Sagicor Group Jamaica Limited has acquired an additional 40,163,969 shares in 138 Student Living Jamaica Limited via its Sagicor Pooled Equity Fund bringing the total percentage holding to 21.88%.
Sagicor Group Jamaica closed at JA$30.00 a 31cents or 1.04% gain today on the Jamaica Stock Exchange.
Sagicor Group Jamaica Limited Advises of the Acquisition of Shares in 138 Student Living Limited by Sagicor Pooled Equity Fund
Posted: January 31, 2017 at 2:43 pm JSE Website
Sagicor Group Jamaica Limited (SJ) has advised of their interest in 138 Student Living Limited (138SL) as a consequence of the acquisition by Sagicor Pooled Equity Fund (SPEF) of an additional 9.48% interest in 138SL, bringing the Company’s total percentage holding in 138SL to 21.88% in aggregate.
SJ states the following:
(a) The entity acquiring the equity is Sagicor Pool Equity Fund, a pooled pension fund managed by Sagicor Life Jamaica Limited as Investment Manager, a company incorporated under the laws of Jamaica and having registered office at 28-48 Barbados Avenue, Kingston 5.
(b) A pooled pension fund investing in equities.
(c) The company further declares:
i. The amount of equity which it acquired is 40,163,969 units in 138 Student Living Limited;
ii. The purpose of the acquisition is for income and cash flow purposes;
iii. No further purchases of equity in the company are contemplated by the Fund;
iv. The Fund does not intend to acquire control of the business and/or majority shareholding of 138 Student Living Limited.