Sagicor Jamaica Shareholders to Vote on Scheme of Arrangement on October 28

  • By order of the Supreme Court dated July 30, 2026, Sagicor Group Jamaica Limited will hold a court-ordered meeting of its ordinary stockholders to consider and vote on a Scheme of Arrangement. This is not a general meeting; its sole purpose is the Scheme vote.
  • If approved and sanctioned, all stock units held by stockholders on record at the Scheme Record Time would be transferred to Sagicor Group Caribbean Limited, with the Company Secretary or a Director authorised to sign a Global Transfer on their behalf.
  • The hybrid meeting takes place at 10:00 a.m. on October 28, 2026, at the Auditorium, R. Danny Williams Building, 28–48 Barbados Avenue, Kingston 5, with online access via iteneri.com/sagicor. Stockholders on the register at 6:00 p.m. on October 27, 2026, may attend and vote in person, online or by proxy, and should register for virtual access by 10:00 p.m. that day.
  • Approval requires a majority in number of stockholders present and voting, representing at least three-fourths in value of the stock units voted. Once approved and sanctioned, the Scheme binds all stockholders, including those who did not vote or voted against it.
  • The Scheme also needs Supreme Court sanctions and registration of the Court order with the Registrar of Companies to take effect. Peter Melhado will chair the meeting (or Christopher Zacca in his absence), and stockholders are urged to read the Explanatory Statement in the Combined Scheme & EGM Booklet and return proxy forms early
  • The Scheme is the mechanism for merging Sagicor Group Jamaica with Sagicor Life Inc under a new holding company, Sagicor Group Caribbean (SGC), which will replace SGJ on the Jamaica Stock Exchange. The combined group would have about US$6.9Bn in assets, with Sagicor Financial owning roughly 55%. If shareholders approve it on October 28, the deal still needs Court sanction, regulatory approvals and financing before it can close, which is expected in 2026.
  • SJ’s stock price has increased by 5.6% since the start of the year to close at $42.42 on October 7, 2026. At this price, the stock is trading at a price-to-book (P/B) ratio of 1.4x, which is above the Main Market median of 0.8x.

(Sources: JSE& NCBCM Research)