TORONTO and BARBADOS, May 5, 2025 /CNW/ - Sagicor Financial Company Ltd. (TSX: SFC) ("Sagicor Financial" or "Sagicor") has been notified of an unsolicited mini-tender offer made by Barbados Stock Trading Company LLC ("BSTC") to purchase up to 500,000 Sagicor common shares, or less than 0.37% of the common shares outstanding, at a price of US$3.75 (C$5.37)⁽¹⁾ per common share. BSTC's mini-tender offer indicates that the offer price may be settled in a shareholder's local currency.

Sagicor is in no way associated with BSTC and does not recommend or endorse acceptance of this unsolicited offer.

The unsolicited offer represents a discount of approximately 29.62% below the closing price of Sagicor's common shares on the TSX on March 24, 2025, the last trading day before the mini-tender offer was commenced, and a discount of approximately 32.03% to the closing price of Sagicor's common shares on the TSX on May 2, 2025⁽¹⁾. The common shares do not trade on a recognized stock exchange in the United States. 

Mini-tender offers are designed to seek less than 5% of a company's outstanding shares, avoiding disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. Securities regulators have expressed serious concerns about mini-tender offers. To read more about the risks of mini-tender offers, please review the Canadian Securities Administrators' comments here. 

Shareholders should carefully review the BSTC offer documents and current market price for Sagicor common shares and consult their investment advisors regarding any offer they may receive and review with their advisors all options for their investment in Sagicor common shares.  According to BSTC's offer documents, Sagicor shareholders who have already tendered their common shares can withdraw their shares no more than 14 days after the date of delivery of their tender form to BSTC by following the procedure described in the offer documents.

Sagicor requests that a copy of this news release be included in any distribution of materials relating to BSTC's mini-tender offer for Sagicor common shares.

About Sagicor Financial Company Ltd.

Sagicor Financial Company Ltd. (TSX: SFC) is a leading financial services provider with over 180 years of history in the Caribbean, over 90 years of history in Canada, and a growing presence in the United States with over 70 years of history. Sagicor offers a wide range of products and services, including life, health, and general insurance, banking, pensions, annuities, investment management, 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.  Additional information about Sagicor can be obtained by visiting www.sagicor.com.

www.sagicor.com/en/InvestorRelationsHomePage 

SOURCE Sagicor Financial Company Ltd.