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Apr 07, 2020
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07:00 CET - ROTTERDAM, The Netherlands
IMCD accelerates its Q1 trading update to April 20th and postpones its 2020 AGM
IMCD N.V. (“IMCD”), a leading distributor of speciality chemicals and food ingredients, today announces that it will accelerate publication of its Q1 trading update to April 20th (originally scheduled for May 7th). In addition, IMCD announces that it postpones its Annual General Meeting of Shareholders (also originally scheduled for May 7th) due to the developments surrounding the global COVID-19 virus outbreak.
During these uncertain times, IMCD’s first priority is to safeguard the health and safety of its employees and business partners. In response to the coronavirus outbreak, in all its locations worldwide, IMCD has implemented precautionary working practices allowing its employees and staff to work from home as much as possible. IMCD remains open for business and is committed to its vital role as distributor in supply chains. Through technology and strong digital capabilities, IMCD continues to serve and to keep close contact with its suppliers and customers.
For the purpose of informing the market as early as possible in these unprecedented times, IMCD will expedite the publication of its Q1 trading update. Publication will now take place before market opening on Monday April 20th, followed by an analyst conference call with IMCD’s CEO and CFO, as is customary at the occasion of results publications. IMCD did not observe a material adverse impact by COVID-19 on its first quarter results. With circumstances, however, developing rapidly, and the duration of the COVID-19 crisis being unpredictable, it is difficult to quantify the impact in the months to come. IMCD continues to monitor market conditions and the impact of COVID-19 on its business closely.
Piet van der Slikke, CEO of IMCD comments: “These are challenging times for everyone, however, I have full confidence that IMCD will again prove its resilience. Taking all necessary measures, our goal is to ensure that our employees and their families are safe. With our company’s diversified activities, asset light model, strong financial position, we will ensure that the continuity of our business is in place to offer full service and support to our partners."
Due to the health and safety risks currently associated with group meetings in person and taking into account the impact of international travel restrictions, IMCD has decided to postpone its AGM (scheduled to take place on May 7th). A new date for the meeting will be announced together with the Q1 trading update. The convocation and agenda for the new meeting will be published in accordance with the applicable statutory laws.
For the purpose of informing the market as early as possible in these unprecedented times, IMCD will expedite the publication of its Q1 trading update. Publication will now take place before market opening on Monday April 20th, followed by an analyst conference call with IMCD’s CEO and CFO, as is customary at the occasion of results publications. IMCD did not observe a material adverse impact by COVID-19 on its first quarter results. With circumstances, however, developing rapidly, and the duration of the COVID-19 crisis being unpredictable, it is difficult to quantify the impact in the months to come. IMCD continues to monitor market conditions and the impact of COVID-19 on its business closely.
Piet van der Slikke, CEO of IMCD comments: “These are challenging times for everyone, however, I have full confidence that IMCD will again prove its resilience. Taking all necessary measures, our goal is to ensure that our employees and their families are safe. With our company’s diversified activities, asset light model, strong financial position, we will ensure that the continuity of our business is in place to offer full service and support to our partners."
Due to the health and safety risks currently associated with group meetings in person and taking into account the impact of international travel restrictions, IMCD has decided to postpone its AGM (scheduled to take place on May 7th). A new date for the meeting will be announced together with the Q1 trading update. The convocation and agenda for the new meeting will be published in accordance with the applicable statutory laws.
To read the full press release, please click on the link
below:
PRESS RELEASE - IMCD accelerates its Q1 trading update and postpones its 2020 AGM