Notification to Creditors, Employees and Shareholders
Omya CZ s.r.o., ID No.: 451 92 715, with registered seat: č.p. 765, 790 61 Lipová-lázně, registered in the Commercial Register maintained by Regional court in Ostrava, File C 41821 (the “Demerging Company”); and
Omya Performance Polymer Distribution (Czechia) s.r.o., ID No.: 240 36 943, with registered seat: street no. 765, 790 61 Lipová-lázně, registered in the Commercial Register maintained by Regional Court in Ostrava, File C 101775 (the “Successor Company 1”);
Omya Specialty Materials (Czechia) s.r.o., ID No.: 240 37 133, with registered seat: street no. 765, 790 61 Lipová-lázně, registered in the Commercial Register maintained by Regional Court in Ostrava, File C 101785 (the „Successor Company 2“);
(each separately the “Participating Company”; jointly also the “Participating Companies”),
in connection with a corporate transformation by way of a demerger by spin-off by merger, under which the demerged parts of the assets and liabilities of the Demerging Company will be transferred to the Successor Company 1, or the Successor Company 2, as relevant (the “Transformation”),
announce the filing of the project of demerger by spin-off by merger (the “Transformation Project”) in the Collection of Documents of the relevant Commercial Register of the Participating Companies pursuant to Section 33(1) of Act No. 125/2008 Coll., on Transformations of Commercial Companies and Cooperatives (the “TA”).
The Participating Companies hereby, in connection with the Transformation, publish this notification to creditors regarding their rights set out in Sections 35 to 39 of the TA:
a. Creditors who register their unmatured claims within 3 months from the date of publication of the Transformation Project may request the provision of adequate security if, as a result of the Transformation, the recoverability of their unmatured claims arising from obligations incurred prior to the publication of the Transformation Project would be impaired; the same applies mutatis mutandis to future or contingent claims. Upon the fruitless expiry of this period, this right lapses.
b. If no agreement is reached between a creditor and a Participating Company to the Transformation on the manner of securing the claim, the court shall, upon the creditor’s petition, which substantiates facts indicating that the Transformation will impair the recoverability of its claim, establish adequate security. The court shall establish adequate security according to equitable discretion with regard to the nature and amount of the claim.
c. The establishment of adequate security shall be decided by the court by resolution. The effects of the security arise no earlier than on the date on which the registration of the transformation in the Commercial Register becomes effective vis-à-vis third parties.
d. The right to adequate security must be asserted before the court within 3 months from the date of publication of the Transformation Project, otherwise it lapses. Filing the petition does not prevent the registration of the Transformation in the Commercial Register.
e. Creditors who have a right to preferential satisfaction of their claims in insolvency proceedings, or who are deemed secured creditors for the purposes of insolvency proceedings, do not have the right to the provision of adequate security.
f. The Participating Companies have not issued any convertible or preference bonds, nor any other participation securities or book-entered participation securities other than shares; Section 37 of the TA shall not apply.
g. The Participating Companies have not issued any bonds; Section 38 of the TA shall not apply.
The Participating Companies further draw the attention of their shareholders to the rights under Section 285 of the TA.
Given that the Participating Companies have the same sole shareholder and further that both Participating Companies form part of the same corporate group, the Transformation will have no effect on the shareholder of the Participating Companies, and it is therefore not necessary to adopt measures to protect its rights.
As a consequence of the implementation of the Transformation, the rights and obligations arising from employment relationships shall pass in the extent of the Transformation Project from the Demerging Company to the Successor Company 1 or the Successor Company 2, as relevant. The existing employees of the Demerging Company shall become employees of the Successor Company 1, or the Successor Company 2, as relevant, and all rights and obligations arising from employment relationships in relation to these employees shall transfer from the Demerging Company to the Successor Company 1, or the Successor Company 2, as relevant, in the extent of the Transformation Project.
At the registered office of each of the Participating Companies, the following documents are available for inspection for at least 1 month prior to the date set for the general meeting that is to decide on the approval of the Transformation:
(i) the Transformation Project;
(ii) the financial statements of the Participating Companies for the last 3 accounting periods, if the Participating Company has existed for such period, or the financial statements of its legal predecessor, if the Participating Company had a legal predecessor, and the auditors’ reports on their audit, if required; and
(iii) the final financial statements and opening balance sheets of the Participating Companies and the auditors’ reports on their audit, if required.
The Participating Companies shall, upon request, provide the shareholder of the Participating Companies without undue delay and free of charge a copy or extract of the documents listed above; if the shareholder of the Participating Companies agrees that the Participating Companies may use electronic means to provide information, copies of the documents may be sent to it electronically. Consent may be given in any manner evidencing such intention of the shareholder of the Participating Companies.
Omya CZ s.r.o.
Omya Performance Polymer Distribution (Czechia) s.r.o.
Omya Specialty Materials (Czechia) s.r.o.