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First annual
shareholder's meeting of May 25, 1999
(Paris, May 25, 1999)
Rhodia's first annual joint shareholders' ordinary and extraordinary
meeting, held on May 25, 1999, approved all of the proposed resolutions.
The shareholders'
meeting approved the company's financial statements and the proposed
dividend of euro 0,2 per share, to which 0,1 tax credit was added.
The dividend will be paid in cash beginning June 30, 1999.
The shareholders'
meeting elected two new board members : Mr. Pierre-Gilles de Gennes,
winner of the Nobel Prize for chemistry, Member of the "Académie
des Sciences", Professor in the "College de France",
Director of the "Ecole de Physique et de Chimie" and
Scientist Director for Chemical-physics of Rhône-Poulenc,
and Mr. Jean-Jacques Bertrand, Vice President and Member of the
Executive Committee of Rhône-Poulenc, President of Pasteur-Merieux-Connaught.
It also approved
the share buy back programme, amounting to a maximum of 10 % of
the Company's capital, which is validated by the Commission des
Opérations de Bourse (COB).
Jean-Pierre
Tirouflet, Chairman and CEO of Rhodia said "with a net income
of euro 189 million, we are in line with what we have promised
to our shareholders for 1998. The dividend we are going to distribute
represents a share of 30% of the net income in line with the expectation
I announced when we began trading on the Paris stock exchange
in June 1998 ; we expect to maintain this share for the next years.
In addition, I confirm our forecast for 75% net income growth
for 1999, in spite of an unfavourable economic climate in the
first quarter of 1999."
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Rhodia, one
of the world leaders in specialty chemicals, contributes to improving
the quality of life by developing value-added products, services
and solutions for the beauty, clothing, foodstuffs and healthcare
markets as well as for the environment, transport and industry.
Rhodia employs 23,500 people worldwide and recorded sales of 5,5
billion Euros in 1998. Rhodia has been listed on the Paris and
New York stock exchanges since June 25th, 1998.
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