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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): April 14, 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))
Item 8.01. Other Events.
Scottish Re Group Limited (the "Company") has determined that, pursuant to
the Certificate of Designations for its Non-Cumulative Perpetual Preferred
Shares (the "Perpetual Preferred Shares"), it may be precluded from declaring
and paying dividends on the October 15, 2008 dividend payment date. A copy of
the notice sent to the holders of the Perpetual Preferred Shares is attached
hereto as Exhibit 99.1.
The Company is also announcing that, given the Company's current financial
condition, its Board of Directors, in its discretion, has not and will not
declare a cash dividend on the Non-Cumulative Perpetual Preferred Shares for the
April 2008 payment date. The Board of Directors has not yet determined whether
the Company will pay a dividend on the Non-Cumulative Perpetual Preferred Shares
for the July 2008 payment date; however, based upon prevailing market conditions
and the current financial condition of the Company, it currently does not expect
to do so.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits.
99.1 Notice to holders of Perpetual Preferred Shares, dated April 14, 2008.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
SCOTTISH RE GROUP LIMITED
By: /s/ Paul Goldean
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Paul Goldean
Chief Administrative Officer
Dated: April 14, 2008
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INDEX TO EXHIBITS
Number Description
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99.1 Notice to holders of Perpetual Preferred Shares, dated April 14, 2008.
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