Execution of an amendment to the share repurchase agreement dated February 23, 2024, in relation to AXA's share buy-back program

AXA today announced an amendment to the share repurchase agreement with an investment services provider, initially executed on February 23, 2024, to increase by Euro 0.2 billion the maximum amount of its own shares that AXA will buy back*. The amendment also extends the end of the purchase period from August 5 to August 30, 2024.

This amendment reflects the Euro 0.2 billion anti-dilutive share buyback, relating to the execution of the reinsurance agreement between AXA Life Europe** and New Reinsurance Company***, as announced on May 2, 2024****.

The share buyback transaction will be performed in accordance with the terms of the applicable Shareholders' Annual General Meeting authorization*****.

On each day during the purchase period, the price per share to be paid by AXA****** will be determined on the basis of the volume-weighted average share price.

AXA intends to cancel all shares repurchased pursuant to this share buy-back program.

* To Euro 1.8 billion.

** AXA Life Europe, an Irish entity, manages a portfolio of variable annuity products primarily sold in Germany. It has been closed to new business since 2017.

*** New Reinsurance Company Ltd, a Swiss entity, is a subsidiary of Munich Re and a member of the Munich Re Group.

**** Press Release 'AXA announces the termination of the sale of a closed life and pensions portfolio at AXA Germany, and that AXA Life Europe has entered into a reinsurance agreement for an in-force Savings portfolio' is available on AXA.com/en/press/press-releases.

***** The Shareholders' Annual General Meeting authorization granted on April 27, 2023, or on April 23, 2024, as applicable.

****** The purchase price will not exceed the maximum purchase price approved at the applicable Shareholders' Annual General Meeting.

Attachments

• Original Link
• Permalink

Disclaimer

AXA SA published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2024 16:45:24 UTC.