Sagicor vote postponed

A meeting that was scheduled in Barbados over the restructuring of regional insurance conglomerate Sagicor Financial Corporation Limited, SFC, has been postponed.

Both Sagicor and the Canadian company that is acquiring it for US$536 million or US$1.75 per share want more time to sell the deal to shareholders, according to a market notice from SFC.

Shareholders of the insurance conglomerate were scheduled to consider and vote on a new scheme of arrangement for Sagicor tat a meeting initially scheduled for March 13. A new date is to be decided.

The postponement is “to allow Alignvest Acquisition II Corporation and the company more time to market the proposed transaction to be considered by shareholders and afford time for investors and shareholders to understand the publicly available information,” Sagicor Financial said in its market filing.

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