Recticel Engineered Foams USA was awarded the supply of high-performance foam-based thermal and acoustic protection systems for the New Glenn rocket fairing kit of aerospace manufacturer Blue Origin. After having supplied comparable solutions to SpaceX, this cooperation confirms Recticel’s ability to offer sophisticated materials for the demanding space industry.
Recticel announces that on 30 June 2021 its share capital has been increased following the exercise of (i) 15,500 warrants of the warrant plan issued on 23 June 2015 and (ii) 5,000 warrants of the warrant plan issued on 30 June 2017. This resulted in the issuance of 20,500 new ordinary shares, which will be admitted for trading on Euronext Brussels as of 02 July 2021.
Recticel announces that on 31 May 2021 its share capital has been increased following the exercise of (i) 21,000 warrants of the warrant plan issued on 23 June 2015 and (ii) 12,500 warrants of the warrant plan issued on 30 June 2017. This resulted in the issuance of 33,500 new ordinary shares, which will be admitted for trading on Euronext Brussels as of 02 June 2021.
At the Annual General Shareholders’ Meeting of Recticel, which took place this morning, all proposed resolutions on the agenda(1) of the Ordinary General Meeting were approved.
Recticel will distribute a gross dividend of EUR 0.26 per share, which will be paid on 01 June 2021.
The Meeting also:
After careful consideration, the Board of Directors of Recticel SA/NV is of the view that the unsolicited conditional voluntary takeover bid from Greiner AG on Recticel for EUR 13.50 per share does not address the position and legitimate interests of all stakeholders and substantially undervalues the company.
Recticel invited Greiner AG to clarify their bid during a meeting with the Chairman and the CEO of Recticel on 24 May 2021. This meeting only further confirmed this view.
Disclosure in accordance with the provisions of the Act of 2 May 2007
The information provided below constitutes regulated information as defined in the Royal Decree of 14 November 2007 regarding the duties of issuers of financial instruments, which have been admitted for trading on a regulated market.
We have taken note that on Tuesday 18 May 2021, Greiner AG has filed a draft prospectus with the FSMA for the Conditional Voluntary Takeover of 100% of Recticel SA/NV’s issued share capital for EUR 13.50 per share in cash. This draft prospectus has been filed prior to any discussions with Recticel and ahead of the meeting between Greiner and representatives of our Board of Directors confirmed for Monday 24 May 2021 in Brussels. The draft prospectus does not consider our revised guidance for full-year 2021 as per our trading update yesterday morning, 19 May 2021.
Following the recent announcements made by Bois Sauvage and Greiner AG, as described in our press release on 17 May 2021, the Board of Directors has agreed to meet Greiner on Monday 24 May 2021 in Brussels. The aim of the meeting is to seek further clarity on its intended conditional voluntary public takeover bid.
The Board of Directors intends to provide its views on the envisaged transaction following the meeting.