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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sagicor Financial Corporation Limited | LSE:SFI | London | Ordinary Share | BMG7777B1046 | COM SHS USD0.01 (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 117.50 | 105.00 | 130.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMSFI
RNS Number : 1627F
Sagicor Financial Corporation Ltd
25 October 2018
SAGICOR FINANCIAL CORPORATION LIMITED
NOTICE OF MATERIAL CHANGE
On September 7, 2018 the Government of Barbados (GoB) entered into a Staff-Level Agreement with the International Monetary Fund (IMF) to provide financial and technical assistance. As part of the programme, the GoB launched a Debt Exchange Offer for GoB Domestic Barbados dollar debt holders on September 7, 2018. The GoB announced on October 15, 2018 that its Exchange Offer received unanimous support from the domestic creditors. A restructuring plan has not yet been announced for the External US dollar denominated debt.
The Sagicor Group holds approximately US $333 million in GoB debt, of which US $297 million is domestic Barbados-dollar denominated debt.
The Sagicor Group has estimated the net impact of the credit events on GoB debt to shareholders at approximately US $30 million, as at June 30, 2018 based on information available at that time. We are in the process of revising our estimates based on the completed Exchange Offer and the
revised impact will be reflected in our Q3, 2018 results, due to be published on November 14, 2018.
The Sagicor Group's capital adequacy ratio after the completed Exchange Offer is expected to be in the region of 230% after any additional provision in Q3, 2018 results. The capital adequacy ratio remains above the Group's target ratio of 175%.
About Sagicor Financial Corporation Limited
Sagicor is the leading financial services provider in the Caribbean, operating in 23 countries including the USA and Latin America, dating back to 1840. With total assets of US $6.8 billion, and US $932 million in capital as at December 2017, Sagicor Financial offers a wide range of products and services, including life, health, and general insurance, banking, pensions, annuities and real estate, and has an insured base of approximately two (2) million. A widely-held publicly-traded company, with approximately 37,000 Shareholders, Sagicor is listed on the stock exchanges of Barbados, Trinidad & Tobago and London.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
MSCGRBDGLDDBGIU
(END) Dow Jones Newswires
October 25, 2018 03:29 ET (07:29 GMT)
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