Summary
This 8-K filing from Ace Limited (now Chubb Ltd) on July 27, 2010, reports on amendments to its Articles of Association following shareholder approval at the 2010 annual general meeting. The primary change relates to a dividend distributed through a par value reduction of the company's shares. This par value reduction is structured to be paid in four quarterly installments, with each installment aiming to equate to $0.33 USD. The filing details the mechanics of the first installment, which was fixed at CHF 0.34 based on the prevailing exchange rate. The Articles of Association were formally amended to reflect this par value reduction and to account for new shares issued from conditional capital. These amendments became effective upon their filing with the commercial register in Zurich, Switzerland. Investors should note the precise dividend payment date and record date as specified, and that the par value per share has been reduced to CHF 31.21.
Key Highlights
- 1Shareholder approval received for a dividend paid via par value reduction.
- 2Dividend to be distributed in four quarterly installments, targeting $0.33 USD per share each.
- 3First installment of par value reduction fixed at CHF 0.34.
- 4Articles of Association amended to reflect par value reduction and share capital adjustments.
- 5Amendments became effective upon filing with the Zurich commercial register on July 27, 2010.
- 6Par value per share reduced to CHF 31.21 as of July 27, 2010.
- 7Dividend payment scheduled for August 17, 2010, to shareholders of record on July 27, 2010.