On March 4, 2005 the EMS Group with its companies combined in EMS-CHEMIE HOLDING AG and with global activities in the fields of Performance Polymers and Fine Chemicals / Engineering announced the spin-off of the EMS-DOTTIKON business unit (exclusive synthesis specialist) into the holding company DOTTIKON ES HOLDING AG. Consequently, a tradable subscription right was allocated to each EMS registered share, whereby 20 subscription rights created an entitlement to purchase one registered share of DOTTIKON ES HOLDING AG against payment of the nominal value of this share (CHF 5 per share).