Summary
This 8-K filing from Ace Limited (now Chubb Ltd after its merger with Chubb) on March 31, 2015, primarily details an amendment to its Articles of Association. This amendment was made to implement the fourth and final installment of a par value reduction, approved by shareholders at the 2014 annual general meeting. This par value reduction functions as a dividend payment to shareholders. The specific amount of the fourth installment was fixed at CHF 0.62 per share, translating to approximately USD 0.65, based on the prevailing exchange rate at the time of the adjustment.
Key Highlights
- 1Ace Limited amended its Articles of Association on March 31, 2015.
- 2The amendment effectuated a par value reduction of CHF 0.62 per share.
- 3This par value reduction represents the fourth and final installment of a shareholder-approved dividend.
- 4The dividend payment is scheduled for shareholders of record on March 31, 2015, payable on April 21, 2015.
- 5The par value reduction was based on a USD/CHF exchange rate of 0.9661 as of March 24, 2015.
- 6Following the adjustment, the company's par value is CHF 24.15 per share.
- 7The filing includes the amended and restated Articles of Association as an exhibit.