9 April, 2017

BURKARD FAMILY - PRESS RELEASE


Intentions of the Sika founding family Burkard ill-described

Baar - In an article of the Swiss Sunday paper SonntagsZeitung of earlier today, which has been picked up by various online media, the intentions of the Sika founding family Burkard are ill-described. It is incorrect that the Burkard family would entertain doubts regarding the transaction with Saint-Gobain. The Burkard family emphasizes that Saint-Gobain is the right partner for Sika and that the family is still willing to fulfil the contract as soon as possible. The family does not reconsider, nor does it doubt the purpose of the transaction with Saint-Gobain. The transaction is in fact very good for both Sika and Saint-Gobain. The Burkard family will not enter into negotiations about any alternative solutions with the current Board of Directors of Sika.

Fact is that the family has been approached with questions as to how it would respond in the unlikely scenario where - contrary to all expectations - SWH would not ultimately prevail in court. In this situation, as has been pointed out by the family consistently for some time, the Schenker-Winkler Holding (SWH) would remain the majority shareholder of Sika holding a majority of the votes and the family would continue to fully exercise all its rights (including its voting rights).

Urs Burkard notes: "Such attacks, which are designed to undermine our credibility, are expected before the Sika AGM. But this does not change the fact that we have found with Saint-Gobain the best long-term partner for Sika. Any alternative solutions proposed by Sika's Board of Directors are out of question for us."

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