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PCAS: Change of shareholders at Seqens - Appointment of a new Chief Executive Officer

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  • PCA.PA

Ecully, December 16, 2021

CHANGE OF SHAREHOLDERS AT SEQENS

APPOINTMENT OF A NEW CHIEF EXECUTIVE OFFICER


Seqens announced on December 16, 2021 that the funds advised by SK Capital have become majority shareholders of the Group – alongside BPI France, Nov Santé Actions Non Cotées, Mérieux Equity Partners, Ardian, Eximium, and the executive management of Seqens.

Concurrent with this investment, Seqens has combined with Wavelength Pharmaceuticals, an API manufacturer and CDMO group company, an existing SK Capital portfolio group company. Seqens has also divested its non-core Mineral Specialties activities

By decision of December 10, 2021, pursuant to Financial Markets Authority’s general regulation- article 234-9-8°, the Financial Markets Authority granted an exemption from the obligation to file a project of public offering to buy back PCAS shares after investment funds advised by SK Capital took a controlling interest in the Seqens group.

Moreover, Mr. Pierre Luzeau had held the position of Chief Executive Officer since the meeting of the Board of Directors on March 23, 2020 – which decided to combine temporarily the functions of Mr. Pierre Luzeau as Chairman and Chief Executive Officer.

The meeting of the Board of Directors of December 16, 2021 noted the resignation of Mr. Pierre Luzeau from his duties as Chief Executive Officer. The Board of Directors is delighted that Mr. Pierre Luzeau had accepted to remain as Chairman of the Board of the Directors and that the Company continued to benefit from his successful experience in both positions and from his attachment to the Group.

The Board of Directors, at the meeting of December 16, also appointed Mr. Philippe Clavel as Chief Executive Officer for an indefinite period. Mr. Philippe Clavel will, therefore, support the PCAS teams during the continued deployment of transformation plans needed for modernization but also to improve reliability of operations, while developing new technological expertise.

Mr. Philippe Clavel has spent a substantial part of his career within the Sanofi group, where he managed the Active Ingredient Solution business. He has a significant knowledge of the API and CDMO market, and he will be able to support the PCAS teams in facing future challenges, thanks to his experience, commitment and expertise.

Mr. Philippe Clavel will be remunerated in accordance with the remuneration policy detailed in the Board of Directors’ corporate governance report, which was presented at the General Meeting on June 9, 2021.


ABOUT PCAS

PCAS specializes in the development and production of complex molecules for life sciences and innovative technologies. With about 10% of net sales earmarked for R&D and a large international footprint, PCAS is the preferred industrial partner for major market-leading global groups. Boasting especially high standards, the company offers a growing range of proprietary products and solutions in cutting-edge segments. PCAS generated net sales of €194.1 million in 2020 and employs nearly 1,100 people in six countries.

To find out more about PCAS: www.pcas.com


PCAS

NewCap



Pierre Luzeau / Eric Moissenot



Emmanuel Huynh / Louis-Victor Delouvrier
Financial Communication and Investor Relations

Tel.: +33 1 69 79 60 00
www.pcas.com

Tel.: +33 1 44 71 98 53
pcas@newcap.eu

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