ChemChina Completes First Settlement of Tender Offers For Syngenta
Date Posted: May 18, 2017
Basel, Switzerland (May 18, 2017) - China National Chemical Corporation (ChemChina) Thursday announced the successful completion of the First Settlement of ChemChina’s tender offers for Syngenta.
Shareholders who tendered their shares by May 4, 2017 received the consideration of US $465 per share, and holders of American Depositary Shares ("ADSs") who tendered their ADSs received US$93 per ADS, on May 18, 2017.
Shareholders who tender their shares or ADSs by the end of the Additional Acceptance Period on May 24, 2017 will receive the same consideration in the Second Settlement. The Second Settlement is expected to occur on June 7, 2017.
In addition, a dividend of CHF 5 per share was paid to all shareholders on May 16, 2017.
The prospective timetable for the closing of the offers is as follows: End of the Additional Acceptance Period, Wednesday, May 24, 2017; Provisional notice of the end result of the Offer, Friday, May 26, 2017 (at the latest); Definitive notice of the end result of the Offer, Wednesday, May 31, 2017; and Second Settlement, Wednesday, June 7, 2017.
Further, as soon as permitted by law and applicable regulations, it is intended to de-list the shares from the SIX and to de-list the ADSs from the NYSE.