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.”
