SHARE BUYBACK TO CONTINUE WITH A SECOND TRANCHE OF UP TO €250 M
Exor (“Exor” or the “Company”) announces that its Board of Directors approved today the transfer of the listing of the Company’s ordinary shares (ISIN NL0012059018) to Euronext Amsterdam, which hosts some of Europe’s leading corporations.
The move will align the Company’s listing venue with its established legal structure as a Dutch registered holding company. This further simplification of Exor’s organisational structure will result in the Company being overseen by a single country regulatory authority, namely the Dutch Authority for the Financial Markets (AFM).
The move is subject to the approval of the listing prospectus by the AFM and the admission to listing and trading by Euronext Amsterdam. The listing and trading on Euronext Amsterdam are expected to become effective by mid-August. Further information on the listing and the delisting processes will be made available pursuant to the applicable laws and regulations.
Upon admission to listing and trading on Euronext Amsterdam, the Company will request the delisting of its ordinary shares from Euronext Milan which will become effective not earlier than 45 calendar days thereafter in accordance with the applicable Borsa Italiana rules. During the delisting process, Exor’s ordinary shares will continue to be listed on Euronext Milan and will also be listed on Euronext Amsterdam.
Exor also announces its intention to continue with the execution of its ordinary share buyback program (“the Program”) already announced on 8 March 2022 with a second tranche of up to €250 million (“second tranche”) to be executed on Euronext Amsterdam and Euronext Milan. The shares repurchased under the second tranche may be used to meet the obligations arising from the Company’s new equity incentive plan 2022-2024. The second tranche will be conducted in the framework of the resolution adopted by the Annual General Meeting of Shareholders (“AGM”) held on 24 May 2022.