Ad hoc

HEAD NV Announces a General Meeting in relation to Head's Listing on the Vienna Stock Exchange and an Unconditional Offer to Buy Back Shares

Head N.V. / Ad hoc: HEAD NV Announces a General Meeting in relation to Head's Listing on the Vienna Stock Exchange and an Unconditional Offer to Buy Back Shares . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

NOT TO BE RELEASED IN USA, CANADA, JAPAN OR AUSTRALIA

Amsterdam - 9^th October 2014 - Head NV (VSX: HEAD; U.S. OTC:HEDYY.PK) ("Head" or "Company"), a leading global manufacturer and marketer of sports equipment, today calls a general meeting of shareholders in relation to Company's listing on the Vienna Stock Exchange ("VSE") and announces an Unconditional Offer to buy back Shares in Head at €1.60 per Share (the "Offer").

Head has been informed by the VSE that the registered share capital of Head is below the statutory requirement of the Stock Exchange Act and that the listing has to be withdrawn if one of the listing requirements falls away subsequent to the listing unless cured by the issuer.

The Company is given until the end of the year to increase its registered (i.e. nominal) share capital in order to comply with the listing requirements.

The Company can increase the registered share capital at the expense of the reserves of the Company by an amendment of the articles of association of the Company. This requires a majority vote by the shareholders. The Company will propose this resolution at a general meeting of shareholders on the 3^rd December 2014.

However, as there is no certainty as to the outcome of this shareholder vote (with the delisting from the VSE being a potential consequence) Head simultaneously announces an Offer to buy back Shares in Head at a price above the recent average trading price on the VSE in order to offer its shareholders the ability to exit their investment notwithstanding the likely impact on the share price of a further decrease in liquidity of the Company's Shares on, and/or an entire delisting from, the VSE. 

The Offer is made irrespective whether the VSE delists Head or not. There can be no assurance as to VSE's future actions. The purpose of the Offer is to enable shareholders to sell their Shares in the absence of a substantial exit opportunity via the VSE.

The Offer price represents a premium of 23% to the share price of 8^th October 2014. The Offer will commence on the 10^th October 2014, and expires at 5pm CET on the 31^st October 2014, and will not be extended or amended by Head.

The Depositary Bank will forward the Declarations of Acceptances for the Offer to the Paying and Receiving Agent no later than 5^th November 2014, 4pm CET.