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Clariant Finance (Luxembourg) S.A. : AGM Statement

Clariant`s shareholders approve all agenda items  
 
  • Distribution increase to CHF 0.45 per share confirmed
  • Integrated Report and Group`s Consolidated Financial Statements for fiscal year 2016 approved
  • Shareholders approve Compensation Report 2016 on a consultative basis
  • All members of the Board of Directors reelected
 
 

Muttenz, March 20, 2017 - At today`s Annual General Meeting in Basel, the shareholders of Clariant AG, a world leader in specialty chemicals, approved all agenda items and resolutions proposed by the Board of Directors. The meeting was attended by 482 shareholders and shareholder representatives accounting for 178 055 160 shares or around 53.64 % of the share capital of Clariant.

Rudolf Wehrli, Chairman of the Board of Directors, said: "In 2016, Clariant delivered an excellent result: the EBITDA margin before exceptional items increased from 14.7% to 15.2%, the operating cash flow increased by 29% to 646 million Swiss francs and the net profit rose by 16% to 263 million Swiss Francs". Hariolf Kottmann, CEO, reconfirmed the mid-term target of reaching a leading position in the specialty chemicals industry. "For 2017, despite an uncertain environment characterized by a high volatility in commodity prices, currencies as well as political uncertainties, Clariant is confident to be able to achieve growth in local currency, as well as progression in operating cash flow and profitability."

At the Annual General Meeting, the Integrated Report (formerly Annual Report) as well as the Group`s Consolidated Financial Statements for the 2016 fiscal year were approved with 99.97 % of the votes. The Compensation Report 2016 was also approved on a consultative basis with 82.33 % of the votes. The members of the Board of Directors and the Executive Committee were discharged with 99.67 % of the votes. In addition, the Annual General Meeting approved the appropriation of the accumulated profit for 2016 with 99.97 % of the votes, as well as a distribution of the confirmed reserves from capital contributions of CHF 0.45 per share with 99.96 % of the votes.

All members of the Board of Directors were reelected for one year by a large majority, as was the Chairman of the Board of Directors, Rudolf Wehrli. PricewaterhouseCoopers AG was confirmed as the statutory auditor for 2017.

The proposal for overall compensation of the Board of Directors for the term from the 2017 to the 2018 Annual General Meeting was approved with 96.82 % of the votes, as was the overall compensation of the Executive Committee for the 2018 fiscal year, with 83.50 % of the votes.

Rudolf Wehrli, Chairman of the Board of Directors, opens the 22nd Annual General Meeting of Clariant AG. (Photo: Clariant)

CEO Hariolf Kottmann discusses the corporate strategy. (Photo: Clariant)

NB:
The speeches (German only) of Rudolf Wehrli, Chairman of the Board of Directors, CEO Hariolf Kottmann, and guest speaker Richard Haldimann along with pictures are available on http://www.clariant.com/en/Investors/Events/Annual-General-Meetings

Corporate Media Relations Investor Relations
Jochen Dubiel

Phone +41 61 469 63 63
jochen.dubiel@clariant.com
Anja Pomrehn

Phone +41 61 469 67 45
anja.pomrehn@clariant.com
Claudia Kamensky

Phone +41 61 469 63 63
claudia.kamensky@clariant.com
Maria Ivek

Phone +41 61 469 62 92
maria.ivek@clariant.com
Thijs Bouwens

Phone +41 61 469 63 63
thijs.bouwens@clariant.com
 
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www.clariant.com

 

 

Clariant is a globally leading specialty chemicals company, based in Muttenz near Basel/Switzerland. On 31 December 2016 the company employed a total workforce of 17 442. In the financial year 2016, Clariant recorded sales of CHF 5.847 billion for its continuing businesses. The company reports in four business areas: Care Chemicals, Catalysis, Natural Resources, and Plastics & Coatings. Clariant`s corporate strategy is based on five pillars: focus on innovation through R&D, add value with sustainability, reposition portfolio, intensify growth, and increase profitability.

 

Press Release english


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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: Clariant Finance (Luxembourg) S.A. via GlobeNewswire

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