Significant events

Significant events in the third quarter 2012 and significant subsequent events

Investment in Almacantar

On August 3, 2012, EXOR S.A. paid £5.5 million (€6.9 million) to Almacantar against the residual amount due on Almacantar S.A.’s capital increase that was fully subscribed in 2011 but not yet completely paid.

Purchase of Arenella hotel property

On October 10, 2012, under agreements concerning the disposal of the Alpitour Group, EXOR finalized the purchase of the Arenella hotel property for an equivalent amount of €26 million. The purchase did not require a cash outlay since the equivalent amount of the purchase was compensated by a financial receivable of the same amount (deferred price component relating to the disposal of Alpitour) due to EXOR from the tour operator. Further details on the sale of Alpitour are provided under “Significant events in the first half and subsequent events” in the Half-year Financial Report 2012.

EXOR bond issue

On October 16, 2012, of the total amount of €1 billion approved by the board of directors in its meeting held on April 6, 2012, EXOR completed the issue of non-convertible bonds for an amount of €150 million, maturing October 16, 2019, in a private placement to qualified institutional investors.
The purpose of the issue is to raise new funds for EXOR’s general corporate purposes and in order to extend the maturity of its debt.
The bonds, that pay a fixed annual coupon of 4.750% (effective yield to maturity is 5.073%), have been assigned a rating of BBB+ by Standard & Poor’s.

Criminal case relative to the contents of the press releases issued by IFIL and Giovanni Agnelli e C. on August 24, 2005

The acquittal judgment reached by the Court of Turin on December 21, 2010 with respect to the defendants Gianluigi Gabetti, Franzo Grande Stevens, Virgilio Marrone and the companies IFIL (now EXOR) and Giovanni Agnelli e C., was opposed by the Public Prosecutor’s Office of Turin, by act of notification to the Company on June 3, 2011, and an appeal was lodged with the Supreme Court, inter alia. In the ruling handed down after the hearing on June 20, 2012, the Supreme Court partially reversed the Court of Turin’s decision, transferring the case to the Turin Court of Appeals for judgment of the second instance regarding Gianluigi Gabetti, Franzo Grande Stevens and the companies EXOR and Giovanni Agnelli e C., completely acquitting Virgilio Marrone.
On October 15, 2012, the reasons for the Supreme Court judgment were filed. The Company is waiting for the date to be set for the first hearing in the Court of Appeals.

Commercial Register No.64236277 Legal notes | Credits