Sika continues to not support SGO offer, to discuss situation with investors following shareholder requests
In response to numerous requests from shareholders and with the intent of entering into a constructive dialogue, Sika will discuss the situation resulting from the planned transaction between the Burkard Family and Saint-Gobain with its investors, based on the presentation as published on the Sika website here.
KEY EVENTS OF THE LAST 10 DAYS
* December 5, board and management of Sika were informed of transaction for first time on Friday evening by family and SGO
* Initial limited discussions between Sika and SGO during following weekend, with SGO rejecting constructive suggestions to mitigate apparent flaws of current structure
* Publication of independent position of Sika board and management on transaction last Monday (8 December)
* Planned transaction is not in the best interest of Sika or its public shareholders
* Board and management do not support transaction in its planned form
* Family requested EGM to replace three independent board members with two nominees to gain majority in board (10 December)
* No further interaction between Sika and SGO to date