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Here we would like to provide you with answers to some of the most frequently asked questions concerning the Hannover Re share:
- How many shares are there and how are they structured?
- What is the breakdown of Hannover Re's shareholder structure?
- On which stock exchanges is the Hannover Re share listed?
- What are the stock exchange IDs of the Hannover Re share?
- Who handles the Hannover Re ADR program in the USA?
- Is it possible to purchase shares directly from Hannover Re?
- What is Hannover Re's dividend policy?
The share structure of Hannover Re consists – effective 1 July 2003 – of 120,597,134 no-par-value registered shares with unrestricted transferability which are listed under the security identification number 840 221, ISIN DE 000 840 221 5. All shares are fully paid and listed on the stock exchange. Shareholders are not entitled to evidencing of their shares.
The complete changeover to registered shares and the harmonisation of all Hannover Re shares under the aforementioned security identification number took place on 16 October 2000. In July 2002 a share split in a ratio of 3-for-1 was implemented.
With our combined capital increase for cash and contribution in kind implemented on 12 June 2003, the number of shares in 2003 developed as follows:
97,163,928 shares up to and including 12 June 2003, 106,880,320 from 12 June 2003 onwards (9,716,392 shares from the capital increase for cash) and 120,597,134 with retroactive effect as at 01 July 2003 (13,716,814 from the capital increase for contribution in kind).
The calculation of the earnings per share of EUR 1.65 as at 30.06.2003 is thus based on the weighted number of shares of 98,135,567.2. The weighted number of shares of 109,366,351 is used to calculate our target earnings per share as at the end of the 2003 financial year. With a forecast profit of EUR 320 to 350 million this produces a target corridor of between EUR 2.90 and EUR 3.20.
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2. What is the breakdown of Hannover Re's shareholder structure?
The majority shareholder of Hannover Re is Talanx AG, a wholly owned subsidiary of HDI V.a.G. As at July 1, 2003, Talanx AG held 71.8% of the share capital of Hannover Re; the remaining 28.2% is widely spread.
TThe shareholder structure within the scattered holdings is broadly diversified. As at December 31, 2003 74% of the free float was held by corporate entities; 26% was therefore held by natural persons. The regional breakdown of the free float was as follows:
| Germany: | 45% |
| Great Britain: | 20% |
| USA: | 18% |
| Belgium: | 6% |
| Switzerland: | 6% |
| Luxembourg: | 2% |
| 72 other countries: | 3% |
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3. On which stock exchanges is the Hannover Re share listed?
The Hannover Re share is traded under the security identification number 840 221, ISIN 000 840 221 5 on all German stock exchanges (including in Frankfurt and Hannover in official trading) and in Xetra.
In addition, Hannover Re trades its shares in the USA in the form of American Depositary Receipts (ADR Level 1 Program). Morgan Guaranty Trust is acting as the depositary bank handling the ADR dealing through the "over-the-counter" (OTC) market.
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4. What are the stock exchange IDs of the Hannover Re share?
Share (security identification number: 840 221)
| ISIN: | DE0008402215 |
| Reuters: | HNRGn.DE |
| HNRGn.F | |
| Bloomberg: | HNR1 GY |
| Investdata: | HNR |
| ADR: | HVRRY |
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5. Who handles the Hannover Re ADR program in the USA?
Morgan Guaranty Trust is acting as the depositary bank handling the ADR (Level 1) dealing through the "over-the-counter" (OTC) market.
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6. Is it possible to purchase shares directly from Hannover Re?
At present it is not possible to deal directly with Hannover Re when buying or selling shares. Please contact your bank in this regard.
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7. What is Hannover Re's dividend policy?
As a German corporation, Hannover Re pays its dividend in EUR. The dividend is payable on the next working day following the Annual General Meeting.
As part of its Shareholder Value policy, Hannover Re has set itself the goal of paying its shareholders an attractive dividend. In concrete terms, this means that in recent years - as far as was advantageous and possible in the light of tax considerations - we distributed the entire net profit of Hannover Rückversicherung AG (parent company) in the form of a dividend payment.
In 2003, for example, we paid a gross dividend for the 2002 financial year of EUR 0.85*. On the basis of the share price from 31 December, 2002, this corresponded to a dividend yield of almost 4%.
* Figures have been adjusted to the 3-for-1 share split in July 2002.
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