Munich Re continues share buy-backs
Munich Re intends to buy back up to 13 million shares for a maximum purchase price of €1bn by the 2014 Annual General Meeting.
On the basis of the authorisation granted by the Annual General Meeting on 20 April 2011, Munich Reinsurance Company’s Board of Management has resolved to buy back up to 13 million shares for a maximum total purchase price of €1bn (excluding incidental expenses) in the period between 7 November 2013 and, at the latest, the next Annual General Meeting on 30 April 2014. On the basis of the current share price (status: 6.11.2013), this would amount to around 3,6% of the share capital. The repurchased shares are to be retired in order to optimise the Company’s capital structure.
Aktiengesellschaft in München
This announcement contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.