PrimeStone Capital – Countermotions and election proposals ahead of the Annual General Meeting of Brenntag

EQS-Media / 15.05.2023 / 07:06 CET/CEST

LONDON, May 15, 2023 -- PrimeStone Capital LLP, a shareholder holding more than 2 % of Brenntag SE (ISIN DE000A1DAHH0, WKN A1DAHH), has sent countermotions and election proposals regarding agenda item 9 of the upcoming Annual General Meeting scheduled for June 15, 2023.

As outlined in PrimeStone’s letter dated April 18, 2023, Brenntag’s long-term performance and recent developments have raised serious concerns about the Supervisory Board’s oversight of Brenntag, Brenntag’s strategy, its operational performance and its overall governance. The most recent set of results unfortunately further highlights the urgency of the situation as performance, particularly in Specialties, deteriorates and the gap with the company’s pure-play peers widens.

The long-lasting lack of decisive strategic direction, flawed capital allocation decisions and lackluster business performance all make a compelling case for reinforcing the Supervisory Board and instilling a much-needed sense of urgency. Unfortunately, the incumbent members are entrenched and have so far refused to acknowledge the need for rejuvenation. Moreover, detached from the reality of the situation, they are proposing an astonishing overall increase of 46 % in their compensation. In this context, PrimeStone has sent the company countermotions and election proposals ahead of the Annual General Meeting.

You can find our countermotions and election proposals here:
https://revivebrenntag.com/

For media enquiries, please contact Charles Barker Corporate Communications:
primestone-cb@charlesbarker.de, +49 69 794090-25

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