After the finalisation of the transformation of Recticel in a pure insulation player, the Board of Directors and Olivier Chapelle have agreed that after 13 years at the helm of Recticel, the timing was ideal to pass the torch to a new CEO, who would lead the next phase of expansion of the Company. Olivier Chapelle and the Board of Directors have aligned on a handover, to begin on 1 September 2023, with Jan Vergote who succeeds him. Jan Vergote will resign from all his operational functions at Baltisse Group.
Recticel introduces a new range of polyurethane insulation boards containing 25% bio-circular raw materials, calculated in accordance with the Mass Balance principle. The new Impact range reduces CO2 emissions by an average of 43% compared to a standard board while offering equivalent technical high insulation performance. These new products are an important element of Recticel's proactive approach to reaching net zero emissions by 2050, as committed to the SBTi.
At the Annual General Shareholders’ Meeting of Recticel, which took place this morning, all proposed resolutions on the agenda of the Ordinary General Meeting were approved.
Recticel will distribute a gross dividend of EUR 0.31 per share, which will be paid on 05 June 2023.
Summary of notification
Recticel (Euronext: RECT) has received a transparency notification dated 22 May 2023, which shows that Janus Henderson Group plc, as a result of the acquisition of shares on 18 May 2023, now owns 3.02% (previously 2.99%) of the voting rights of the company. It has thus crossed upwards the 3% shareholding threshold.
Recticel announces that on 27 April 2023 its share capital has been increased following the exercise of 5,000 subscription rights of the warrant plan issued on 25 April 2018 and 5,000 subscription rights of the warrant plan issued on 28 June 2019. This resulted in the issuance of 10,000 new ordinary shares, which will be admitted for trading on Euronext Brussels as of 2 May 2023.
Recticel reports that the closing of the Engineered Foams divestment to Carpenter Co. has not taken place at the end of March 2023.
Parties continue to work towards a closing to take place as soon as possible.