Sagicor Life Jamaica Limited has advised that a Extraordinary General meeting held on September 3, 2013, to consider and approve the proposed Scheme of Arrangement the stockholders in attendance unanimously voted in favour of the Scheme.
With this approval by the stockholders, the Scheme of Arrangement must now be sanctioned by an Order of the Supreme Court and the Registrar of Companies notified before the Scheme becomes effective.
Once the Scheme is approved, all stock units in Sagicor Life Jamaica Limited will be cancelled and the newly created Holding Company, Sagicor Group Jamaica Limited will issue and allot the ordinary shares of equal value in its capital to the Stockholders of the Company. The Sagcior Group shares will also be converted to ordinary stock units and the Sagicor Life stock units will be delisted from the Jamaica Stock Exchange (JSE) and the Sagicor Group stock units will be listed in their place.
