34. Subsequent events

The Board of Directors of CPH Chemie + Papier Holding AG has proposed to the company’s shareholders to acquire Uetikon Industrieholding AG, which is presently the company’s largest shareholder, via a merger by absorption. Under the merger proposal, the shareholders of Uetikon Industrieholding AG will exchange their shares therein for a commensurate number of shares in CPH Chemie + Papier Holding AG, newly giving them a direct CPH shareholding. The proposal will be submitted to the shareholders concerned for approval at an Extraordinary General Meeting in early June 2021.

No further events occurred between 31 December 2020 and 12 February 2021 which would require adjustments to the book values of the Group’s assets, equity and liabilities or would need to be divulged here. There are also no exceptional pending business items or risks which would need to be mentioned in the income statement.

The Board of Directors approved these consolidated financial statements at its meeting of 12 February 2021. They are also subject to the approval of the Ordinary General Meeting.