Euronext N.v. Has Received the Relevant Regulatory Approvals for the Commencement of the Acceptance Period of the Voluntary Share Exchange Offer for the Ordinary Registered Shares of Hellenic Exchanges-Athens Stock Exchange

Core Points - Euronext N.V. has received regulatory approvals to commence a voluntary share exchange offer for Hellenic Exchanges-Athens Stock Exchange S.A. shares, with the acceptance period starting on October 6, 2025, and ending on November 17, 2025 [2][3]. Regulatory Approvals - Euronext received a declaration of non-objection from foreign authorities on October 2, 2025, and approval from the Hellenic Capital Market Commission (HCMC) for the information circular on October 3, 2025 [3]. Acceptance Period - The acceptance period for ATHEX shareholders to submit their acceptance of the tender offer begins on October 6, 2025, at 08:00 AM (Greek time) and ends on November 17, 2025, at 02:00 PM (Greek time) [6][7]. Tender Offer Details - Euronext offers a ratio of 0.050 consideration shares for each ATHEX share tendered, with the nominal value of the consideration shares being €1.60 [2][12]. - The offer is subject to the condition that at least 38,759,500 ATHEX shares, representing at least 67% of ATHEX's total voting rights, must be tendered [22]. Consideration and Payment - The cash consideration for shareholders opting for the right of squeeze-out or right to sell-out is set at €5.98 per ATHEX share, which exceeds the volume-weighted average trading price (VWAP) of €5.9770 during the six months preceding the tender offer [26]. Timeline of Events - Key dates include the announcement of the tender offer results on November 19, 2025, and the commencement of trading of the consideration shares on November 24, 2025 [5][21]. Rights of Shareholders - If Euronext holds at least 90% of ATHEX shares by the end of the acceptance period, it will initiate a squeeze-out procedure, allowing remaining shareholders to sell their shares [25].