NU Online News Service, Dec. 4, 2003, 5:07 p.m. EST – Reinsurance Group of America Inc., Chesterfield, Mo., says it has signed an agreement that could help MetLife Inc., New York, and MetLife affiliates register shares of RGA stock for sale to the public.[@@]
MetLife and its affiliates now own more than half of RGA’s stock.
Under the new agreement, RGA must register MetLife’s RGA securities for sale to the public within 30 days of MetLife making the request, according to a report that RGA has filed with the U.S. Securities and Exchange Commission.
MetLife can ask for up to 6 “demand registrations, RGA says.
The requirement applies as long as MetLife and its affiliates own at least 10% of RGA’s stock.
The agreement also gives MetLife and its affiliates the right to “piggyback” onto any efforts by RGA to register RGA securities for sale to the public, as long as MetLife and the affiliates own at least 5% of RGA’s stock. But the underwriters of any such offering will have the right to limit the number of RGA shares to be included in the registration, RGA says.