Solvay publishes comprehensive documents in relation to the two future companies
June 30 2023 - 2:00AM
Solvay publishes comprehensive documents in relation to the two
future companies
Solvay publishes comprehensive documents in relation to the two
future companies
Brussels, Belgium – June 30, 2023 (8.00am CEST) – Today,
Solvay published two comprehensive documents that provide
additional information, including historical financial information,
related to the planned separation of Solvay into two independent
companies.
Specialty Holdco Belgium (“SpecialtyCo”, to be
renamed “Syensqo” prior to completion of the partial demerger from
Solvay SA - SOLB), published its registration document which was
approved by the Belgian Financial Services and Market Authority
(the “FSMA”) on June 29, 2023.
Solvay SA also published an information document
covering the remaining EssentialCo (which will keep the Solvay
name). Both documents are available on Solvay’s website using the
respective links below.
- Syensqo SpecialtyCo document
- EssentialCo document
- Table summarizing certain key
financial metrics
“These publications mark another important
milestone in executing our plan to separate into two strong,
stand-alone companies, each well-positioned to pursue its own
strategic focus and priorities. The project remains on track to
complete the separation in December,”said Ilham Kadri, Solvay
CEO.
Disclaimer
The contemplated separation of Solvay is subject
to general market conditions and customary closing conditions,
including final approval by the Board of Directors of Solvay SA
(the “Company”), consent of certain financing providers and
shareholder approval at an extraordinary general meeting, and is
expected to be completed in December 2023. There can be no
assurance, however, regarding the ultimate timing of the separation
or that the separation will actually be completed. The Company will
keep the market informed if and when appropriate.
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 Specialty Holdco Belgium SRL (“SpecialtyCo”), 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 SpecialtyCo to the Company’s shareholders
as part of the contemplated partial demerger of the Company is
expected to be carried out in circumstances that do not constitute
an “offer of securities to the public” within the meaning of the
Prospectus Regulation. SpecialtyCo has prepared a registration
document, which will become a constituent part of SpecialtyCo’s
prospectus for purposes of the admission to trading of
SpecialtyCo’s shares on the regulated markets of Euronext in
Brussels and Paris in connection with the contemplated partial
demerger of the Company. The registration document is available to
investors at no cost on Solvay’s website (www.solvay.com) and
SpecialtyCo’s website
(www.solvay.com/en/investors/creating-two-strong-industry-leaders/syensqo)
and at the registered office of SpecialtyCo, at Rue de Ransbeek
310, 1120 Brussels, Belgium. The approval of the registration
document by the FSMA should not be understood as an endorsement of
the shares of SpecialtyCo 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 FSMA (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 other
persons to whom it 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.
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