Solvay’s extraordinary shareholders’ meeting supported the separation with 99.53 % of positive votes, giving official birth to Syensqo
As the Extraordinary General Shareholders’ Meeting of Solvay SA/NV closed today with massive support (+99.53%) of shareholders, Syensqo SA/NV will be officially demerged from Solvay effective at midnight.
“This is a historical moment”, said Dr. Ilham Kadri, incoming CEO of Syensqo. “This turning point highlights the recognition and success of the in-depth transformation of Solvay in the past 5 years. I want to thank all our shareholders, board members and teams for their trust, and for making this ambitious project come true. I also wish the new Solvay a very bright future.
I am now pleased to start a new chapter as CEO of the new specialty company Syensqo to deliver growth through exploring the technologies of tomorrow, with a strong management team and board.
Our new pure play company, one of the largest in the world, will benefit from the rich heritage of Solvay. In particular, in carrying on the spirit of innovation of its founder Ernest Solvay, as a true science company at the service of disruptive technologies in lightweighting, electrification, digitalization, resources efficiency and biomaterials.
Syensqo’s mission is to strengthen our innovation power to support our customers’ needs and environmental ambitions while delivering growth, and to become carbon neutral by 2040”.
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.
Syensqo is a science company developing groundbreaking solutions that enhance the way we live, work, travel and play. Inspired by the scientific councils which Ernest Solvay initiated in 1911, we bring great minds together to push the limits of science and innovation for the benefit of our customers, with a diverse, global team of more than 13,000 associates in 30 countries.
Our solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices and health care applications. Our innovation power enables us to deliver on the ambition of a circular economy and explore breakthrough technologies that advance humanity.
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”) or Regulation (EU) 2017/1129 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended (the “UK Prospectus Regulation”), and the allocation of shares of Syensqo to Solvay’s shareholders as part of the partial demerger of Solvay is expected to be carried out in circumstances that do not constitute “an offer to the public” within the meaning of the Prospectus Regulation or the UK Prospectus Regulation.
You should read the Prospectus prepared by the Company for purposes of the listing and admission of its shares to trading on the regulated markets of Euronext in Brussels and Paris (the “Admission”). The approval of the Prospectus by the Belgian Financial Services and Markets Authority should not be understood as an endorsement of the shares of the Company to be admitted to trading on the aforementioned regulated markets.
Any potential investor should make their investment solely on the basis of information contained in the Prospectus. Potential investors should read the Prospectus before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the Company’s shares.
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 the Company or Solvay, 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.
The securities of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and neither Solvay nor the Company intend to make a public offer of securities in the United States.
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