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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 11, 2008
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SCOTTISH RE GROUP LIMITED
(Exact name of registrant as specified in its charter)
Cayman Islands 001-16855 98-0362785
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
P.O. Box HM 2939
Crown House, Second Floor, 4 Par-la-Ville Road
Hamilton HM12
Bermuda N/A
(Address of Principal Executive Offices) (Zip Code)
(441) 295-4451
Registrant's telephone number, including area code
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing
Rule or Standard; Transfer of Listing.
As previously disclosed, Scottish Re Group Limited (the "Company") has been
subject to monitoring by the New York Stock Exchange ("NYSE") for compliance
with its continued listing standards. On March 11, 2008, the Company received
written notice from NYSE Regulation Inc. that trading in the Company's ordinary
shares will be suspended prior to the opening of business on Friday, March 14,
2008 and that the Company's ordinary shares will be delisted. The NYSE will also
suspend the Company's 7.250% non-cumulative perpetual preferred shares in
connection with its suspension of the Company's ordinary shares. The NYSE
indicated that the decision to suspend the Company's ordinary shares was reached
in view of the fact that the Company has fallen below the NYSE's continued
listing standard regarding average closing price over a consecutive 30 trading
day period of not less than $1.00. The NYSE press release noted that the NYSE
also considered the "abnormally low" trading level of the Company's ordinary
shares, which closed at $0.33 on March 10, 2008, with a resultant common market
capitalization of $22.6 million.
The Company is examining other trading alternatives for its ordinary
shares, including the OTC Bulletin Board, to be effective following the
suspension of listing on the NYSE. The Company cannot, however, provide any
assurance that its ordinary shares will be quoted on the OTC Bulletin Board, or
on any other quotation service, following the suspension of listing on the NYSE.
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SCOTTISH RE GROUP LIMITED
By: /s/ Paul Goldean
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Paul Goldean
Chief Administrative Officer
Dated: March 12, 2008
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