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Holders of our Series A preferred stock are entitled to receive dividends on their Series A preferred stock in the form of shares of Platform’s common stock equal to 20% of the appreciation of the market price of Platform’s common stock over our initial public offering price of $10.00 multiplied by the total initial public offering shares. In 2014, the dividend price was $22.85 (calculated based upon the average of the last ten trading days of the year’s volume weighted average share prices), and the shares were issued based on the volume weighted average price of $23.16 on December 31, 2014. In subsequent years, the dividend amount will be calculated based on the appreciated stock price compared to the highest dividend price previously used in calculating the Series A preferred stock dividends. Dividends are paid as long as Series A preferred stock are outstanding. The life of the Series A preferred stock can be extended up to 3 years at the request of our founders and with the consent of the Board. Each share of Series A preferred stock is convertible into one Platform’s share of common stock at the option of the holder and has certain voting rights.
We were incorporated with limited liability under the laws of the British Virgin Islands under the BVI Companies Act on April 23, 2013 under the name Platform Acquisition Holdings Limited. Platform was created for the purpose of acquiring a target company or business with an anticipated enterprise value of between $750 million and $2.5 billion. On October 31, 2013, we completed the acquisition of substantially all of MacDermid, Incorporated a global provider of high value-added specialty chemicals, and changed our name to "Platform Specialty Products Corporation." Subsequently, in January 2014, we domesticated and became a Delaware corporation listed on the New York Stock Exchange (the "NYSE") under the ticker symbol “PAH.”
As our name “Platform Specialty Products Corporation” implies, we continually seek opportunities to act as an acquirer and consolidator of specialty chemical businesses on a global basis, particularly those meeting Platform’s “Asset-Lite, High-Touch” philosophy, which involves prioritizing extensive resources to research and development and highly technical customer service, while managing conservatively our investments in fixed assets and capital expenditures. Subsequent to the acquisition of MacDermid, Incorporated, Platform completed three additional acquisitions: Percival S.A., including its agrochemical business, Agriphar, on October 1, 2014, the AgroSolutions business of Chemtura Corporation on November 3, 2014, and Arysta LifeScience Limited on February 13, 2015.
We completed our initial public offering on May 22, 2013 raising net proceeds of $881.2 million from preferred and ordinary shares. Our initial listing was on the London Stock Exchange. On January 23, 2014, we began trading on the NYSE. Our ticker symbol is PAH.
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