on the TSX on\n \n October 18, 2022\n \n .\n \n 3\n \n The common shares do not trade on a recognized stock exchange in the United States.\n \n \n Sagicor does not endorse New York Stock and Bond LLC's unsolicited offer, has no association with New York Stock and Bond LLC or its offer, and does not recommend acceptance of the offer. New York Stock and Bond LLC's offer has been made at a price below the current market price for the common shares.\n \n \n Mini-tender offers such as New York Stock and Bond LLC's seek a small number of a class of outstanding shares and so avoid many of the investor protections like disclosure and procedural protections applicable to most bids under Canadian law.  Securities regulators have expressed serious concerns about mini-te...