Shareholders overwhelmingly support the creation of two independent companies - Solvay and Syensqo
08 Décembre 2023 - 2:39PM
Shareholders overwhelmingly support the creation of two independent
companies - Solvay and Syensqo
Press releaseRegulated
information
Shareholders overwhelmingly support the creation of two
independent companies - Solvay and Syensqo
Brussels, December 8, 2023 , 14.30
CET
Solvay SA/NV held its Extraordinary General
Shareholders’ Meeting in Brussels with record shareholder
participation. All proposed resolutions were massively approved by
shareholders, including the company’s partial demerger. With
this clear and positive outcome, the separation of Solvay into two
independent companies, the new Solvay and Syensqo, is now confirmed
and will be effective at midnight.
Nicolas Boël, Chairman of the Board, highlighted
the historical decision made at the meeting today: “This moment
marks the culmination of the profound re-organisation that Solvay
has undergone in recent years under the leadership of CEO Dr. Ilham
Kadri. This transformational project of creating two new industry
champions, which we began 18 months ago, has been possible
due to the tremendous efforts and commitment of our teams who have
consistently delivered strong results for our stakeholders.
Importantly, both companies begin their independent journeys with
strong balance sheets which will support their future growth.
In a world of perpetual change, the status quo
is never an option. As the G.R.O.W strategy delivered on its
targets ahead of schedule, the Board took the bold step to initiate
the next stage of Solvay’s transformation in its 160-year journey.
The creation of two independent companies will unlock further value
to our stakeholders. It will sharpen our strategic focus, bring new
growth opportunities, allow us to allocate capital more
efficiently, and build even stronger foundations for the
future.”
“I would like to thank the shareholders and
board members for their trust and overwhelming support in this
ambitious new chapter for the history of the company, as well as
our teams who made it happen. I am delighted to be able to
lead Syensqo to explore new frontiers to create the chemistry and
technologies needed to advance humanity as well as accelerating its
growth. I also wish Philippe Kehren great success in
leading the new Solvay to maximize profitability and sustain strong
cash generation and returns.” said Ilham Kadri, CEO of
Solvay.
Details of the votes and the presentations of
the Chairman Nicolas Boël and of the CEO Dr. Ilham Kadri are
available in the Investor Relations section of Solvay’s
website.
Syensqo’s listing on Euronext Brussels and
Euronext Paris (under ticker “SYENS”) will begin at market opening
at 9:00 a.m. (CET) on Monday, December 11, 2023 .
Important legal information
This press release is for informational purposes
only and is not intended to, and does not, constitute an offer or
invitation to sell or solicitation of an offer to subscribe for or
buy, or an invitation to purchase or subscribe for, any securities
of Solvay or Syensqo SA/NV (“Syensqo”), any part of the business or
assets described herein, or any other interests or the solicitation
of any vote or approval in any jurisdiction in connection with the
transactions described herein or otherwise, nor shall there be any
sale, issuance or transfer of securities in any jurisdiction in
contravention of applicable law. This press release should not be
construed in any manner as a recommendation to any reader
thereof.
This press release is not a prospectus or other
offering document for the purposes of Regulation (EU) 2017/1129 of
June 14, 2017 (as amended, the “Prospectus Regulation”), and the
allocation of shares of Syensqo to Solvay’s shareholders as part of
the contemplated partial demerger of Solvay will be carried out in
circumstances that do not constitute “an offer of securities to the
public”within the meaning of the Prospectus Regulation. Syensqo has
prepared a prospectus for purposes of the admission to trading of
Syensqo’s shares on the regulated markets of Euronext in Brussels
and Paris in connection with the partial demerger of Solvay. The
constituent parts of the prospectus (i.e., the registration
document and a supplement thereto, the securities note and the
summary of the prospectus) are available to investors at no cost on
the corporate websites of Syensqo
(www.syensqo.com/en/investors/spinoff) and Solvay (www.solvay.com),
as well as at the registered office of Syensqo, at Rue de la Fusée
98, 1130 Brussels, Belgium. The approval of each constituent part
of the prospectus by the Belgian Financial Services and Markets
Authority (the “FSMA”) should not be understood as an endorsement
of the shares of Syensqo to be admitted to trading on the
aforementioned regulated markets.
The distribution of this press release may be
restricted by law in certain jurisdictions and persons into whose
possession any document or other information referred to herein
comes, should inform themselves about and observe any such
restriction. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction.
This press release is directed solely to persons
in the United Kingdom who (i) have professional experience in
matters relating to investments, such persons falling within the
definition of “investment professionals” in Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005, as amended (the “Financial Promotion Order”) or (ii) are
persons falling within Article 49(2)(a) to (d) of the Financial
Promotion Order or (iii) other persons to whom an invitation or
inducement to engage in investment activity (within the meaning of
Section 21 of the Financial Services and Markets Act 2000) may
lawfully be communicated or caused to be communicated, (all such
persons together being referred to as “relevant persons”). This
press release is directed only to relevant persons and must not be
acted on or relied on by persons who are not relevant persons.
- Shareholders overwhelmingly support the creation of two
independent companies - Solvay and Syensqo
Solvay (EU:SOLB)
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Solvay (EU:SOLB)
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