RSA Insurance Group Announces Share Buyback

RSA Insurance Group (GB:RSAB) has released an update.

RSA Insurance Group is inviting holders of its £125 million 7.375% cumulative irredeable preference shares to tender their shares for a cash purchase, offering a premium over the market price. Alongside the tender offer, the company plans to hold a general meeting to vote on resolutions for capital reduction which, if approved, will lead to the cancellation of all preference shares and their delisting from the London Stock Exchange. Shareholders participating in the offer or vote may also receive an additional voting fee.

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