Exor N.V. (“Exor” or the “Company”) announces the launch of a tender offer to purchase ordinary shares with a nominal value of EUR 0.01 each in the share capital of Exor N.V. (each an “Ordinary Share”, and together the “Ordinary Shares”), executed via a reverse “Dutch auction”, for an aggregate consideration up to (and including) €750 million to Qualifying Shareholders (as defined below) (the “Tender Offer”).
The Tender Offer will be carried out as part of the up to (and including) €1 billion share buyback program
approved by Exor’s Board of Directors today and is announced together with its half-year 2023 results. The share buyback program is to be completed in the next 12 months. Exor’s Board of Directors believes that the current value of Exor provides an attractive opportunity to invest in its own companies through buying back shares. The Tender Offer allows to acquire shares in a short time frame and undertake an effective and efficient share buyback program.
The Tender Offer will be conducted within the framework of the authorization of the Board of Directors to
repurchase shares granted by the Exor annual general meeting of shareholders held on 31 May 2023 (the “AGM authorization”). Exor plans to start the cancellation process of the purchased Ordinary Shares after the settlement of the Tender Offer.