Effective Monday, Sagicor Life Jamaica will be replaced on the Jamaica Stock Exchange by Sagicor Group Jamaica.
With the change, shareholders of Sagicor Life Jamaica will hold the same number of shares in Sagicor Group at the same value.
Sagicor Group was recently formed as a holding company to enable improved capital management and align the entity's organizational structure with the requirements of the new omnibus legislation for deposit taking institutions.
The share exchange was approved by the Supreme Court, the Registrar of Companies and stockholders who voted unanimously in favour of the Scheme of Arrangement at an extraordinary general meeting in September.
Day-to-day operations of Sagicor Life Jamaica and its subsidiaries, including Sagicor Investments and Sagicor Bank will not be affected by the reorganisation.
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