Exor Press Release - Exor to cancel repurchased shares
22 November 2023 - 7:12PM
Exor Press Release - Exor to cancel repurchased shares
Amsterdam, 22 November 2023
EXOR TO CANCEL REPURCHASED
SHARES
EXOR N.V. (AMS: EXO) (“Exor) starts today the
process of the implementation of the Board resolution to cancel
13,008,289 ordinary shares or 5.6% of Exor's ordinary issued share
capital.
These ordinary shares have been acquired as part
of the Tender Offer completed on 12 October 2023 (for a total of
8,873,452 ordinary shares) and the share buyback program announced
in 2022 (for a total of 4,134,837 ordinary shares).
The cancellation of these ordinary shares, which
is in line with the intention announced at the launch of the €1bn
new share buyback program, will be conducted in the framework of
the resolution adopted by the Annual General Meeting of
Shareholders held on 31 May 2023.
Pursuant to the relevant statutory provisions
and the articles of association of Exor, cancellation may not be
effected earlier than two months after the resolution to cancel
shares has been publicly announced and the capital reduction
procedure has been completed. Cancellation is expected to be
completed in the first half of 2024.
The cancellation is expected to bring the total
number of ordinary shares in the share capital of Exor to
220,984,247.
- Exor Press Release - Exor to cancel repurchased shares
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