Clariant updates Financial Calendar – Governance Agreement with SABIC to expire after AGM on 24 June 2022
AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
MUTTENZ, MAY17, 2022
Clariant, a focused, sustainable, and innovative specialty chemical company, today announced that it has scheduled its Annual General Meeting (AGM) for 24 June 2022, and that with the closing of the AGM the Governance Agreement between Clariant and SABIC will expire. Both parties entered into the agreement on 17 September 2018 when SABIC became Clariant’s anchor shareholder (see 2018 Media Release: Clariant and SABIC enter Governance agreement defining the long-term strategic relationship). As a result of the expiry of the agreement after the AGM 2022, Clariant and SABIC will no longer form a Group regarding the attribution of voting rights and regulatory requirements pursuant to article 120 of the Financial Market Infrastructure Act (FinMIA).
“The Board will continue to drive Clariant’s purpose-led strategy together with the Executive Management Team, with a focus on customer, innovation, sustainability, and people to deliver our 2025 profitable growth targets for the benefit of all stakeholders. We are confident on SABIC’s support in the spirit built over the years,” said Günter von Au, Clariant’s Chairman of the Board of Directors.
Clariant is committed to continue to create shareholder value. After sharpening and pruning the portfolio profile over the last years, Clariant has a focused specialty chemicals portfolio, with an ambition to a top quartile specialty chemicals performance, underpinned by 2025 financial targets of compound annual sales growth of 4 – 6 %, Group EBITDA margin of 19 – 21 %; and free cash flow conversion of around 40 %. Clariant is confident in delivering on its purpose-led strategy and positioning itself as a focused, sustainable, and innovative specialty chemical company, delivering “Greater Chemistry – between people and planet.”
Clariant today also announced its updated financial calendar. Subject to the approval of the Board of Directors, Clariant intends to publish its Fourth Quarter 2021 and audited Full Year 2021 Results on 19 May 2022 and expects to publish and host the postponed corporate events as follows:
|19 May 2022||Fourth Quarter 2021 and audited Full Year 2021|
|02 June 2022||Integrated Report 2021|
|15 June 2022||First Quarter 2022|
|24 June 2022||Annual General Meeting 2022 (virtual)|
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This media release contains certain statements that are neither reported financial results nor other historical information. This document also includes forward-looking statements. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors that are beyond Clariant’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors such as: the timing and strength of new product offerings; pricing strategies of competitors; the Company’s ability to continue to receive adequate products from its vendors on acceptable terms, or at all, and to continue to obtain sufficient financing to meet its liquidity needs; and changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. Clariant does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of these materials.
Clariant is a focused, sustainable and innovative specialty chemical company based in Muttenz, near Basel/Switzerland. On 31 December 2020, the company employed a total workforce of 13 235. In the financial year 2020, Clariant recorded sales of CHF 3.860 billion for its continuing businesses. The company reports in three Business Areas: Care Chemicals, Catalysis, and Natural Resources. Clariant’s corporate strategy is led by the overarching purpose of ”Greater chemistry – between people and planet,” and reflects the importance of connecting customer focus, innovation, sustainability, and people.
- Clariant Media Release Expiration of Governance Agreement 20220517 EN
- Clariant Media Release Expiration of Governance Agreement 20220517 DE
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