Nicolas Saverys decided to voluntarily reopen the bid to takeover Exmar.
The second acceptance period of the public takeover bid on Exmar NV launches today until Friday 15 September 2023.
Saverex NV, the holding company of the family of Nicolas Saverys, which is active in the international shipping industry, currently holds a total of 44,234,979 shares in Exmar, representing 74.35% of the outstanding shares in the company.
The main activity and the main asset of Saverex is its shareholding in Exmar, a Euronext Brussels-listed company operating worldwide primarily involved in LNG, Offshore and LPG supply chain solutions.
Taking into account the shares in Exmar held by Nicolas Saverys (7,924 shares) and by Exmar (2,026,013 shares), Saverex NV and its affiliates together hold 46,268,916 shares, representing 77.76% of the outstanding shares in Exmar.
The shareholders who have not yet accepted the bid will be able to accept the bid during this second acceptance period. The payment of the bid price for the shares offered during the second acceptance period is scheduled for Monday 2 October 2023.
Saverys initially offered amounts to €12.10 per share, minus the dividend of €1.00 per share which has been paid on 24 May 2023, resulting in a price of €11.10 per share.
Saverex NV said it believes “that this bid price adequately reflects the fair value of the Exmar, as confirmed in the prospectus and by selling shareholders in the first acceptance period,” and therefore it has decided not to increase the bid price.
Since the announcement of the results of the initial acceptance period, the Exmar share has traded slightly above the bid price, and Saverex said it believes that “this increase of the share price may be caused by market speculation regarding a potential increase of the bid price.”
