Voluntary Public Tender Offer for all ordinary Shares of YNAP – Provisional results of the purchase, obligation pursuant to article 108, Paragraph 2, of TUF
Capitalised words, unless otherwise defined, have the meaning ascribed in the offer document (the “Offer Document”) approved by Consob resolution no. 20335 of 14 March 2018 and published on 18 March 2018, and in the Press Release on the Offer Results published on 17 May 2018.
This compan annoncement ollos the compan annoncement plished on 25 Ma 2018, here Companie Financire Richemont SA Richemont, the Siss lr oods rop, annonced that, at the aove date, RLG Italia Holdin S.p.A. the Oeror had come to hold in the contet o the procedre or the lilment o the Prchase Oliation prsant to Article 108, pararaph 2, o the TUF the Sell-ot Procedre a shareholdin hiher than 5 o the ordinar share capital o YOOX NET-A-PORTER GROUP S.p.A. the Isser or YNAP.
1. END OF THE SELL-OUT PERIOD
ith reerence to the Sell-ot Procedre, hich started on 21 Ma 2018, Richemont annonces that the period areed ith Borsa Italiana S.p.A. Borsa Italiana to smit the Reests or Sale ended toda.
The Sell-ot Procedre as directed to i 4,646,8 YNAP Shares i.e. the YNAP Shares hich ere not tendered drin the Acceptance Period and the YNAP Shares issed YNAP pon eercise o the Stoc Options ater the end o the Acceptance Period and ii the maimm 3,250,14 YNAP Shares that miht e issed pon eercise o the Stoc Options and o the Chane o Control Stoc Options toether, the Remainin YNAP Shares.
2. PROVISIONAL RESULTS OF THE SELL-OUT PROCEDURE
Based on the provisional reslts o the Sell-ot Procedre commnicated Banca IMI S.p.A., in its capacit as Intermediar Appointed to Coordinate the Collection o Acceptances, Reests or Sale or 3,14,06 Remainin YNAP Shares, correspondin to 68.4 o the Remainin YNAP Shares and to 3.328 o YNAP’s ordinar share capital at the end o the Sell-ot Period, have een smitted drin the Sell-ot Period represented 6,008,530 YNAP Shares.
As commnicated to the maret on 25 Ma 2018, on the same date the Oeror prchased 3,144,146 nel issed YNAP Shares, arisin rom the eercise the relevant eneiciaries o their respective Stoc Options and Chane o Control Stoc Options. This as in eection o a series o pt and call areements entered into ith the Oeror each o the relevant eneiciaries.
In liht o the aove, on the Consideration or the Prchase Oliation Pament Date, the Oeror ill come to hold, also throh prchases made otside o the Sell-ot Procedre, 4,466,35 YNAP Shares correspondin to 8.34 o YNAP’s ordinar share capital at the end o the Sellot Period.
3. CONSIDERATION FOR THE FULFILMENT OF THE PURCHASE OBLIGATION PURSUANT TO ARTICLE 108, PARAGRAPH 2, OF THE TUF
The Consideration or the Prchase Oliation, eal to the Consideration i.e. Ero 38.00 per Remainin YNAP Share, ill e paid in cash the Oeror on 15 ne 2018 the Consideration or the Prchase Oliation Pament Date.
The Consideration or the Prchase Oliation ill e paid the Oeror throh the Intermediar Appointed to Coordinate the Collection o Acceptances, to the Appointed Intermediaries that ill transer the nds to the Depositor Intermediaries or creditin to the acconts o their respective cstomers, in accordance ith the instrctions provided the Reestin Shareholders in the Reests or Sale.
The Oeror’s oliation to pa the Consideration or the Prchase Oliation shall e deemed to have een lilled hen the respective consideration has een transerred to the Appointed Intermediaries. The Reestin Shareholders ill ear the entire ris that the Appointed Intermediaries or the Depositor Intermediaries ail to transer sch amonts to the parties entitled thereto or dela sch transers.
At the Prchase Oliation Pament Date, the Remainin YNAP Shares tendered in the Sell-ot Procedre ill e transerred to the Oeror on its secrities accont.
4. PURCHASE OBLIGATION PURSUANT TO ARTICLE 108, PARAGRAPH 1, OF THE TUF AND EXERCISE OF THE SUEEZE-OUT RIGHT
As a conseence o Richemont reachin 5 o YNAP’s ordinar share capital, as indicated in the compan annoncement dated 25 Ma 2018 and in the Oer Docment, the reirements or the eercise o the Seee-ot Riht prsant to Article 111, o the TUF, and o the Prchase Oliation prsant to Article 108, pararaph 1, o the TUF are deemed to e lilled.
Thereore the Oeror ill carr ot the oint Procedre taretin a maimm o 1,558,201 YNAP Shares, and more precisel all the 1,542,13 YNAP Shares still otstandin at the date o this compan annoncement, correspondin to 1.606 o YNAP’s ordinar share capital, provided that the aove provisional reslts are conirmed, and an additional maimm 16,028 YNAP Shares, hich miht e issed to service the Stoc Options toether, the Additional Remainin YNAP Shares.
The consideration or each Additional Remainin YNAP Share to e paid at the end o the oint Procedre ill e eal to the Consideration i.e. Ero 38.00 per Additional Remainin YNAP Share.
On 20 ne 2018, the Oeror, in order to carr ot the oint Procedre, ill conirm to the Isser the deposit o an amont eal to the maimm consideration or the Additional Remainin YNAP Shares the Consideration or the Seee-ot Riht into the escro accont in the name o the Oeror itsel at Intesa Sanpaolo S.p.A. an, and the availailit o sch amont.
On sch date, prsant to Article 111, pararaph 3, o the TUF, the transer o the acired Additional Remainin YNAP Shares ill e eective and conseentl the Isser ill mae the relevant entries in the shareholders’ leder.
Prsant to Article 24 o the Civil Code, ater the epiration o the prescried ive ear term rom the date on hich the Consideration or the Seee-ot Riht has een deposited, the Oeror ill have the riht to otain the repament o the sms deposited as consideration or the Seee-ot Riht hich ill not have een cashed in the entitled shareholders.
As indicated in the compan annoncement dated 25 Ma 2018, and as areed ith Borsa Italiana, the eercise o the oint Procedre ill e completed on 20 ne 2018.
The terms o the oint Procedre ill e conirmed in the compan annoncement, on the inal reslts o the Sell-ot Procedre, de to e plished on 13 ne 2018. In this compan annoncement, the Oeror ill provide inormation, prsant to Article 50-quinquies, pararaph 5, o the Issers’ Relation, on i the inal reslts o the lilment o the Prchase Oliation prsant to Article 108, pararaph 2, o the TUF ii the total shareholdin held in the Isser’s ordinar share capital iii the conirmation o the procedres and terms prsant to hich the Oeror ill carr ot the oint Procedre and the conirmation o the procedres and terms or the Delistin.
Notice is here iven that resoltion no. 8464 o 25 Ma 2018, Borsa Italiana ordered the Delistin rom the Milan Stoc Echane eective as o 20 ne 2018, sspendin the YNAP Shares ISIN CODE IT000354040 rom listin and tradin on 18 and 1 ne 2018, prsant to Article 2.5.1, pararaph 6, o the Stoc Echane Relation.
6. ADDITIONAL INFORMATION
Please note that the Oer Docment as made availale to the plic or consltation i at the reistered oice o the Intermediar Appointed to Coordinate the Collection o Acceptances Banca IMI S.p.A. Milan, Laro Mattioli 3 ii at the reistered oice o the Oeror Milan, Via Benino Crespi 26 iii on the Isser’s esite .nap.com iv on Richemont’s esite .richemont.com/investor-relations/oo-net-a-porter-rop-tender-oer.html and v on the Gloal Inormation Aent’s esite .eoreson.com/it.
The oriinal o this annoncement, in Italian, can e donloaded rom Richemont’s esite at .richemont.com/investor-relations/oo-net-a-porter-rop-tender-oer.html. In the event o inconsistencies ith this Enlish translation, the oriinal Italian version o the annoncement ill prevail and no responsiilit is accepted or the accrac o the translation.