January 25, 2024
(press release)
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Avantium N.V. Below you will find information from the register publication of inside information. The information has been provided by the organisation. Registration date 24 jan 2024 - 18:04 Statutory name Avantium N.V. Title Avantium shareholders adopt all resolutions at 2024 Extraordinary General Meeting of Shareholders 202401240000000008_20240124 Avantium shareholders adopt all resolutions at 2024 Extraordinary General Meeting of Shareholders_final.pdf (opens in a new window) Date last update: 25 January 2024 Attachments Disclaimer Avantium NV published this content on 24 January 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2024 08:38:32 UTC . Avantium shareholders adopt all resolutions at 2024 Extraordinary General Meeting of Shareholders AMSTERDAM, 24 January 2024, 18:00 hrs CET – Avantium N.V., a leading company in renewable and circular polymer materials, is pleased to announce that its shareholders have granted the requested approvals for all items on the agenda of today’s Extraordinary General Meeting (EGM). Approval was granted for the authorisation to the Management Board to issue up to €50 million in ordinary shares in connection with an equity raise, which can be increased by up to 20 million, as well as for the authorisation to the Management Board to issue warrants in relation to the increase of the Debt Facility. The green light from the shareholders allows Avantium to raise €50 million in equity capital, which is expected to cover Avantium’s funding requirement related to the financing package for Avantium Renewable Polymers and to remain properly capitalised until the FDCA Flagship Plant is operating at its full capacity. This could be increased by up to €20 million, allowing Avantium to further strengthen its financial profile. Avantium has appointed ABN AMRO Bank N.V. and Bryan, Garnier & Co as joint global coordinators to lead this equity raise. The Company is already in multiple constructive discussions with existing and potential new investors and expects to announce further updates on the equity raise in due course. Avantium CFO Boudewijn van Schaïk comments: “We are very pleased that our shareholders support our financing plan, as announced on our Capital Markets Day held on 13 December 2023. Approving the intended capital raise is fundamental for remaining well capitalised until our FDCA Flagship Plant is fully commercially operational. It will create a solid financial basis on which we can execute our strategy to create sustainable value.” Voting results The EGM took place on Wednesday 24 January 2024. In total 16,304,957 shares, representing 38% of the total number of shares outstanding on the record date of the meeting, were represented at the EGM and voted on the resolutions. The agenda items proposed for adoption in the Meeting were voted on as follows: Agenda item 2.a. The EGM authorised the Management Board to issue up to €70 million in ordinary shares in connection with an equity raise and to limit or exclude pre-emptive rights in respect thereof. In favour Against Abstained 16,232,090 49,672 23,195 99.69% 0.31% Agenda item 2.b. The EGM authorised the Management Board to issue Warrants and to limit or exclude pre-emptive rights in respect thereof in relation to the increase of the Debt Facility. In favour Against Abstained 16,223,032 58,472 23,453 99.64% 0.36% Agenda item 2.c. The EGM adopted the amended Articles of Association to increase the authorised share capital of Avantium to allow for the issuances of ordinary shares. In favour 16,217,604 99.63% About Avantium Against Abstained 59,547 27,806 0.37% Avantium is a pioneering commercial-stage company focused on renewable & circular polymer materials. Avantium develops and commercialises innovative technologies for the production of materials based on sustainable carbon feedstocks, i.e. carbon from biomass or carbon from the air (CO2). The most advanced technology is the YXY® Technology that catalytically converts plant-based sugars into FDCA (furandicarboxylic acid), the key building block for the sustainable plastic PEF (polyethylene furanoate). Avantium has successfully demonstrated the YXY® Technology at its pilot plant in Geleen, the Netherlands, and is currently constructing of the world's first commercial plant for FDCA, with large-scale production of PEF expected in 2024. Avantium also provides R&D solutions in the field of sustainable chemistry and is the leading provider of advanced catalyst testing technology and services to accelerate catalyst R&D. Avantium works in partnership with like-minded companies around the globe to create revolutionary renewable chemistry solutions from invention to commercial scale. Avantium’s shares are listed on Euronext Amsterdam and Euronext Brussels (symbol: AVTX). Avantium is incorporated in the Euronext Amsterdam SmallCap Index (AScX). Its offices and headquarters are in Amsterdam, the Netherlands. This announcement is not an offer of securities for sale into the United States. The securities of Avantium N.V. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States. No public offering of securities is being made in the United States.Avantium N.V.
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