Swiss Re announces that 97.9% of shares were tendered
08 June 2011, Zurich
At the end of the additional acceptance period on 7 June 2011, 16.00 CEST, 97.9% of shares in Swiss Reinsurance Company Ltd (“SRZ”) are held by Swiss Re Ltd (“SRL”).
The SRL shares started trading on the SIX Swiss Exchange on 23 May 2011 with the ticker symbol SREN. In line with legal requirements and section B7 of the exchange offer prospectus, an additional acceptance period was provided from 24 May to 7 June 2011.
97.9% of SRZ shares are held by SRL after additional acceptance period
At the end of the additional acceptance period, the number of SRZ shares tendered, together with the SRZ shares already held by SRL and SRZ, amounted to 362’973’739 SRZ shares, corresponding to 97.9% of the currently outstanding SRZ shares.
Shares exchanged during additional acceptance period will start trading on 14 June
SRZ shares tendered during the additional acceptance period will be exchanged against newly issued SRL shares on 10 June 2011. The first day of trading for these newly issued SRL shares on the SIX Swiss Exchange will be 14 June 2011.
Notes to editors
Swiss Re Ltd
Effective 20 May 2011, Swiss Re Ltd is the holding company of the Swiss Re group of companies.
Swiss Reinsurance Company Ltd
Swiss Reinsurance Company Ltd is a leading and highly diversified global reinsurer and part of the Swiss Re group of companies. The company operates through offices in more than 20 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company’s traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Reinsurance Company Ltd is rated “A+“ by Standard & Poor’s, “A1” by Moody’s and “A” by A.M. Best.
This release is not an offer of securities for sale, or the solicitation of an offer to acquire securities, in any jurisdiction, including the United States. The shares of Swiss Re Ltd have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under the securities law of any state or other jurisdiction of the United States and may not be offered, sold, resold or delivered, directly or indirectly, in or into the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
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