Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Release of a capital market information
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
/ Announcement pursuant to Art. 5(1) lit. a) of Regulation (EU) No 596/2014 and Art. 2(1) of Delegated Regulation (EU) 2016/1052
Münchener Rückversicherungs-Gesellschaft WKN 843002 Announcement pursuant to Art. 5(1) lit. a) of Regulation (EU) No 596/2014 and Art. 2(1) of Delegated Regulation (EU) 2016/1052 The buy-back for a maximum total purchase price (excluding incidental expenses) of EUR 1 billion shall be carried out in several tranches. A first tranche with a maximum total purchase price (excluding incidental expenses) of up to €360,000,000 will be carried out in the period between 16 June 2022 and 14 September 2022. Based on the closing price in Xetra-trading on the Frankfurt Stock Exchange on 14 June 2022 of €219.40 this would amount to up to 1.2% of the share capital and correspond to up to 1,640,838 shares. The repurchased shares are to be retired. The buy-back will be carried in accordance with Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 in conjunction with the rules of Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures (hereinafter: Regulation (EU) 2016/1052). The buy- back will be carried out by instructing one or several banks. The banks are obliged to carry out the acquisition of Munich Re shares in keeping with the above-mentioned rules and to comply with the provisions of the authorisation of the Annual General Meeting of 28 April 2022. In particular, the banks are obliged to observe the trading conditions of Article 3 of Regulation (EU) 2016/1052. The banks will make their decisions regarding the timing of share acquisitions independently of and without influence by Munich Re, according to Article 4 para. 2 b) of Regulation (EU) 2016/1052. Munich Re will thus not exercise control over the banks’ decisions in this respect. In accordance with applicable legal requirements, the share bay-back may at any time be terminated, suspended or resumed, as the case may be. Information on the transactions relating to the Share Buy-Back 2022/2023 will be adequately disclosed no later than by the end of the seventh daily market session following the date of execution of such transactions in detailed and aggregated form. In addition, Munich Re will post on its website www.munichre.com the transactions disclosed and keep that information available to the public for at least a 5-year period from the date of public disclosure. Munich, 15 June 2022 The Board of Management
15.06.2022 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München |
Königinstraße 107 | |
80802 München | |
Germany | |
Internet: | www.munichre.com |
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