In connection with the renewal of its NCIB, Sagicor has also extended the term of its automatic share purchase plan ("ASPP") in relation to purchases made in connection with the NCIB to allow it to purchase the NCIB Shares under the NCIB when Sagicor would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods. Pursuant to the ASPP, Sagicor will provide instructions during the non-blackout periods to its designated broker, which instructions may not be varied or suspended during the applicable blackout period. Purchases by Sagicor's designated broker will be in accordance with stock exchange rules, applicable securities laws and the terms of the ASPP, and all purchases made under the ASPP will be included in computing the number of NCIB Shares purchased under the NCIB. The ASPP has been pre-cleared by the TSX. Until the ASPP is in effect, the Company's prior automatic share purchase plan shall remain in effect.
The actual number of Common Shares that may be purchased under the NCIB and the timing of any such purchases will be determined by Sagicor. The average daily trading volume through the facilities of the TSX during the 26-week period ending
Sagicor believes that the underlying value of the Company may not be accurately reflected at times in the market price of the Common Shares, and that purchasing its own shares represents an attractive opportunity that is in the best interests of Sagicor and its shareholders, as well as providing liquidity for its shareholders who may wish to dispose of their shares.
The Company's previous NCIB commenced on
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Cautionary Statements
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", "target", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may", "would" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to the NCIB and ASPP. In particular, there can be no assurance as to the number of shares that may be repurchased. These forward-looking statements reflect material factors and expectations and assumptions of Sagicor. Sagicor's estimates, beliefs, assumptions and expectations contained herein 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 contained herein, which reflect Sagicor's estimates, beliefs, assumptions and expectations only as of the date of this document. Sagicor disclaims any obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, new assumptions, future events or otherwise, except as expressly required by law.
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