AkzoNobel NV, AKZA

AkzoNobel today convenes an Extraordinary General Meeting of Shareholders (EGM) of Akzo Nobel N.V. to be held at Hilton Hotel, Apollolaan 138, 1077 BG Amsterdam, the Netherlands, on Friday, September 8, 2017 starting at 14.00 CET.

25.07.2017 - 07:03:15

AkzoNobel convenes EGM and actions to improve shareholder relations

July 25, 2017

AkzoNobel today convenes an Extraordinary General Meeting of Shareholders (EGM) of Akzo Nobel N.V. to be held at Hilton Hotel, Apollolaan 138, 1077 BG Amsterdam, the Netherlands, on Friday, September 8, 2017 starting at 14.00 CET.

The agenda items are as follows:

1. Appointment of Mr. T.F.J. Vanlancker as member of the Board of Management (voting point) 2. Further explanation and discussion regarding AkzoNobel's response to the unsolicited and non-binding proposals made by PPG in March/April 2017 (discussion point)

In addition to the EGM, AkzoNobel also announces a range of measures designed to strengthen and maintain a constructive dialogue with its shareholders, including:

* The creation of a Supervisory Board committee for shareholder relations * David Mayhew and team from JP Morgan Cazenove appointed as advisor for shareholder relations * Senior Executive remuneration to be aligned to the new financial plan * Program of meetings to introduce new CEO * Augmented schedule of roadshows and conferences * Enlarged program of analyst and investor webcasts and events Antony Burgmans, Chairman of the Supervisory Board, commented:

"AkzoNobel values its relationship with shareholders and takes its responsibility towards them very seriously. In recent months this relationship, with a particular group of shareholders, has been impacted by events surrounding the Company.

"We have actively reached out to our shareholders to create a plan to strengthen our relationship. This has included feedback from 285 meetings and calls with over 200 investors that have been held in the past six months and a shareholder survey conducted in June of investors holding more than 42% of the total shareholding.

 "As part of our enhanced shareholder relations plan we will host an EGM on 8 September. In addition to this, we have appointed David Mayhew and team from JP Morgan Cazenove as a special advisor to a newly established Supervisory Board committee on shareholder relations. We will increase our program of webcasts and events for analysts and investors, which will augment our ongoing schedule of roadshows and management meetings. Senior Executive remuneration will be aligned to the new financial plan.

"I am also able to confirm today that, barring any exceptional circumstances, I intend to retire as planned and in-line with the Dutch corporate governance code, from my position as Chairman of the Supervisory Board of AkzoNobel, following the completion of my third term in office in April 2018. A process is now underway to identify my successor.

"All our stakeholders are important and the Supervisory Board and the management team look forward to continued engagement with shareholders as we deliver on our strategy to accelerate growth and value creation."

For more information on the EGM and the agenda items, we refer to the Agenda with explanatory notes and the EGM Notice. AkzoNobel will also update on the timing of shareholder approval for the separation of Specialty Chemicals. These documents can be found on the AkzoNobel corporate website (www.akzonobel.com).

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About AkzoNobel AkzoNobel creates everyday essentials to make people's lives more liveable and inspiring. As a leading global paints and coatings company and a major producer of specialty chemicals, we supply essential ingredients, essential protection and essential color to industries and consumers worldwide. Backed by a pioneering heritage, our innovative products and sustainable technologies are designed to meet the growing demands of our fast-changing planet, while making life easier. Headquartered in Amsterdam, the Netherlands, we have approximately 46,000 people in around 80 countries, while our portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon and Eka. Consistently ranked as a leader in sustainability, we are dedicated to energizing cities and communities while creating a protected, colorful world where life is improved by what we do. Not for publication - for more information

AkzoNobel Media Relations AkzoNobel Investor Relations

T: 31 (0)88 969 7833 T 31 (0)88 969 7590

Contact: Diana Abrahams Contact: Lloyd Midwinter

Safe Harbor Statement This press release contains statements which address key issues such as AkzoNobel's growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latest annual report, a copy of which can be found on our website: www.akzonobel.com.

Media Release EGM: http://hugin.info/130660/R/2122692/809448.pdf

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: AkzoNobel NV via GlobeNewswire

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