Brenntag plans the conversion of its legal form into Societas Europaea
Brenntag plans to convert its legal form from a German stock corporation (Aktiengesellschaft, AG) into a Societas Europaea (SE).
This was decided by the management board and the supervisory board. Brenntag SE will continue to be headquartered in Essen and will continue to be managed on a dualistic basis by the management board and the cupervisory board. The responsibilities and composition of the two management bodies will remain unaffected by the new structure.
Brenntag’s management board considers the Societas Europaea to be the modern legal form that is in keeping with today’s corporate structure. “Brenntag is an international group headquartered in Europe and employing people from over 100 nations, of whom 90 percent work outside Germany,” says Chief Executive Officer Steven Holland. “The SE as a supranational legal form stands for our global orientation and identity and the transformation is a consistent step in the further development of our company”.
Conversion does not affect shareholders’ rights
The conversion into an SE is to be submitted to the Brenntag General Shareholders’ Meeting for approval at its ordinary meeting in June 2020. The shareholders of Brenntag AG will automatically become shareholders of Brenntag SE. The conversion does not affect shareholders’ rights, financial reporting or the listing of Brenntag shares on the Frankfurt stock exchange. Brenntag expects to see the registration in the commercial register and the conversion to take effect in summer 2020.
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