Section 8.01 Other Sections.
The ASR agreements provide that if the public announcement of the first closing of the company’s previously announced sale of its life, casualty and supplemental insurance business in several countries to
Under the terms of the ASR agreements, the
Upon final settlement, in certain circumstances, the dealers may be required to deliver additional common shares of Cigna to the Company, or in other circumstances, Cigna may be required to deliver, at its discretion, either common shares or cash at the Dealerships. Final settlement of the ASR agreements is expected to occur in the fourth quarter of 2022.
ASR agreements contain the customary terms for these types of transactions, including, but not limited to, the mechanisms for determining the number of shares or amount of cash that will be delivered upon final settlement, the time required for delivery of shares, the specific circumstances under which final settlement of transactions may be accelerated or extended or ASR agreements may be terminated early by Cigna or the licensees, and various acknowledgments, representations and warranties made by the Company and the licensees towards each other. The terms of the ASR agreements are subject to adjustment under the ASR agreements if the Company were to enter into or announce certain types of transactions or take certain corporate actions.
Each of the Licensees from time to time provides normal banking, investment banking and/or consulting services for Cigna for which they charge customary fees and expenses.
Item 9.01 Financial statements and supporting documents.
(d) Exhibits Exhibit No. Description
99.1 Press release dated
June 16, 2022.
104 Interactive Cover Page Data File (embedded in XBRL Online).
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