Special Advisory: Sagicor Group Jamaica Limited  (SJ)

Date: June 24, 2019

Sagicor Group Jamaica Limited  (SJ) has advised that Sagicor Investments Jamaica Limited (SIJL) will be acquiring a sixty-percent stake in Advantage General Insurance Company Limited (AGIC) from NCB Capital Markets Limited, a subsidiary of National Commercial Bank Jamaica Limited. The acquisition, subject to all regulatory approvals, is expected to be finalized in the coming months. A newly formed entity headed by Mark Thompson, CEO of AGIC, will hold a thirty-four percent stake in the company; while portfolio management company, Resource in Motion, will hold six percent. SJ has also advised that two Officers and two connected parties sold a total of 17,893,443 SJ shares during the period June 10 to 14, 2019. SJ has further advised that an Officer purchased 78,892 SJ shares under the Executive Share Option Plan on June 18, 2019.

2019-06-24T22:04:11+00:00