Akzo Nobel

Capital repayment and share consolidation



AkzoNobel to conduct €2 billion capital repayment and share consolidation, returning vast majority of net proceeds from sale of Specialty Chemicals.

AkzoNobel shareholders approve all resolutions at EGM.

AkzoNobel shareholders have today voted in favor of all resolutions at the company’s Extraordinary General Meeting (EGM).

The capital repayment and share consolidation, agreed by a majority of shareholders, follows completion of the sale of the Specialty Chemicals business.

A special cash dividend of €1 billion and share buyback of €2.5 billion will be conducted following the capital repayment and share consolidation. This is in addition to €1 billion advance proceeds distributed by a special cash dividend paid on December 7, 2017.

A total of €6.5 billion will have been distributed to shareholders.

Nils Andersen, Chairman of AkzoNobel’s Supervisory Board, commented: “The approval of our shareholders means we can continue delivering on the commitment to return the vast majority of net proceeds from the separation of the Specialty Chemicals business. AkzoNobel is now a focused paints and coatings company, well positioned to deliver significant returns to shareholders and create value for all stakeholders.

Message details

Sub-group Equities
Issuer Akzo Nobel
Category Information
ISIN NL0000009132
Symbol AKZA
Securities name Ordinary shares
Publication date November 14 2018