Sagicor Group Jamaica Limited has released its combined scheme and extra ordinary general meeting booklet along with the related shareholder documents today.
The company says this marks an important milestone in the proposed creation of a more integrated Caribbean organization.
The documents outline a two-stage reorganization process, which will bring Sagicor Jamaica and Sagicor Life together under the name Sagicor Group Caribbean Limited or Sagicor Caribbean.
Sagicor Group Jamaica Limited also stressed that the first step in the proposed reorganization process is a court approved scheme of arrangement under which Sagicor Caribbean would become the company listed on the Jamaica Stock Exchange, rather than Sagicor Jamaica Limited.
The company also stressed that, if the court and the shareholders approve the scheme, Sagicor Jamaica shareholders will get one Sagicor Caribbean share for every one that they currently own. This will leave the ownership structure unchanged after the scheme.
Sagicor Caribbean would then purchase both Sagicor Jamaica and Sagicor Life Inc., and become the parent company .
The shareholders' meeting for the court approved scheme will be held at 10 am on October 28, and the extraordinary general meeting will be held at 11.30 am on the same day.
The meetings will be held at the company's 28 to 48 Barbados Avenue headquarters, and shareholders may attend in person or online.
Christopher Zacca, CEO of Sagicor Jamaica and Sagicor Caribbean, commenting on the matter, stressed that the move is an important one in its Caribbean journey because it provides an opportunity to build a stronger, larger and more connected financial services group.
.jpg)
All feeds
