press releases

Toronto and Barbados (June 20, 2024) – Sagicor Financial Company Ltd. (TSX: SFC) (“Sagicor Financial” or “Sagicor” or the “Company”) today announced that the Toronto Stock Exchange (the “TSX”) has accepted Sagicor’s notice of intention to renew its normal course issuer bid (“NCIB”) through which Sagicor may purchase up to 8,951,359 of Sagicor’s common shares (the “NCIB Shares”) during the 12-month period commencing June 24, 2024 and ending June 23, 2025. The number of shares authorized for purchase represents 10 percent of the public float. Sagicor had 141,151,614 issued and outstanding common shares (“Common Shares”) as of June 12, 2024.  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.

In connection with the renewal of its NCIB, Sagicor has also extended the term of its 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. Until the ASPP is in effect, the Company’s prior automatic share purchase plan shall remain in effect.