Ad hoc announcement pursuant to Section 15 of the Securities Trading Act (WpHG)
Successful capital increase
Hannover, 12 June 2003:
Today, 9,716,392 Hannover Re shares were successfully sold by
Dresdner Kleinwort Wasserstein. The new shares from a capital
increase against cash from authorized capital were offered to
institutional investors in Europe and the U.S. in a private
placement by means of an accelerated bookbuilding. The shares
were allocated at a price of EUR 22.60 per share.
Hannover Re receives issue proceeds amounting to c. EUR 220
million before provisions and expenses.
This placement is part of a combined transaction of a capital
increase against cash and a capital increase against
contribution in kind. In the context of the capital increase
against contribution in kind, Talanx AG will contribute its
shares in HDI Reinsurance Ireland Ltd. into Hannover Re
effective 1 July 2003 against issuance of 13,716,814 new
shares. Thus, Hannover Re will acquire the Irish reinsurance
activities of HDI Haftpflichtverband der Deutschen Industrie
V.a.G. (HDI), Hannover, held in HDI Reinsurance Ireland, Ltd.
Contact: Roland Vogel (Phone.: +49/ 511/ 56 04-12 00, Fax:
+49/ 511/ 56 04-68 92, E-Mail: mailto:roland.vogel@hannover-re.com).
This ad-hoc release is not an offer of securities for sale
or a solicitation of an offer to purchase securities in the
United States. The shares in Hannover
Rückversicherungs-Aktiengesellschaft (the
"Shares") may not be offered or sold in the United
States or to or for the account or benefit of U.S. persons (as
such term is defined in Regulation S under the U.S. Securities
Act of 1933, as amended (the "Securities Act"))
unless registered under the Securities Act or pursuant to an
exemption from such registration. The Shares have not been and
will not be registered under the Securities Act.
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