MURGY yesterdays News / PRESS RELEASE: Munich Re To Resume Share Buy-Back Programme
Date : 10/01/2009 @ 3:17AM
Source : Dow Jones News
Stock : Muenchener Rueckversicherungs-Gesellschaft AG (MURGY)
Quote : 16.05 0.16 (1.01%) @ 11:45AM
PRESS RELEASE: Munich Re To Resume Share Buy-Back Programme
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen / Corporate Action/Share Buyback
01.10.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Munich Re intends to resume its suspended share buy-back programme and
repurchase shares with a volume of up to EUR1bn by the 2010 Annual General
Meeting. The buy-back is scheduled to start shortly.
Munich Reinsurance Company's Board of Management today resolved, on the
basis of the authorisation granted by the Annual General Meeting, that the
Company will buy back shares for a total purchase price of up to EUR1bn in
the period from 1October 2009 until the Annual General meeting on 28 April
2010 at the latest. Based on the current share price (as at 30 September
2009), this would amount to around 9.2 million shares or 4.7% of the share
capital. The repurchased shares are to be retired in order to optimise the
Company's capital structure.
Since November 2006, Munich Re has carried out share buy-backs with a total
volume of EUR4bn, including EUR1bn in 2006/2007. In May 2007, it announced
share buy-backs of more than EUR5bn. Of this amount, share buy-backs
totalling EUR3bn have already been completed: EUR2bn in 2007/2008 and
EUR1bn in 2008/2009.
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Information and Explaination of the Issuer to this News:
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.
01.10.2009 Financial News transmitted by DGAP
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Language: English
Company: Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
Koeniginstraße 107
80802 Muenchen
Deutschland
Phone: +49(0) 89 3891-0
Fax: +49(0) 89 399 056
E-mail: shareholder@munichre.com
Internet: www.munichre.com
ISIN: DE0008430026, DE0008430026
WKN: 843002, 843002
Indices: DAX, EURO STOXX 50
Listed: Regulierter Markt in Frankfurt (Prime Standard), Muenchen;
Freiverkehr in Berlin, Duesseldorf, Hannover, Stuttgart,
Hamburg; Terminboerse EUREX; Foreign Exchange(s) Mailand
End of News DGAP News-Service
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