SHAREHOLDER SUPPORT FOR SIKA BOARD OF DIRECTORS AND MANAGEMENT INCREASES TO OVER 50 PERCENT
An ever growing number of Sika shareholders are actively opposing Saint-Gobain's plans to take control the company in a hostile takeover. Only ten weeks after Saint-Gobain's intentions became public, shareholders representing more than half of Sika's capital have explicitly declared their support for the course adopted by the Board of Directors and management of Sika. Together these investors hold more than three times as much capital as the Burkard family's Schenker-Winker Holding. In addition to well known institutional investors such as the Bill & Melinda Gates Foundation, Fidelity Worldwide or Threadneedle Investments, 22 Swiss pension funds and countless private investors support the Board of Directors and Group Management in their approach. The huge, constantly growing backing of shareholders and other important stakeholders is strengthening Sika management in its resolve. The Board of Directors and Group Management will continue to protect and defend the legitimate interests of all Sika stakeholders.
Since Saint-Gobain's declared aim is to exert full control over Sika despite holding just 16 percent of its capital, the planned hostile takeover jeopardizes these interests. It would also result in huge conflicts of interests, for example because Saint-Gobain competes directly with Sika in the mortar business.
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DATE |
February 27, 2015 |
CONTACT |
Dominik Slappnig |
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Corporate Communications & |
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SIKA AG |
Zugerstrasse 50 |
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Investor Relations |
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6341 Baar, Switzerland |
TELEPHONE |
+41 58 436 68 21 |
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www.sika.com |
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SIKA CORPORATE PROFILE
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing and protecting in the building sector and the motor vehicle industry. Sika has subsidiaries in 90 countries around the world and manufactures in over 160 factories. Its approximately 17,000 employees generated annual sales of CHF 5.6 billion in 2014.
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Source: %s via Globenewswire
[HUG#1898334]
