The initial acceptance period of the takeover bid launched by Saverex NV for all the shares and share options issued by Exmar ended on 6 July 2023.
As Shipping Telegraph reported in April, the family of Nicolas Saverys announced that its holding company Saverex intends to acquire the Belgian-based Exmar NV. The intention was to buy the remaining of the shares in Exmar, as already owns shares in the company.
Saverex sticks to Exmar voluntary and conditional public takeover bid and will have to do it a second time, after 29.14% of the outstanding shares in Exmar were tendered into the bid during the first initial acceptance period.
As a result, Saverex NV and its affiliates would hold 46,268,916 shares, representing 77.76% of the outstanding shares in Exmar, after taking into account the shares in Exmar held by Nicolas Saverys (7,924 shares) and by Exmar (2,026,013 shares).
Exmar said yesterday in a release that “Taking into account the shares in the target (Exmar NV) held by Nicolas Saverys (7,924 shares) and by Exmar (2,026,013 shares), the bidder (Saverex NV) and persons affiliated with it together would hold 46,268,916 shares, representing 77.76% of the outstanding shares in the target (Exmar NV).”
Saverex has decided to waive the 95% acceptance threshold, and has consequently decided to proceed with the bid. The payment of the bid price for the shares offered during the initial acceptance period is scheduled for Thursday 27 July 2023.
Furthermore Saverex has decided to voluntarily reopen the bid on 28 August 2023 to Friday 15 September 2023.
“Shareholders who have not yet accepted the bid will thus be able to accept the Bid during this second acceptance period,” as it is said by Exmar in its release.
It is worth mentioning that Saverex is the holding company of the family of Nicolas Saverys, which is active in the international shipping industry. 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.
Nicolas Saverys, representative of the bidder Saverex NV said: “We are today announcing the results of the initial acceptance period following which Saverex and persons affiliated with it control nearly 78% of the capital of Exmar. We therefore reiterate our invitation to all shareholders to tender their shares during the reopening period of the takeover bid, i.e. between the 28th of August and the 15th of September 2023, as foreseen in the prospectus.”
