DGAP-Adhoc: Munich Re resolves share buy-back
DGAP-Ad-hoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Key word(s): Corporate Action/Share Buyback
Munich Re resolves share buy-back
26-Feb-2020 / 13:17 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
In the period commencing after the 2020 Annual General Meeting and extending up to the 2021 Annual General Meeting, Munich Re intends to buy back shares for a maximum purchase price of €1bn.
On the basis of the authorisation granted by the Annual General Meeting on 25 April 2018, or a future authorisation, the Board of Management of Munich Reinsurance Company, with the approval of the Supervisory Board acting through its Standing Committee, has resolved to buy back shares for a maximum total purchase price of €1bn (excluding incidental expenses) in the period between 30 April 2020 and, at the latest, the Annual General Meeting on 28 April 2021. On the basis of the current share price (as at 25 February 2020), this would amount to around 2.7% of the share capital and would correspond to around 3.9m shares.
Contact:
General Counsel & Group Chief Compliance Officer
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984029 26-Feb-2020 CET/CEST