Participation notification by Solvac SA
Brussels, Wednesday March 28, 2018, 8h00 --- According to the Belgian transparency legislation in force (Law of May 2, 2007), SOLVAC SA, located at Rue des Champs Elysées 43 – 1050 Brussels – Belgium, has notified Solvay SA that on:
March 21, 2018, Solvay Stock Option Management Sprl (SSOM) crossed downwards the statutory declaration threshold of 3% of the existing voting rights emitted by Solvay SA, for a total of 2.989% (2.318% of direct voting rights + 0.67% of other financial instruments), whereby the combined holding by Solvac and SSOM reached 33.70% of the existing voting rights;
March 22, 2018, SSOM crossed upwards the statutory declaration threshold of 3% of the existing voting rights emitted by Solvay SA, for a total of 3.013% (2.342% of direct voting rights + 0.67% of other financial instruments), whereby the combined holding by Solvac and SSOM reached 33.72% of the existing voting rights.
SOLVAC SA is presumed to exercise de facto control over Solvay SA, and therefore SSOM, on the basis of Article 5, §3, 2nd paragraph of the Belgian companies code.
The declaration by SOLVAC SA is published in the Investor Relations Section of Solvay's website.
The complete press release can be found here below.
Solvay is an advanced materials and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers worldwide in many diverse end markets. Its products are used in planes, cars, batteries, smart and medical devices, as well as in mineral and oil and gas extraction, enhancing efficiency and sustainability. Its lightweighting materials promote cleaner mobility, its formulations optimize the use of resources and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 26,800 employees in 61 countries. Net sales were €10.1 billion in 2017, with 90% from activities where Solvay ranks among the world’s top 3 leaders, resulting in an EBITDA margin of 22%. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLB.BR) and in the United States its shares (SOLVY) are traded through a level-1 ADR program. Financial figures take into account the announced divestment of Polyamides.