Demerger update: Demerger effective
Vesuvius plc (“Vesuvius”) is pleased to announce that the Demerger of its Performance Materials division to Alent plc has become effective.
Admission of the Alent Shares to the premium listing segment of the Official list and to trading on the London Stock Exchange's main market for listed securities, under the ticker ALNT, is expected to occur at 8.00 a.m. on Wednesday 19 December 2012. CREST accounts will be credited with Alent Shares at the same time and certificates in respect of Alent Shares will be despatched by 2 January 2013.
From 8.00 a.m. on Wednesday 19 December 2012 Vesuvius will trade on the London Stock Exchange's main market for listed securities under the ticker VSVS.
A detailed timetable of events is set out in the circular sent to Cookson Group plc shareholders dated 1 November 2012 (the "Circular").
Copies of the Circular are available for inspection during normal business hours on any business day at the offices of Linklaters LLP, One Silk Street, London EC2Y 8HQ, up to the date on which the Proposals set out in the Circular are fully implemented.
Capitalised terms used in this announcement have the meanings given to them in the Circular.
François Wanecq, Chief Executive of Vesuvius, stated:
“With the demerger process now completed, I am very pleased to be leading Vesuvius forward as a stand-alone, fully focused global leader in metal flow engineering. Despite the near-term macroeconomic challenges, Vesuvius is now well positioned to keep growing its addressable markets, to leverage its strong presence in developing regions, to improve margins and to deliver superior returns for its shareholders over the long term.”
Vesuvius is a global leader in metal flow engineering, developing, manufacturing and marketing mission-critical ceramic consumable products and systems to demanding applications, primarily in the global steel and foundry industries. Vesuvius also supplies fabricated precious metals to the jewellery industry in Europe and has significant precious metals recycling operations.
Alent is a leading global supplier of advanced surface treatment plating chemicals and electronics assembly materials. The principal end-market is global electronics production which accounts for approximately three-quarters of net sales value with the automotive and industrial end-markets the balance.
Vesuvius Tel: +44 (0)20 7822 0000
François Wanecq, Chief Executive
Chris O'Shea, Chief Financial Officer
Rachel Fell, Company Secretary
Maddy Cox-Smith, Investor Relations Manager
MHP Communications Tel: +44 (0)20 3128 8100
Vesuvius plc, 165 Fleet Street, London EC4A 2AE
Registered in England and Wales No. 8217766