ST. MICHAEL, Barbados and TORONTO, March 30, 2020 /CNW/ - Sagicor Financial Company Ltd. ("Sagicor") announced today that, in light of the disruptions caused by the COVID-19 pandemic, and in particular delays in receiving finalized annual financial statements in respect of certain of its consolidated subsidiaries in the Caribbean, it will avail itself of the temporary exemption from certain filing requirements provided in Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements ("OI 51-502"), which was promulgated by the Ontario Securities Commission in response to the ongoing COVID-19 pandemic, and similar instruments in other applicable jurisdictions. In particular, Sagicor is relying on the exemption provided by these instruments for (i) the filing and delivery of annual financial statements ("Annual Financial Statements") required by sections 4.2 and 4.6 of National Instrument 51-102 ("NI 51-102"), (ii) the filing and delivery of the related annual management's discussion & analysis ("MD&A") required by sections 5.1 and 5.6 of NI 51-102, and (iii) the filing of an annual information form required by section 6.2 of NI 51-102.
Sagicor currently expects that the above noted filings will be made on or before April 30, 2020.
Sagicor intends to use the notice-and-access procedures for the delivery of its proxy-related materials for its upcoming meeting of shareholders.
Sagicor has in place an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, and its management, directors and other applicable insiders are subject to such policy.
To the knowledge of Sagicor, there have been no material business developments since September 30, 2019 other than as have been previously publicly disclosed, except for the potential impact of the COVID-19 pandemic. While it is still too early to assess the impact from the current pandemic, Sagicor is actively monitoring the business environment in each of the markets in which it operates.
About Sagicor Financial Company Ltd.
Sagicor Financial Company Ltd. (TSX: SFC) is a leading financial services provider in the Caribbean, with almost 180 years of history, and has a growing presence as a provider of life insurance products in the United States. Sagicor offers a wide range of products and services, including life, health, and general insurance, banking, pensions, annuities, and real estate. Sagicor's registered office is located at Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda, with its principal office located at Cecil F De Caires Building, Wildey, St. Michael, Barbados.
Certain information contained in this news release may be forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are often, but not always identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to the filing, sending and delivery of certain documents, and the impact of the COVID-19 pandemic. These forward-looking statements reflect material factors and expectations and assumptions of Sagicor. Sagicor's estimates, beliefs and assumptions are inherently subject to uncertainties and contingencies regarding future events and as such, are subject to change. Risks and uncertainties not presently known to Sagicor or that it presently believes are not material could cause actual results or events to differ materially from those expressed in its forward-looking statements. Additional information on these and other factors that could affect events and results are included in other documents and reports that will be filed by Sagicor with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Sagicor's expectations only as of the date of this document. Sagicor disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
SOURCE Sagicor Financial Company Ltd.
For further information: Sagicor Financial Company Ltd., Media Enquiries, Ingrid Card, Vice President, Group Marketing, Communications & Brand Experience, 246-230-5315 or [email protected]; Investor Enquiries, Samantha Cheung, Executive Vice President, Investor Relations, 416-898-4324 or 1-800-342-0719 or [email protected]