DGAP-CMS: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Disclosure according to Section 4 para. 2 of Regulation (EC) No. 2273/2003

 | Source: EQS Group AG EQS Group AG 

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Disclosure according to Section 4 para. 2 of Regulation (EC) No. 2273/2003 

25.05.2010 08:10 

Dissemination of a Post-admission Duties announcement, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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WKN 843002
ISIN DE0008430026 

The Board of Management of Münchener Rückversicherungs-Gesellschaft
Aktiengesellschaft in München ('Munich Re') resolved on 7 May 2010 that up
to 15,000,000 Munich Re shares (ISIN DE0008430026) will be acquired for a
maximum total purchase price (excluding incidental expenses) of EUR 1 bn
via the stock exchange at the conditions stated below in the period between
7 May 2010 and, at the latest, the Annual General Meeting on 20 April 2011.
The shares may be also be acquired using derivatives in the form of put
options, call options or a combination of both in accordance with the
authorisation granted by the Annual General Meeting on 28 April 2010. The
Company may acquire own shares up to a maximum of 5% of the share capital
at the time of the authorisation (28 April 2010) using options. If shares
are bought back using options, the purchase price to be paid shall be the
option exercise price (excluding incidental expenses).

The Board of Management is thus availing itself of the authorisation to buy
back shares granted by the Annual General Meeting on 28 April 2010.

The purpose of the share buy-back is to retire the repurchased shares in
order to optimise the Company's capital structure.

The buy-back will be carried out in accordance with Section 14 para. 2 and
Section 20 a para. 3 of the German Securities Trading Act in conjunction
with the rules of Commission Regulation (EC) No. 2273/2003 of 22 December
2003 implementing Directive 2003/6/EC of the European Parliament and of the
Council as regards exemptions for buy-back programmes and stabilisation of
financial instruments (hereinafter: EC Regulation 2273/2003). 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 28 April 2010.

The banks will make their decisions regarding the timing of share
acquisitions independently of and without influence by Munich Re, as per
Article 6 para. 3 b) of EC Regulation 2273/2003. 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 the German Securities Trading Act - resume it at
any time.

In particular, the banks are obliged to observe the trading conditions of
Article 5 of EC Regulation 2273/2003 and the conditions of this share
buy-back programme.

Independent of the present share buy-back programme, companies of the
Munich Re Group buy and sell own shares to a minor extent on an ongoing
basis for employee share programmes and to safeguard stock appreciation
rights from the long-term incentive plan for the Board of Management and
top executives. In so doing, they comply with the conditions of the
authorisation granted by the Annual General Meeting on 28 April 2010.

The transactions will be published in accordance with EU Regulation
2273/2003; Munich Re will provide regular information on the progress of
the share buy-back programme at www.munichre.com.

Munich, 25 May 2010

The Board of Management



25.05.2010 08:10 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]

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Language:     English
Company:      Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
              Königinstraße 107
              80802 München
              Deutschland
Internet:     www.munichre.com
 
End of News                                     DGAP News-Service
 
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