Munich Re resolves share buyback
07:28 AM CET 2018/03/15
In the period commencing after the 2018 Annual General Meeting and extending up to the 2019 Annual General Meeting, Munich Re intends to buy back up to 11 million shares for a maximum purchase price of €1bn.
On the basis of the authorisation granted by the Annual General Meeting on 26 April 2017 or a future authorisation, Munich Reinsurance Company’s Board of Management has resolved to buy back up to 11 million shares for a maximum total purchase price of €1bn (excluding incidental expenses) in the period between 25 April 2018 and, at the latest, the Annual General Meeting on 30 April 2019. On the basis of the current share price (status: 14 March 2018), this would amount to around 3.5% of the share capital and would correspond to around 5.5 million shares. The own shares acquired under the 2017/2018 share buyback program in the period from 1 June 2017 to no later than the Company's Annual General Meeting on 25 April 2018 are to be retired.
Aktiengesellschaft in München
This press release 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.