Munich Re continues share buy-backs
2010/05/07
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Munich Re intends to buy back up to 15 million shares for a maximum purchase price of €1bn by the 2011 Annual General Meeting.
On the basis of the authorisation granted by the Annual General Meeting on 28 April 2010, Munich Reinsurance Company’s Board of Management has resolved to buy back up to 15 million shares for a maximum total purchase price of €1bn (excluding incidental expenses) in the period between 7 May 2010 and, at the latest, the next Annual General Meeting on 20 April 2011. On the basis of the current share price (status: 5 May 2010), this would amount to around 5% of the share capital. The repurchased shares are to be retired in order to optimise the Company’s capital structure.
Munich, 7 May 2010
Münchener Rückversicherungs-Gesellschaft
Aktiengesellschaft in München
Königinstraße 107
80802 München
Germany
Münchener Rückversicherungs-Gesellschaft
Aktiengesellschaft in München
Königinstraße 107
80802 München
Germany
Disclaimer:
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.
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.