RCS - Charles Barker Corp. - Countermotions and election proposals

Brenntag SEAnnouncement

15/05/2023 08:15

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RNS Number : 3973Z  Charles Barker Corporate Comm. GmbH  15 May 2023

PrimeStone Capital - Countermotions and election proposals ahead of the Annual
General Meeting of Brenntag

EQS-Media / 15.05.2023

LONDON, May 15, 2023 -- PrimeStone Capital LLP, a shareholder holding more
than 2% of Brenntag SE (ISIN DE000A1DAHH0, WKN A1DAHH), has sent
countermotions and election proposals regarding agenda item 9 of the upcoming
Annual General Meeting scheduled for June 15, 2023.

As outlined in PrimeStone's letter dated April 18, 2023, Brenntag's long-term
performance and recent developments have raised serious concerns about the
Supervisory Board's oversight of Brenntag, Brenntag's strategy, its
operational performance and its overall governance. The most recent set of
results unfortunately further highlights the urgency of the situation as
performance, particularly in Specialties, deteriorates and the gap with the
company's pure-play peers widens.

The long-lasting lack of decisive strategic direction, flawed capital
allocation decisions and lackluster business performance all make a compelling
case for reinforcing the Supervisory Board and instilling a much-needed sense
of urgency. Unfortunately, the incumbent members are entrenched and have so
far refused to acknowledge the need for rejuvenation. Moreover, detached from
the reality of the situation, they are proposing an astonishing overall
increase of 46% in their compensation. In this context, PrimeStone has sent
the company countermotions and election proposals ahead of the Annual General
Meeting.

You can find our countermotions and election proposals here:
https://revivebrenntag.com/ (https://revivebrenntag.com/)

For media enquiries, please contact Charles Barker Corporate Communications:
primestone-cb@charlesbarker.de (mailto:primestone-cb@charlesbarker.de) , +49
69 794090-25

End of Media Release

 

End of Media Release

Issuer: Charles Barker Corporate Communications GmbH

Key word(s): Finance

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