Following the initial acceptance period of the voluntary and conditional public takeover bid launched by Saverex NV (the “Bidder”) for all shares and share options issued by Exmar NV (“Exmar” or the “Target”) not already owned by it or persons affiliated with it (the “Bid”), the Bidder currently holds a total of 44,234,979 shares in the Target, representing 74.35% of the outstanding shares in the Target. Taking into account the shares in the Target held by Nicolas Saverys (7,924 shares) and by Exmar (2,026,013 shares), the Bidder and persons affiliated with it together hold 46,268,916 shares, representing 77.76% of the outstanding shares in the Target.

As previously announced, the Bidder decided to voluntarily reopen the Bid without conditions from Monday 28 August 2023 to Friday 15 September 2023 at 16:00 (Belgian time). Shareholders who have not yet accepted the Bid will thus 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.

Since the announcement of the results of the initial acceptance period, the Exmar share has traded slightly above the Bid price. The Bidder is of the opinion that this increase of the share price may be caused by market speculation regarding a potential increase of the Bid price.

The price offered by Saverex amounts to EUR 12.10 per share, minus the dividend of EUR 1.00 per share which has been paid on 24 May 2023, resulting in a price of EUR 11.10 per share. The Bidder believes that this Bid price adequately reflects the fair value of the Target, as confirmed in the prospectus and by selling shareholders in the first acceptance period. In this regard, the Bidder has decided not to increase the Bid price.

The Bidder believes it is important that the market and Exmar shareholders in particular are accurately informed about its intentions. It therefore encourages all parties to rely on official communications from the Bidder and the Target for correct information regarding the ongoing Bid. The Bidder remains committed to open communication and transparency throughout the course of this transaction.
Source: EXMAR