Exor NV (EXO) EUR0.01

What is happening?

Exor NV wants to return up to EUR570 million to shareholders. To do this the company is offering to buy its shares at a price based on the average market price at which the shares trade (known as the volume-weighted average price or ‘VWAP’).

If you don’t want to sell your shares, you don't need to do anything. You’ll keep your existing shares.

Please see below for a breakdown of the tender offer:

• The eventual purchase price will be based on an average trading price of the shares during the period from 27 March 2025 to 17 April 2025. This is known as the volume-weighted average price (VWAP). The minimum price will be this average price less 3% and the maximum price will be this average price plus 10%, subject to a limit of EUR98.73 per share.

• The eventual purchase price will be the lowest price within the range at which the company can accept tenders totalling up to EUR570 million.

• You can ask to sell (tender) some or all of your shares at a price within a specified range. The minimum price is a discount of 3% of the VWAP (VWAP minus 3%), the maximum price is a premium of 10% over the VWAP (VWAP plus 10%). You must elect in increments of 1%, e.g. VWAP minus 3%, VWAP minus 2%, VWAP minus 1%, VWAP, VWAP plus 1%, etc.). Alternatively you can ask to tender at the eventual purchase price, which will be determined on completion of the offer.

• The company has been publishing the latest indicative VWAP and indicative price at each point in the range at https://exor.com/pages/investors-media/shareholders-corner/share-buyback.

• If you tender your shares at a price higher than the purchase price your instruction will be rejected and your shares will be returned to you.

• If you tender your shares at a price less than or equal to the eventual purchase price, you’ll receive the purchase price for any shares successfully sold. However, depending on the total number of elections, you may not sell all of the shares you ask to tender. As your shares are held with Hargreaves Lansdown scaling back of excess elections may not be on the same terms as those announced by the company.

• Any proceeds will be converted to Sterling upon receipt subject to the prevailing exchange rate at that time and our standard currency conversion fees. 

Tender shares – Act by 12pm on Thursday 17 April 2025

If you are specifying the price you wish to tender at, please ensure you add your price into the further details box provided. For example, please add ‘VWAP Minus 2%’ to tender at a 2% discount or ‘VWAP Plus 2%’ to tender at a 2% premium etc. 

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.