MUNICH RE
DGAP Post-admission Duties announcement: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Disclosure according to Section 2 para. 1 of Regulation (EU) No. 2016/1052 Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München WKN 843002 Disclosure according to Section 2 para. 1 of Regulation (EU) No. 2016/1052 The Board of Management of Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München ('Munich Re') resolved on 19 March 2019 that own Munich Re shares (ISIN DE0008430026) will be acquired for a maximum total purchase price (excluding incidental expenses) of EUR 1 billion via the stock exchange in the period between 2 May 2019 and, at the latest, the Annual General Meeting on 29 April 2020. The Board of Management is thus availing itself of the authorisation to buy back shares granted by the Annual General Meeting on 25 April 2018. 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 EUR 360,000,000 will be carried out in the period between 23 May 2019 and 28 August 2019 at the latest at the conditions stated below. The buy-back will be carried out in accordance with Articles 5, 14 and 15 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), with the exception of Article 2 para. 1 a) of Regulation (EU) 2016/1052. The buy-back may be carried out on behalf of and for the account of Munich Re using one or more independent 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 Annual General Meeting authorisation of 25 April 2018. 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. The Board of Management may stop the share buy-back programme and - subject to the insider trading rules of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 - resume it at any time. In particular, the banks are obliged to observe the trading conditions of Article 3 of Regulation (EU) 2016/1052 and the conditions of this share buy-back programme. The own shares acquired may be used for all legally admissible purposes authorised by the Annual General Meeting on 25 April 2018. The transactions will be published according to EU Regulation 2016/1052; Munich Re will provide regular information on the progress of the share buy-back programme at www.munichre.com. Munich, 22 May 2019 The Board of Management
22.05.2019 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 |
| End of News | DGAP News Service |
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