Arkema: Capital Reduction by Cancellation of Treasury Shares

Rhea-AI Summary

The Board of directors of Arkema announced a share capital reduction by canceling 2,450,435 treasury shares, which is 3.19% of its share capital. This decision, made on 24 January 2022, is effective as of 27 January 2022. Post-transaction, Arkema's capital stands at 742,860,410 euros divided into 74,286,041 shares. Arkema aims to be a pure player in Specialty Materials by 2024, with 82% of 2020 sales from three segments: Adhesive Solutions, Advanced Materials, and Coating Solutions, totaling around €8 billion.

Positive

• Share capital reduction increases earnings per share for existing shareholders.
• Strategic focus on Specialty Materials may enhance long-term growth potential.

Negative

• None.

COLOMBES, France--(BUSINESS WIRE)-- Regulatory News:

The Board of directors of Arkema (Paris:AKE), at its meeting of 24 January 2022, in accordance with the authorization of the combined annual general meeting of 20 May 2021 (13^th resolution) and with the announcement published on 1 December 2021 relating to the completion of the share buyback program launched on 21 May 2021, decided to proceed with Arkema’s share capital reduction by cancelling 2,450,435 treasury shares, representing 3.19% of the share capital.
The capital decrease will be effective as of 27 January 2022 as indicated in the Euronext notice of 25 January 2022.

Upon completion of this transaction, Arkema’s share capital amounts to 742,860,410 euros divided into 74,286,041 fully paid-up shares with a par value of 10 euros each.

Building on its unique set of expertise in materials science, Arkema offers a portfolio of first-class technologies to address ever-growing demand for new and sustainable materials. With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into 3 complementary, resilient and highly innovative segments dedicated to Specialty Materials -Adhesive solutions, Advanced Materials, and Coating Solutions- accounting for some 82% of Group sales in 2020, and a well-positioned and competitive Intermediates segment. Arkema offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of around €8 billion in 2020, and operates in some 55 countries with 20,600 employees worldwide.

A French société anonyme (limited company) with share capital
of €767,364,760 – Registered in Nanterre: RCS 445 074 685 Nanterre

Follow us on:
Twitter.com/Arkema_group
Linkedin.com/company/arkema

View source version on businesswire.com: https://www.businesswire.com/news/home/20220125005846/en/

Investor relations contacts

Béatrice Zilm, +33 (0)1 49 00 75 58, beatrice.zilm@arkema.com

Peter Farren, +33 (0)1 49 00 73 12, peter.farren@arkema.com

Mathieu Briatta, +33 (0)1 49 00 72 07, mathieu.briatta@arkema.com

Caroline Chung, +33 (0)1 49 00 74 37, caroline.chung@arkema.com

Media contacts

Gilles Galinier, +33 (0)1 49 00 70 07, gilles.galinier@arkema.com

Véronique Obrecht, +33 (0)1 49 00 88 41, veronique.obrecht@arkema.com

Source: Arkema

FAQ

What is the recent share capital reduction of Arkema (ARKAY)?

Arkema's Board announced a share capital reduction by canceling 2,450,435 treasury shares, effective from 27 January 2022.

How much is Arkema's share capital after the reduction?

After the reduction, Arkema's share capital amounts to 742,860,410 euros.

What percentage of Arkema's share capital was canceled?

The cancellation represents 3.19% of Arkema's total share capital.

What is Arkema's goal for its business segments by 2024?

Arkema aims to become a pure player in Specialty Materials by 2024.

What were Arkema's reported sales in 2020?

Arkema reported sales of around €8 billion in 2020.