Zurich Financial Services has completed the share buyback program of CHF1.25 billion ($1.02 billion) announced last February.
Zurich said that as of July 2, 2007, the Company has “bought back 3,432,500 of its registered shares via a second trading line of virt-x and at an average price of CHF 364 [$298] (rounded) per share. The number of repurchased shares reflects 2.36 percent of the share capital issued at the end of June.”
Zurich also indicated that management would “submit a proposal to its shareholders at the Annual General Meeting 2008 to reduce the share capital in the amount of the repurchased shares and to cancel the shares.”
Was this article valuable?
Here are more articles you may enjoy.
Learjet May Have Broken Up Before Fatal Florida Crash, NTSB Says 
Erie CEO NeCastro Steps Down Early; Bolash Named Interim Leader 
FTC, States Allege Toast Software Burns Restaurants and Consumers 
When the Meter Says Wet but the Ceiling Is Dry: A Guide for Adjusters and Inspectors 
