BlackRock Holds 5% Stake In Senior Holidays Firm Saga (ALLISS)

LONDON (Alliance News) - Saga PLC on Monday said BlackRock Inc now holds a 5.0% stake in the ...

Alliance News 15 April, 2019 | 5:02PM
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LONDON (Alliance News) - Saga PLC on Monday said BlackRock Inc now holds a 5.0% stake in the insurer and travel firm following a transaction on Thursday last week.

Following the deal, BlackRock holds 55.5 million shares in Saga, 467,342 shares' worth of securities lending, and contracts for difference equivalent to 223,570 shares. BlackRock's prior holding, if any, was less than 5%.

Shares in Saga closed down 2.5% at 55.85 pence on Monday.

In early April, Saga warned on its profit for the coming year after it swung to a loss in financial 2019. In its year to January 31, Saga posted a GBP134.6 million pretax loss compared with pretax profit of GBP180.9 million a year ago.

Saga slashed its annual dividend 56% to 4.0 pence per share from 9.0p and announced plans for a new approach to its Insurance business. These changes are, however, likely to eat into its profit in financial 2020.

By Anna Farley; annafarley@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Saga PLC 36.86 GBX 2.96 -
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