Brief: UNIQA Expects To Pay Investors EUR 59 Mln Fee Following Finance Life Claims

UNIQA Insurance AG

21/12/2023 11:09

Dec 21 (Reuters) - Uniqa Insurance Group Ag  UNIQ.VI :
    * COMPLAINT FOR DAMAGES RESULTING FROM INFINUS INVESTOR
CLAIMS
AGAINST UNIQA ÖSTERREICH / TERM SHEET ON KEY ELEMENTS OF
OUT-OF-COURT SOLUTION WITH KEY INVESTOR GROUPS
    * TERM SHEET WILL BE SIGNED TODAY WITH REPRESENTATIVES OF
THOSE
INVESTOR GROUPS COORDINATED AMONG THEMSELVES
    * BASED ON CURRENT ESTIMATES OF UNIQA, THIS IS NOT EXPECTED
TO
HAVE A MATERIAL ADVERSE EFFECT ON OVERALL RESULT FOR 2023
FINANCIAL YEAR
    * TERM SHEET REFLECTS AGREEMENT ON KEY ELEMENTS OF A
POSSIBLE
OUT-OF-COURT SOLUTION TERM SHEET WHICH REFLECTS AGREEMENT ON KEY
ELEMENTS OF A POSSIBLE OUT-OF-COURT SOLUTION
    * UNIQA ÖSTERREICH WOULD UNDERTAKE TO PAY TO INVESTORS
BELONGING
TO THESE GROUPS AN AMOUNT OF UP TO EUR 59,320,000.00, EXACT
DETERMINATION AND DUE DATE OF WHICH STILL DEPEND ON CERTAIN
PERIMETER
    * AGREEMENT REQUIRES APPROVAL BY RELEVANT CLAIMANTS WITH A
QUOTA
OF 90 % IN ORDER TO BECOME EFFECTIVE.

Source text for Eikon:  ID:nEQ8bVR5Ba 
Further company coverage:  UNIQ.VI 

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