Fintech PR
dsm-firmenich makes voluntary cash offer for DSM shares
KAISERAUGST, Switzerland and HEERLEN, Netherlands, Jan. 8, 2024 /PRNewswire/ — DSM-Firmenich AG (the Company or dsm-firmenich) and DSM B.V. (DSM) today announce that the remaining holders of DSM ordinary shares will have the opportunity to sell their DSM ordinary shares to dsm-firmenich through the voluntary tender offer launched by dsm-firmenich today. The details of the tender offer are set out in this press release.
Statutory Buy-Out
dsm-firmenich started a statutory buy-out procedure (the Buy-Out) on July 17, 2023 to acquire the remaining ordinary shares, about 3.9%, in DSM, previously Koninklijke DSM N.V. (the Shares). On such date, dsm-firmenich already held 96.1% of the Shares.
For this Buy-Out, the Company has requested the Enterprise Chamber of the Amsterdam Court of Appeal (Ondernemingskamer) to set – in line with past practice – the fair price of the Shares at the closing share price of a dsm-firmenich ordinary share on Euronext Amsterdam on May 3, 2023. This price amounts to €116, minus the dividend paid on the Shares of €22.58 on July 3, 2023, and with any further dividends or other distributions yet to be paid on the Shares also to be deducted. This Buy-Out may extend well into 2024.
Additional information on the Buy-Out can be found on the Company’s website (https://www.dsm-firmenich.com).
Voluntary Tender Offer
As a faster alternative, remaining holders of the Shares who do not want to wait until the Buy-Out is finalized, can temporarily benefit from the voluntary cash offer launched by the Company today (the Voluntary Tender Offer).
The Company offers the remaining holders of the Shares the opportunity to sell their Shares at an offer price of €96.00 (the Offer Price). The Offer Price is based on the proposed fair price of €116 minus the paid dividend of €22.58 and transaction costs for the Company and increased by statutory interest. This Offer Price will be paid by the Company free from withholding or dividend tax.
The period during which the remaining holder of the Shares can sell their Shares will start on January 8, 2024 at 9:00 CET and will end on February 9, 2024 at 17:40 CET.
Remaining holders of the Shares who would like to make use of the opportunity offered by the Voluntary Tender Offer are requested to submit their acceptance via their financial intermediary, custodian, bank or stockbroker to ABN AMRO Bank N.V. (ABN AMRO). In some cases, a financial intermediary, custodian, bank or stockbroker can set an earlier time for their clients in order to assure on-time registration with ABN AMRO.
Remaining holders of the Shares who have sold and transferred their Shares for acceptance in the Voluntary Tender Offer will receive the Offer Price for their sold Shares on February 13, 2024.
Remaining holders of the Shares who do not wish to make use of the opportunity offered by the Voluntary Tender Offer do not have to take any action and will consequently remain subject to the Buy-Out.
Announcements in relation to the Voluntary Tender Offer are issued by means of a press release and made available on the website of the Company (https://www.dsm-firmenich.com).
For more information, please contact:
dsm-firmenich investor relations enquiries:
Email: [email protected]
dsm-firmenich media enquiries:
Email: [email protected]
Settlement, Listing and Paying Agent:
ABN AMRO Bank N.V.
Corporate Broking Issuer Services
Email: [email protected]
Telephone: +31 20 628 6070
About dsm-firmenich
As innovators in nutrition, health, and beauty, dsm-firmenich reinvents, manufactures, and combines vital nutrients, flavors, and fragrances for the world’s growing population to thrive. With our comprehensive range of solutions, with natural and renewable ingredients and renowned science and technology capabilities, we work to create what is essential for life, desirable for consumers, and more sustainable for the planet. dsm-firmenich is a Swiss-Dutch company, listed on the Euronext Amsterdam, with operations in almost 60 countries and revenues of more than €12 billion. With a diverse, worldwide team of nearly 30,000 employees, we bring progress to life™ every day, everywhere, for billions of people. www.dsm-firmenich.com
General restrictions
The Voluntary Tender Offer in jurisdictions other than the Netherlands and Switzerland may be restricted and/or prohibited by law. The Voluntary Tender Offer is not being made, and the Shares will not be accepted for purchase from or on behalf of any holder of the Shares, in any jurisdiction in which the making of the Voluntary Tender Offer or acceptance thereof would not be in compliance with the securities or other laws or regulations of such jurisdiction or would require any registration, approval or filing with any regulatory authority. Outside of the Netherlands and Switzerland, no actions have been taken (nor will actions be taken) to make the Voluntary Tender Offer possible in any jurisdiction where such actions would be required. Neither dsm-firmenich, nor DSM, nor ABN AMRO accepts any liability for any violation by any person of any such restriction. Any failure to comply with any such restrictions may constitute a violation of the law of any such jurisdiction.
Notice to US investors
The Voluntary Tender Offer is being made for securities of a Dutch company and holders of the Shares that are resident in the United States should be aware that this announcement and any other documents relating to the Voluntary Tender Offer have been or will be prepared in accordance with the European Union disclosure requirements, format and style, all of which differ from those in the United States. All financial information that is included in this announcement or that may be included in any documents relating to the Voluntary Tender Offer have been or will be prepared in accordance with the European Union’s generally accepted accounting principles and International Financial Reporting Standards and may not be comparable to financial statements of US companies.
It may be difficult for holders of the Shares to enforce certain rights and claims arising in connection with the Voluntary Tender Offer under US federal securities laws since dsm-firmenich and DSM are located outside the United States, and their officers and most of their directors reside outside the United States. Therefore, investors may have difficulty effecting service of process within the United States upon those persons or recovering against dsm-firmenich, DSM or their respective officers or directors on judgments of US courts, including judgments based upon the civil liability provisions of the US federal securities laws. It may not be possible to sue a non-US company or its officers or directors in a non-US court for violations of US securities laws. It also may not be possible to compel a non-US company or its affiliates to subject themselves to a US court’s judgment.
The Voluntary Tender Offer will be made in the United States pursuant to applicable US tender offer rules and securities laws, or pursuant to exemptive relief therefrom granted by the United States Securities and Exchange. Accordingly, the Voluntary Tender Offer will be subject to disclosure and other procedural requirements, including with respect to terms, conditions and procedures that are different from those applicable under US domestic tender offer procedures and law.
Holders of the Shares that are resident in the United States also should be aware that the Voluntary Tender Offer may be a taxable transaction for US federal income tax purposes and under applicable US state and local, as well as foreign and other, tax laws and, that such consequences, if any, are not described herein. Holders of the Shares that are resident in the United States are urged to consult with legal, tax and financial advisers in connection with making a decision regarding the Voluntary Tender Offer.
Logo – https://mma.prnewswire.com/media/2071772/dsm_firmenich_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/dsm-firmenich-makes-voluntary-cash-offer-for-dsm-shares-302021401.html
PASAY CITY, Philippines, Dec. 26, 2024 /PRNewswire/ — The SM Group is approaching the coming year with cautious optimism, encouraged by the continued growth of the Philippine economy.
SM Investments President and Chief Executive Officer Frederic C. DyBuncio said that despite ongoing challenges of peso volatility and higher inflation, the business sector has adapted well.
Consistent demand sustained household spending in the third quarter, with Household Final Consumption Expenditure posting a year-on-year growth of 5.1%, maintaining the same level in the same quarter last year, data from the Philippine Statistics Authority showed.
“Any moderation in inflation should trigger a strong confidence rebound. This could create opportunities in consumer-focused sectors in the country and we are poised to cater to these evolving demands,” Mr. DyBuncio said.
To cater to growing demand, SM continues to expand into more underserved areas, contributing to sustainable economic development and collaborating with government stakeholders to enhance access to modern retail, financial services, and integrated property developments.
“By investing and expanding to more areas nationwide, SM creates new markets and improves access to these essential sectors, serving more communities and helping stimulate sustained economic activities,” he said.
Mr. DyBuncio also said SM continues to invest in promising ventures such as renewable energy and logistics, that foster economic activity.
SM has invested in the clean energy industry through Philippine Geothermal Production Company (PGPC) which produces 300 Megawatts of geothermal steam supply. SM aims to continue to develop geothermal concessions through PGPC in support of the Department of Energy’s goal of reaching 50% renewable energy supply by 2040.
To encourage circularity towards green energy production, SM’s property arm, SM Prime Holdings partnered with GUUN Co. Ltd. (GUUN) to implement the Japanese technique of reducing landfill impact. The technology converts non-recyclable and hard-to-recycle packaging into alternative fuel.
SM’s banking arm, BDO Unibank is one of the largest funders of renewable energy projects. BDO has funded PHP898 billion in sustainable finance, including loans to 59 renewable energy projects as of December 2023.
In logistics and tourism, the improvement of transport networks across the country’s archipelago connects tourist and industrial areas that will help create inclusive growth. SM though its subsidiary 2GO launched MV Masigla and MV Masikap in 2024 to help better connect goods to 19 ports across the country including Iloilo, Bacolod, Cagayan de Oro and Manila, further supporting the government’s push for medium term growth through an upgraded tourism infrastructure and ecosystem.
“Our focus for 2025 will be to drive purposeful growth, empowering communities and partners through our investments towards a sustainable future,” Mr. DyBuncio said.
Logo – https://mma.prnewswire.com/media/1880730/Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/sm-approaches-2025-with-cautious-optimism-302339452.html
TAIPEI, Dec. 26, 2024 /PRNewswire/ — VIVOTEK (3454-TW), the global leading security solution provider, has once again demonstrated its outstanding commitment to sustainability. Participating for the first time in the 17th Taiwan Corporate Sustainability Awards (TCSA), VIVOTEK emerged victorious, earning the Sustainability Report Award for the Information, Communication, and Broadcasting Industry and the Taiwan Corporate Sustainability Excellence Award. These recognitions showcase VIVOTEK’s remarkable success in corporate governance, environmental protection, and social responsibility, affirming its dedication to sustainable growth.
Pioneering Sustainability with Dual Recognition
“For over seven years, VIVOTEK has independently published sustainability reports, actively driving and disclosing our internal sustainability initiatives.” said Allen Hsieh, VIVOTEK’s Spokesperson and Director of the Global Marketing Division. “These awards not only recognize our integrity and efforts in presenting operational performance, environmental data, and social impact but also serve as a strong motivation for us to continue advancing on the path of sustainable development.”
Driving Sustainability through AI Innovation
VIVOTEK delivers advanced AI-powered security solutions built on cutting-edge AI and edge computing technologies. Beyond innovation, the company drives green initiatives, reduces its carbon footprint, and fosters a sustainable, supportive workplace.
Committed to social responsibility, VIVOTEK leads the security industry’s sustainability efforts through its ‘Safety Map’ initiative. For four years, employees have formed security teams to enhance safety in neighborhoods, care centers, and schools with on-site assessments and improvement plans.
In 2024, VIVOTEK will expand its efforts to Hualien’s Dacheng Village, where it will help improve local safety environments and support cultural preservation and tourism revitalization. These actions reflect its dedication to sustainability, community well-being, and lasting societal contributions.
Security Sustainability as a Foundation for Social Impact
VIVOTEK proudly received two prestigious honors at the Taiwan Corporate Sustainability Awards, highlighting its dedication to sustainable practices. These accolades inspire the company to deepen its internal efforts and mark the start of an exciting new chapter.
Building on this achievement, VIVOTEK aims to strengthen its mission of becoming the world’s most trusted smart security brand. By aligning with global market needs and fostering collaboration with customers, partners, and employees, VIVOTEK is committed to shaping a sustainable future founded on mutual trust and shared success.
To learn more about VIVOTEK’s sustainability initiatives, please refer to the 2023 Sustainability Report.
View original content:https://www.prnewswire.co.uk/news-releases/vivotek-wins-double-honors-for-its-commitment-to-sustainability-302339223.html
Fintech PR
2024 Global Youth Design Contest on Chinese Characters Themed “Guiyang in Characters” Successfully Concluded
GUIYANG, China, Dec. 26, 2024 /PRNewswire/ — To fully implement the spirit of “carrying forward China’s cultural heritage” and “promoting the creative transformation and innovative development of fine traditional Chinese culture”, the 2024 Global Youth Design Contest on Chinese Characters Themed “Guiyang in Characters”, organized by the Publicity Department of the CPC Guiyang Municipal Committee and hosted by www.huanqiu.com, has successfully concluded on Dec.16. The contest drew thousands of teenagers from both China and abroad, who used cultural empowerment and innovative designs of Chinese characters to narrate and promote Guiyang.
At the “Colorful Guizhou • Literary Plateau” Farming and Reading Event, 59 outstanding works from 26 countries, along with 21 representative pieces from various countries and regions, were showcased. According to the organizing committee of the Global Youth Design Contest on Chinese Characters, “This exhibition serves as both a lasting commemoration of the event and a report to all those who care about the inheritance and promotion of Guiyang and Chinese culture.”
In their submissions, the teenagers selected Chinese characters or phrases they believed best represented Guiyang and reimagined them through innovative designs. Outstanding designs incorporated Guiyang’s iconic architecture and cultural landmarks into Chinese characters to present the city’s urban landscape and historical culture. Some works spotlighted Guiyang’s distinctive cuisine, offering a glimpse into the vibrant and diverse local culinary culture. Some other designs drew inspiration from martial arts villages in Guizhou and featured dragon motifs to symbolize the depth and vitality of Guizhou culture.
Saison from Tajikistan was among the participants in this year’s Global Youth Design Contest on Chinese Characters. Speaking about his design of the Chinese characters, he shared that his design sought to merge the beauty of Chinese characters with the charm of Guiyang. “Guiyang is a captivating place, known for its beautiful scenery, delicious food, and diverse ethnic minorities. I tried to incorporate the beauty of Guiyang into my Chinese character design, hoping to convey the city’s charm and the wonders of Chinese characters through my work.”
The contest officially opened for submissions on September 30. In an effort to boost public engagement and participation, a “cheerleading campaign” was organized for shortlisted works from November 22 to 29. Following expert reviews, 80 outstanding works were ultimately selected for public exhibition.
Photo – https://mma.prnewswire.com/media/2587793/image_5002696_33228126.jpg
View original content:https://www.prnewswire.co.uk/news-releases/2024-global-youth-design-contest-on-chinese-characters-themed-guiyang-in-characters-successfully-concluded-302339323.html
-
Fintech PR6 days agoAccording to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004
-
Fintech PR6 days agoPresident Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
-
Fintech PR3 days agoGCL Energy Technology and Ant Digital Technologies Launch First Blockchain-Based RWA Project in Photovoltaic Industry
-
Fintech PR3 days agoBybit Champions Web3 Innovation and Strengthens Ties with Asia’s Crypto Community at Taipei Blockchain Week
-
Fintech PR6 days agoStay Cyber Safe This Holiday Season: Heimdal’s Checklist for Business Security
-
Fintech PR2 days ago2025 Will See Increased QR Code Payments but Payment Card IC ASPs Will Not Return to Pre-Covid Levels
-
Fintech PR6 days agoMedicilon Appoints Dr. Lilly Xu as Chief Technology Officer
-
Fintech PR4 days agoH.I.G. Realty Announces Strategic Partnership with Queen Mary BioEnterprises Innovation Centre in London