REG - SAGA Plc - Response to Media Coverage

SagaAnnouncement

10/02/2023 07:00

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RNS Number : 5152P  SAGA PLC  10 February 2023

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OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

 

10 February 2023

Saga plc

Response to Media Coverage

Saga plc (Saga or the Group) notes recent media coverage about the potential
sale of Acromas Insurance Company limited (AICL), the underwriter that is part
of its wider Insurance business, and confirms that it is in exclusive
discussions with Open Insurance Technologies Pty Ltd regarding a possible sale
of this business.

Discussions are ongoing and there can be no certainty that any transaction
will occur. Any disposal of AICL would require regulatory and shareholder
approvals. A further announcement will be made in due course.

 

Enquiries:

Saga plc

Emily Roalfe, Head of Investor Relations and Treasury  +44 (0) 7732 093 007

 

Headland Consultancy

Susanna Voyle  +44 (0) 203 805 4822

Will Smith

 

Numis

Luke Bordewich  +44 (0) 207 260 1000

Charles Farquhar

Giles Rolls

 

Notes to Editors:

Saga is a specialist in the provision of products and services for people over
50. The Saga brand is one of the most recognised and trusted brands in
the UK and is known for its high level of customer service and its high
quality, award-winning products and services including cruises and holidays,
insurance, personal finance and publishing.  www.saga.co.uk
(http://www.saga.co.uk/)

Saga Insurance is the UK's specialist in insurance products for people over 50
in the UK, comprising Retail Broking, which includes principally motor, home,
private medical and travel insurance and AICL, the Group's in-house
underwriter. AICL sits on Saga Insurance's panel of insurers and underwrites
approximately 25-30% of Saga's insurance business.

Further information

Numis Securities Limited (Numis), which is authorised and regulated in the
United Kingdom by the Financial Conduct Authority, is acting as Financial
Adviser exclusively for Saga and no one else in connection with the matters
set out in this announcement and will not regard any other person as its
client in relation to the matters in this announcement and will not be
responsible to anyone other than Saga for providing the protections afforded
to clients of Numis, nor for providing advice in relation to any matter
referred to herein.

This announcement is not intended to and does not constitute an offer to sell
or the solicitation of an offer to subscribe for or buy or an invitation to
purchase or subscribe for any securities or the solicitation of any vote in
any jurisdiction.

The release, publication or distribution of this announcement in jurisdictions
outside the United Kingdom may be restricted by law and therefore persons into
whose possession this announcement comes should inform themselves about and
observe such restrictions. Any failure to comply with such restrictions may
constitute a violation of the securities law of any such jurisdiction.

 

 

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