Exor N.V. Launches €125 Million Share Buyback Program to Reduce Capital

Exor N.V. Launches €125 Million Share Buyback Program to Reduce Capital

(IN BRIEF) Exor N.V. has announced the continuation of its share buyback program, originally launched on September 13, 2023, with an additional €125 million allocated for the second tranche, starting August 12, 2024. This follows the completion of the first tranche in July 2024. The buybacks will comply with relevant regulations and be executed through a discretionary agreement with a financial institution. Exor plans to cancel the repurchased shares, pending approvals. Weekly updates on the program’s progress will be provided on the company’s website. Currently, Exor holds 6,124,471 ordinary shares in treasury.

(PRESS RELEASE) AMSTERDAM, 13-Aug-2024 — /EuropaWire/ — Exor N.V. has announced its plans to advance the share buyback program originally disclosed on September 13, 2023, with a remaining budget of up to €250 million aimed at reducing the company’s share capital. Effective August 12, 2024, Exor will initiate the second tranche of this program, allocating up to €125 million for share purchases, which is anticipated to conclude by November 2024 or sooner if the maximum is reached.

This second tranche follows the successful completion of the first tranche, which involved purchases of up to €125 million and concluded on July 1, 2024. Exor’s buybacks will comply with all relevant regulations, including the Market Abuse Regulation and associated guidelines. The transactions will be executed through a discretionary buyback agreement with a designated financial institution, ensuring adherence to safe harbor provisions.

The buyback activities will be conducted under the authority granted by Exor’s shareholders during the annual meeting on May 31, 2023, and reaffirmed on May 28, 2024. The repurchased shares are set to be canceled, pending necessary board and shareholder approvals.

Exor will provide weekly updates on the progress of the share buyback program on its website, in line with regulatory requirements. The company retains the discretion to modify, suspend, or terminate the program at any time, subject to applicable laws. Currently, Exor holds 6,124,471 ordinary shares in treasury.

Media Contact:

Media Relations:
Tel. +31 (0)20 240 2 221
media@exor.com

Investor Relations:
Tel. +31 (0)20 240 2 222
ir@exor.com

SOURCE: Exor N.V.