June 17 (Reuters) - Sagicor Financial Corp SAFI.L :
* ALIGNVEST ACQUISITION II CORPORATION AND SAGICOR FINANCIAL CORPORATION LIMITED ANNOUNCE CASH CONSIDERATION ELECTION RESULTS, UPDATED TSX CONDITIONAL APPROVAL AND BERMUDA COURT APPROVAL
* OUT OF MAXIMUM OF US$205 MILLION, CO'S SHAREHOLDERS HAVE ELECTED TO RECEIVE AGGREGATE OF ABOUT US$20 MILLION IN CASH CONSIDERATION FOR AQY'S DEAL WITH CO
* VAST MAJORITY OF SAGICOR'S SHAREHOLDERS WILL BE RECEIVING SOLELY SHARE CONSIDERATION AND RETAINING THEIR FULL INVESTMENT IN BUSINESS
* FOLLOWING COMPLETION OF TRANSACTION, IT IS EXPECTED THAT AQY WILL RETAIN OVER US$420 MILLION OF CASH PRIOR TO EXPENSES
* HAS OBTAINED APPROVAL OF SUPREME COURT OF BERMUDA FOR BERMUDA SCHEME OF ARRANGEMENT FORMING PART OF TRANSACTION
* TRANSACTION AND JMMB SUBSCRIPTION ARE EXPECTED TO BE COMPLETED IN Q3 2019