General Meeting of Ciba Holding Inc.
- Merger agreement with BASF Specialty Chemicals Holding GmbH approved
- Ciba Holding Inc. to be dissolved on entry of the merger in the Commercial Register
- Shareholders to receive cash compensation of CHF 50 per share
Basel, Switzerland. – June 23, 2009. At the Annual General Meeting of Ciba Holding Inc., held at the Congress Center Basel on June 23, 2009, the shareholders approved by a large majority all the motions proposed by the Board of Directors. The 29 shareholders in attendance represented 67,439,961 of the votes, or 97.65 percent of the 69,064,617 registered shares.
The shareholders voted in favor of the merger of BASF Specialty Chemicals Holding GmbH as the receiving company and Ciba Holding Inc. as the transferring company with cash compensation and approved the merger agreement concluded by the two companies on May 15, 2009. Ciba Holding Inc. will be dissolved on entry of the merger in the Commercial Register. Cash compensation of CHF 50 per share will be paid out for all remaining shares of Ciba Holding Inc., subject to successful registration of the merger within the next seven days.
In addition, the shareholders endorsed the proposal of the Board of Directors not to pay out any dividends and voted for the discharge of the Board of Directors and the management from liability for their activities in 2008. Dr. Hans-Ulrich Engel, Dr. Jörg Buchmüller und Hans-Walther Reiners were all re-elected as Members of the Board for a term of four years or until the merger is officially entered in the Commercial Register, in accordance with the merger agreement.
Ciba (SWX: CIBN), part of BASF since April 2009, is a leading global company dedicated to producing high-value effects for its customers’ products. We strive to be the partner of choice for our customers, offering them innovative products and one-stop expert service. We create effects that improve the quality of life – adding performance, protection, color and strength to plastics, paper, automobiles, buildings, home and personal care products and much more. Ciba is active in more than 120 countries around the world and is committed to being a leader in its chosen markets. In 2008, the Company’s continued operations generated sales of CHF5.9 billion and it invested more than CHF 230 million in R&D. Further information on Ciba is available on the Internet at www.ciba.com.
About BASFBASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics and performance products to agricultural products, fine chemicals as well as oil and gas. As a reliable partner BASF helps its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF posted sales of more than €62 billion in 2008 and had approximately 97,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.
Phone: +41 61 636 41 61
Fax: +41 61 636 30 19
Phone: +49 621 60-20829
Fax: +49 621 60-92693