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March 18 (yourpetrochemicalnews) -- BASF SE plans to convert its bearer shares to
registered shares. A proposal to this effect will be put to the shareholders at
the Annual Meeting of BASF SE on April 29, 2010. Registered shares
offer benefits for shareholders and the company. They facilitate even better and
more direct communication with shareholders and meet the wishes of many
shareholders for easy registering and issuance of proxies for the Annual
Meeting. The conversion will also generate savings, for example through the
sending of invitations to the Annual Meeting directly to shareholders.
Unless they object, owners of registered shares will have their name and number
of shares entered in the company’s share register.
The conversion will not have any affect on the legal position of shareholders
recorded in the share register. Their stake in the company remains unchanged and
their rights as shareholders will not be affected. Nor will the switch to
registered shares limit or complicate the purchase or sale of BASF shares for shareholders. If the annual
meeting approves the proposal, the conversion of the 918.5 million BASF shares will take place on August 2, 2010.
Shareholders will be informed by their custodian banks about the upcoming
conversion of bearer shares and entry in the share register.
mrcplast.com |
