ITEMS 1 and 2: the Company seeks shareholder approval to renew two authorizations for a period of 5 years. ECGS notes that the new text of article 8 (ITEM 2) does not allow the company to use its authorization during a takeover bid anymore. Both authorizations respect ECGS’ guidelines and we recommend shareholders to approve.
ITEMS 3 and 4: the Company seeks shareholder approval to align the articles of association with the CAC (Companies and Associations Code), and simplify and modernize certain provisions. Consequently, it is proposed to replace the current text of the articles of association with a new text. ECGS notes that Solvay does not opt for double voting rights (authorized as a possibility by the CAC), which is very satisfactory. Accordingly, we recommend shareholders to approve both items.
Solvay is engaged in chemical and plastic businesses worldwide. Co. offers chemical products such as advanced materials, barium strontium, calcium chloride, caustic soda, chlorinated products, fluor, peroxygen products, polyglycerols, precipitated calcium carbonate, soda ash, and sodium bicarbonate. It also provides specialty polymers, such as Spire ultra polymers, Solviva biomaterials, and sulfone polymers. Co. structures its activities around five operating segments: Advanced Formulations, Advanced Materials, Performance Chemicals, Functional Polymers and Corporate & Business Services, each with its own specific business model and each comprised of Global Business Units (GBUs).
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