Exor to Cancel Repurchased Shares
23 December 2022 - 4:16AM
Exor to Cancel Repurchased Shares
EXOR N.V. (AMS: EXO) (“Exor”) today starts the
process of the implementation of the Board resolution to cancel
7,007,464 ordinary shares or just under 3% of Exor's ordinary
issued share capital.
These ordinary shares have been acquired as part
of the share buyback program which started on 14 November 2018 and
completed on 6 November 2020 (for a total of 5,483,361 ordinary
shares) and the first tranche of the share buyback program which
started on 8 March 2022 and completed on 20 June 2022 (for a total
of 1,524,103 ordinary shares).
The cancellation of these ordinary shares, which
is in line with the intention announced at the launch of the
buyback program, will be conducted in the framework of the
resolution adopted by the Annual General Meeting of Shareholders
held on 24 May 2022.
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 2023.
The cancellation is expected to bring the total
number of ordinary shares in the share capital of Exor to
233,992,536.
- Exor Press Release - Exor to cancel repurchased shares vf
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