DGAP-Adhoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re resolves share buy-back
DGAP-Ad-hoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Key word(s): Share Buyback
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re resolves share buy-back
22-Feb-2022 / 13:25 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 between completion of the 2022 Annual General Meeting and the 2023 Annual General Meeting, Munich Re intends to buy back shares for a maximum value of €1bn.
On the basis of the authorisation granted by the Annual General Meeting on 29 April 2020 or a future authorisation, and with the approval of the Supervisory Board, represented by the Standing Committee, Munich Reinsurance Company's Board of Management has resolved to buy back shares for a maximum total value of €1bn (excluding incidental expenses) in the period between 29 April 2022 and, at the latest, the Annual General Meeting on 5 May 2023. On the basis of the current share price (status: 21 February 2022), this would amount to around 2.8% of the share capital and correspond to 3.9 million own shares. The repurchased shares are to be retired. Together with the Board of Management's dividend proposal to the Annual General Meeting of €11 per share, Munich Re's capital repatriation thus totals €2.5bn.
Contact:
Dr. Stefan Gehring
General Counsel & Group Chief Compliance Officer
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