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Earnings Announcements, Mergers / Acquisitions

Third Point Reinsurance Announces Deal With Sirius International Insurance Preference Shareholders

Published: 09/11/2020 12:17 GMT
(SG) - Third Point Reinsurance Ltd.
Announces Definitive Agreement With Sirius International Insurance Group, Ltd.
Preference Shareholders.
Third Point Reinsurance Ltd.
Announces Definitive Agreement With Sirius International Insurance Group, Ltd.
Preference Shareholders.
Third Point - 4 Institutional Investors With Sirius's Series B Preference Shares to Convert Them Into Upto $260 Million of Series B Preference Shares of Siriuspoint.
Third Point Reinsurance - New Preference Shares Will Be Perpetual in Nature, Carry 8.00% Annual Cumulative Cash Dividend.
Third Point Reinsurance Ltd -siriuspoint to Have Option to Substitute Up to $60 Million in Cash in Lieu of an Equal Face Amount of New Preferred Stock.
Third Point - in Exchange for New Preference Shares, Cornerstone Investors Agreed to Toll Some Potential Claims They May Have Against Sirius.
Third Point Reinsurance - Cornerstone Investors Have Agreed to Release Such Potential Claims Against Sirius Upon Closing of Merger.