by Daniel Webster, dWeb.News Publisher
BERWYN, Pa.–(BUSINESS WIRE)–Trinseo (NYSE: TSE), a global materials solutions provider and manufacturer of plastics and latex binders, today announced that it has completed a transaction to redomicile its parent company from Luxembourg to Ireland, by merger into an Irish public limited company, Trinseo PLC. At the June annual general meeting of shareholders, the merger was approved.
All ordinary shares of Trinseo S.A. were exchanged on a one for one basis for ordinary shares in Trinseo PLC. Trinseo shares are still listed on the New York Stock Exchange under ticker symbol TSE. No additional action is required by shareholders.
Trinseo and shareholders will benefit from the merger. This includes simplifying regulatory requirements and increasing capital flexibility such as increased authority to repurchase shares or issue new shares. It also provides dividend withholding tax benefits for shareholders. Trinseo will experience operational efficiencies and lower administrative costs.
Trinseo continues to operate the same business operations that were prior to the merger. Trinseo will continue to be subject to all U.S. Securities and Exchange Commission regulations and any applicable corporate governance rules.
Trinseo is a global material solutions provider and manufacturer, of plastics, and latex bindings. It focuses on creating value-creating, innovative, and sustainable products that are integral to our everyday lives. Trinseo strives to make a positive difference in society through partnerships with like-minded stakeholders and supporting our customers’ sustainability goals in a wide variety of end-markets, including automotive, consumer electronics and appliances, packaging, flooring, carpet, paper, board, building and construction, as well as packaging, footwear and other medical devices. Trinseo had approximately $3.0 billion in net sales in 2020 and has 26 manufacturing sites around the world and approximately 3,800 employees. For more information, please visit: www.trinseo.com.
Note on Forward-Looking Statements
This press release may contain forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts or guarantees or assurances of future performance. Forward-looking statements can be identified using words such as “expect”, “anticipate,”” “intend,” Note on Forward-Looking Statements]
This press release may contain forward-looking statements, including statements concerning plans, objectives goals, projections strategies and performance. Forward-looking statements are based upon management’s current expectations and assumptions about our business, our economy, and other future conditions. Forward-looking statements are dependent on uncertainties, risks, and changes that are hard to predict because they relate to the future. Factors that might cause such a difference include, but are not limited to, those factors discussed in our Annual Report on Form 10-K, under Part I, Item 1A –“Risk Factors” and elsewhere in our other reports, filings and furnishings made with the U.S. Securities and Exchange Commission from time to time. These and other factors could cause our actual results to differ materially from the ones in forward-looking statements. We caution you not to rely on these forward-looking statements. These forward-looking statements are only accurate as of the date they were made. Except as required by law, we are not obliged to revise or update any forward-looking statements.
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