- 1:3 stock split on August 1, 2014
- Shares in securities accounts will be converted automatically by the depository banks
Brenntag, the global market leader in chemical distribution, will proceed with a 1:3 stock split on August 1, 2014, as resolved by the General Shareholders’ Meeting on June 17, 2014. On that date, the quotation of Brenntag shares (WKN A1DAHH, ISIN DE000A1DAHH0) in the Frankfurt Stock Exchange regulated market (Prime Standard) will be converted without the securities identification number being changed.
“Since being listed at the stock exchange in March 2010, the Brenntag share price has shown a very pleasing performance. The absolute share price now looks relatively high compared to the prices of other MDAX shares. The stock split is intended to make our shares more attractive to an even wider range of investors and to increase the share’s liquidity,” says Georg Müller, Brenntag AG's Chief Financial Officer, explaining the move.
Following the capital increase from company funds through the issue of new shares, the registered share capital of the company is now EUR 154,500,000 and is divided into an equally high number of registered no-par-value shares following the split. Shareholders will be issued two additional shares for each Brenntag share they hold by their depository bank. The change does not require any action from them. The share price will also be arithmetically divided by three without having an impact on the value of each shareholder's portfolio.
Brenntag, the global market leader in chemical distribution, covers all major markets with its extensive product and service portfolio. Headquartered in Mülheim an der Ruhr, Germany, the company operates a global network with more than 480 locations in more than 70 countries. In 2013, the company, which has a global workforce of more than 13,000, generated sales of EUR 9.8 billion (USD 13.0 billion). Brenntag is the link between chemical manufacturers and chemical users. The company supports its customers and suppliers with tailor-made distribution solutions for industrial and specialty chemicals. With over 10,000 products and a world-class supplier base, Brenntag offers one-stop-shop solutions to around 170,000 customers. This includes specific application technology, an extensive technical support and value-added services such as just-in-time delivery, product mixing, formulation, repackaging, inventory management and drum return handling. Long-standing experience and local excellence in the individual countries characterize the global market leader in chemical distribution.