AkzoNobel convenes EGM and actions to improve shareholder relations
(Thomson Reuters ONE) -
July 25, 2017
AkzoNobel today convenes an Extraordinary General Meeting of Shareholders (EGM)
of Akzo Nobel N.V. to be held at Hilton Hotel, Apollolaan 138, 1077 BG
Amsterdam, the Netherlands, on Friday, September 8, 2017 starting at 14.00 CET.
The agenda items are as follows:
1. Appointment of Mr. T.F.J. Vanlancker as member of the Board of Management
(voting point)
2. Further explanation and discussion regarding AkzoNobel's response to the
unsolicited and non-binding proposals made by PPG in March/April 2017
(discussion point)
In addition to the EGM, AkzoNobel also announces a range of measures designed to
strengthen and maintain a constructive dialogue with its shareholders,
including:
* The creation of a Supervisory Board committee for shareholder relations
* David Mayhew and team from JP Morgan Cazenove appointed as advisor for
shareholder relations
* Senior Executive remuneration to be aligned to the new financial plan
* Program of meetings to introduce new CEO
* Augmented schedule of roadshows and conferences
* Enlarged program of analyst and investor webcasts and events
Antony Burgmans, Chairman of the Supervisory Board, commented:
"AkzoNobel values its relationship with shareholders and takes its
responsibility towards them very seriously. In recent months this relationship,
with a particular group of shareholders, has been impacted by events surrounding
the Company.
"We have actively reached out to our shareholders to create a plan to strengthen
our relationship. This has included feedback from 285 meetings and calls with
over 200 investors that have been held in the past six months and a shareholder
survey conducted in June of investors holding more than 42% of the total
shareholding.
"As part of our enhanced shareholder relations plan we will host an EGM on 8
September. In addition to this, we have appointed David Mayhew and team from JP
Morgan Cazenove as a special advisor to a newly established Supervisory Board
committee on shareholder relations. We will increase our program of webcasts and
events for analysts and investors, which will augment our ongoing schedule of
roadshows and management meetings. Senior Executive remuneration will be aligned
to the new financial plan.
"I am also able to confirm today that, barring any exceptional circumstances, I
intend to retire as planned and in-line with the Dutch corporate governance
code, from my position as Chairman of the Supervisory Board of AkzoNobel,
following the completion of my third term in office in April 2018. A process is
now underway to identify my successor.
"All our stakeholders are important and the Supervisory Board and the management
team look forward to continued engagement with shareholders as we deliver on our
strategy to accelerate growth and value creation."
For more information on the EGM and the agenda items, we refer to the Agenda
with explanatory notes and the EGM Notice. AkzoNobel will also update on the
timing of shareholder approval for the separation of Specialty Chemicals. These
documents can be found on the AkzoNobel corporate website (www.akzonobel.com).
- - -
About AkzoNobel
AkzoNobel creates everyday essentials to make people's lives more liveable and
inspiring. As a leading global paints and coatings company and a major producer
of specialty chemicals, we supply essential ingredients, essential protection
and essential color to industries and consumers worldwide. Backed by a
pioneering heritage, our innovative products and sustainable technologies are
designed to meet the growing demands of our fast-changing planet, while making
life easier. Headquartered in Amsterdam, the Netherlands, we have approximately
46,000 people in around 80 countries, while our portfolio includes well-known
brands such as Dulux, Sikkens, International, Interpon and Eka. Consistently
ranked as a leader in sustainability, we are dedicated to energizing cities and
communities while creating a protected, colorful world where life is improved by
what we do.
Not for publication - for more information
AkzoNobel Media Relations AkzoNobel Investor Relations
T: +31 (0)88 969 7833 T +31 (0)88 969 7590
Contact: Diana Abrahams Contact: Lloyd Midwinter
Safe Harbor Statement
This press release contains statements which address key issues such as
AkzoNobel's growth strategy, future financial results, market positions, product
development, products in the pipeline and product approvals. Such statements
should be carefully considered, and it should be understood that many factors
could cause forecasted and actual results to differ from these statements. These
factors include, but are not limited to, price fluctuations, currency
fluctuations, developments in raw material and personnel costs, pensions,
physical and environmental risks, legal issues, and legislative, fiscal, and
other regulatory measures. Stated competitive positions are based on management
estimates supported by information provided by specialized external agencies.
For a more comprehensive discussion of the risk factors affecting our business
please see our latest annual report, a copy of which can be found on our
website: www.akzonobel.com.
Media Release EGM:
http://hugin.info/130660/R/2122692/809448.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: AkzoNobel NV via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.07.2017 - 07:01 Uhr
Sprache: Deutsch
News-ID 553661
Anzahl Zeichen: 6384
contact information:
Town:
Amsterdam
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 249 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"AkzoNobel convenes EGM and actions to improve shareholder relations"
steht unter der journalistisch-redaktionellen Verantwortung von
AkzoNobel NV (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
