6-K 1 a2150038z6-k.txt FORM 6-K FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 REPORT OF A FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES ACT OF 1934 For the month of January 2004 --------------------------------------------------------- Acetex Corporation -------------------------------------------------------------------------------- (Translation of registrant's name into English) 750 World Trade Centre, 999 Canada Place, Vancouver, British Columbia, Canada V6C 3E1 -------------------------------------------------------------------------------- (Translation of principal executive offices) [Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F] Form 20-F Form 40-F /X/ ----------- ----------- [Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes No /X/ ------------ ----------- [If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-______________] This Form 6-K consists of a press release announcing the results of the special meeting of Acetex Securityholders [ACETEX LOGO] FOR IMMEDIATE RELEASE ACETEX SECURITYHOLDERS APPROVE ARRANGEMENT VANCOUVER, BC, CANADA - JANUARY 12, 2005 - Acetex Corporation (TSX: ATX) announced that at the special securityholder meeting held earlier today, Acetex securityholders voted 99.95% in favour of the plan of arrangement (the "Arrangement") announced on October 27, 2004. Under the terms of the Arrangement, Celanese Corporation (formerly Blackstone Crystal Holdings Capital Partners (Cayman) IV Ltd.) ("Celanese"), through an indirect wholly-owned affiliate HNA Acquisition Inc., will acquire all of the issued and outstanding common shares of Acetex for CDN $9.00 cash per share. Acetex option and warrant holders are eligible to receive CDN $9.00 cash, less the exercise price of each option or warrant. Acetex will be operated as part of Celanese's global chemicals business. "We are very pleased to announce that the securityholders have approved the Arrangement", said Brooke N. Wade, Chairman and Chief Executive Officer of Acetex Corporation. "We continue to work toward obtaining the required regulatory approvals." THE TRANSACTION REMAINS SUBJECT TO REGULATORY AND JUDICIAL APPROVALS AND THE PROCESS FOR OBTAINING THESE APPROVALS IS ONGOING. THE OBLIGATION OF CELANESE TO COMPLETE A TRANSACTION IS ALSO SUBJECT TO THE SATISFACTION OF OTHER CUSTOMARY CONDITIONS DESCRIBED IN THE ARRANGEMENT AGREEMENT. CELANESE CORPORATION (FORMERLY BLACKSTONE CRYSTAL HOLDINGS CAPITAL PARTNERS (CAYMAN) IV LTD.), IS CONTROLLED BY A GROUP OF INVESTMENT FUNDS, WHICH ARE ADVISED BY THE BLACKSTONE GROUP, A LEADING GLOBAL INVESTMENT FIRM. ACETEX CORPORATION IS HEADQUARTERED IN VANCOUVER, CANADA. THE COMPANY OPERATES PRODUCTION FACILITIES IN FRANCE, SPAIN, AND CANADA, AND SELLS TO CUSTOMERS PRIMARILY IN EUROPE, THE UNITED STATES, AND CANADA. ACETEX'S COMMON SHARES ARE LISTED FOR TRADING UNDER THE SYMBOL ATX ON THE TORONTO STOCK EXCHANGE, WHICH HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN. INFORMATION IN THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS. BY THEIR NATURE, SUCH FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALITY FROM THOSE CONTEMPLATED BY THE FORWARD-LOOKING STATEMENTS. THEY INCLUDE WORLD WIDE ECONOMIC CONDITIONS, ACTIONS OF COMPETITORS, THE AVAILABILITY AND COST OF FEEDSTOCK, THE ABILITY TO IMPLEMENT BUSINESS STRATEGIES AND PURSUE BUSINESS OPPORTUNITIES, CONDITIONS IN THE CHEMICALS BUSINESS INCLUDING THE SUPPLY AND DEMAND FOR INDUSTRIAL CHEMICALS AND THE RISKS ATTENDANT WITH PRODUCING AND MARKETING INDUSTRIAL CHEMICALS AND CARRYING OUT MAJOR CAPITAL PROJECTS. FORWARD-LOOKING STATEMENTS IN THIS RELEASE ARE MADE PURSUANT TO THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. INVESTORS OF BOTH CELANESE AND ACETEX ARE CAUTIONED THAT ALL FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES, INCLUDING THOSE RISKS AND UNCERTAINTIES DETAILED IN THE FILINGS WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (SEC) AND THE APPLICABLE CANADIAN SECURITIES COMMISSIONS OF ACETEX AND WITH THE SEC OF CELANESE CORPORATION AND ITS SUBSIDIARY CELANESE AG, COPIES OF WHICH ARE AVAILABLE FROM THE COMPANIES. For further information contact: Lynn Haycock (604) 688-9600 or via e-mail at haycock@acetex.com. ------------------ SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ACETEX CORPORATION (Registrant) DATE: November 15, 2004 By: "Lori Bondar" ---------------------- Lori Bondar Chief Financial Officer

Plan Category Number of Acetex Shares to Weighted average exercise Number of options be issued upon exercise of price of outstanding remaining available for outstanding options options future issuance ------------------------------- ---------------------------- ---------------------------- ---------------------------- Equity compensation plans 3,534,471 $9.05 694,694 approved by Acetex Shareholders ------------------------------- ---------------------------- ---------------------------- ----------------------------

----------------------- -------- --------------------------------------------------- ----------------- ---------------- Annual Compensation Long-Term Compensation Awards ----------------------- -------- ------------------ --------------- ---------------- ----------------- ---------------- Name and Other Annual All Other Principal Compensation Options Compensation Position Year Salary Bonus ($) ($) Granted (#) ($) ----------------------- -------- ------------------ --------------- ---------------- ----------------- ---------------- Brooke N. Wade, 2003 $US 325,000 $US 162,500 NIL NIL NIL Chairman and Chief 2002 $US 318,271 $US 41,250 $US 9,426 NIL NIL Executive Officer 2001 $US 325,000 $US 165,000 NIL NIL NIL ----------------------- -------- ------------------ --------------- ---------------- ----------------- ---------------- Donald K. Miller, 2003 $CDN 240,000 $US 60,000 NIL NIL NIL Chief Financial 2002 $CDN 240,000 NIL $CDN 6,263 NIL NIL Officer 2001 $CDN 240,000 $CDN 150,000 NIL NIL NIL ----------------------- -------- ------------------ --------------- ---------------- ----------------- ---------------- Kenneth E. Vidalin, 2003 $US 250,000 $US 125,000 NIL NIL NIL President and Chief 2002 $US 243,271 $US 25,000 $US 9,254 NIL NIL Operating Officer 2001 $US 250,000 $US 100,000 NIL NIL NIL ----------------------- -------- ------------------ --------------- ---------------- ----------------- ---------------- Jean Pierre Soufflet 2003 $US 305,335 $US 90,470 $US 3,162 NIL NIL Vice President and 2002 $US 260,472 $US 90,181 $US 1,729 NIL NIL General Manager 2001 $US 241,810 $US 31,686 $US 1,638 $US100,000 NIL Acetex Chimie ----------------------- -------- ------------------ --------------- ---------------- ----------------- ---------------- Gary Connaughty 2003 $US145,833 $US 157,500 NIL NIL $US 719,7751 President AT Plastics (employment commenced August 6, 2003) ======================= ======== ================== =============== ================ ================= ================

------------------------- -------------------- --------------------- -------------------- ---------------------------- UNEXERCISED OPTIONS AT VALUE OF IN-THE-MONEY SECURITIES FY-END OPTIONS ACQUIRED ON AGGREGATE VALUE (#) AT FY-END EXERCISE REALIZED EXERCISABLE/ ($) NAME (#) ($) UNEXERCISABLE EXERCISABLE/ UNEXERCISEABLE (A) (B) (C) (D) (E) ------------------------- -------------------- --------------------- -------------------- ---------------------------- Brooke N. Wade NIL NIL NIL NIL ------------------------- -------------------- --------------------- -------------------- ---------------------------- Kenneth E. Vidalin NIL NIL 781,088/NIL Cdn$46,865 / NIL ------------------------- -------------------- --------------------- -------------------- ---------------------------- Donald K. Miller NIL NIL 250,000 / NIL Cdn$300,750/ NIL ------------------------- -------------------- --------------------- -------------------- ---------------------------- Jean Pierre Soufflet NIL NIL 175,000/25,000 Cdn$19,500 / Cdn$6,500 ------------------------- -------------------- --------------------- -------------------- ---------------------------- Gary Connaughty NIL NIL 29,166 / 83,332 Cdn $100,039 / Cdn $42,499 ------------------------- -------------------- --------------------- -------------------- ----------------------------

---------------- ------------------ --------------- ---------------- ---------------- --------------- ---------------- LENGTH OF MARKET PRICE ORIGINAL OF SECURITIES EXERCISE PRICE OPTION TERM SECURITIES AT TIME OF AT TIME OF REMAINING AT UNDER OPTION REPRICING OR REPRICING OR NEW EXERCISE DATE OF REPRICED OR AMENDMENT AMENDMENT PRICE REPRICING OR NAME DATE OF REPRICING AMENDED ($/SECURITY) ($/SECURITY) ($/ SECURITY) AMENDMENT ---------------- ------------------ --------------- ---------------- ---------------- --------------- ---------------- Gary Connaughty October 17, 2003 16,666 $5.25 $15.00 $6.10 7 years ---------------- ------------------ --------------- ---------------- ---------------- --------------- ---------------- Gary Connaughty October 17, 2003 20,833 $5.25 $13.62 $6.10 8 years ---------------- ------------------ --------------- ---------------- ---------------- --------------- ---------------- Gary Connaughty October 17, 2003 45,833 $5.25 $11.58 $6.10 9 years ---------------- ------------------ --------------- ---------------- ---------------- --------------- ----------------

--------------------- ------------------------------------------------------------------------------------------------ REMUNERATION YEARS OF SERVICE --------------------- ------------------------------------------------------------------------------------------------ $ 15 20 25 30 35 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------ 125,000 33,323 44,431 55,539 66,646 77,754 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------ 150,000 40,823 54,431 68,039 81,646 95,254 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------ 175,000 48,323 64,431 80,539 96,646 112,754 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------ 200,000 55,823 74,431 93,039 111,646 130,254 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------ 225,000 63,323 84,431 105,539 126,646 147,754 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------ 250,000 70,823 94,431 118,039 141,646 165,254 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------ 300,000 85,823 114,431 143,039 171,646 200,254 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------ 400,000 115,823 154,431 193,039 231,646 270,254 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------ 500,000 145,823 194,431 243,039 291,646 340,254 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------ 600,000 175,823 234,431 293,039 351,646 410,254 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------ 700,000 205,823 274,431 343,039 411,646 480,254 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------ 800,000 235,823 314,431 393,039 471,646 550,254 --------------------- ------------------ ------------------- ------------------ ------------------- ------------------

---------------------------------------------------------------------------------------------------------------------- AGGREGATE INDEBTEDNESS ($) ---------------------------------------------------------------------------------------------------------------------- PURPOSE TO ACETEX OR ITS SUBSIDIARIES TO ANOTHER ENTITY ---------------------------------------- -------------------------------------- -------------------------------------- (A) (B) (C ) ---------------------------------------- -------------------------------------- -------------------------------------- Share purchases Cdn $210,000 Nil ---------------------------------------- -------------------------------------- -------------------------------------- Other Nil Nil ---------------------------------------- -------------------------------------- --------------------------------------

ACETEX CORPORATION BLACKSTONE CRYSTAL HOLDINGS CAPITAL PARTNERS (CAYMAN) IV LTD. (signed) BENJAMIN J. JENKINS Per: (signed) BROOKE N. WADE Per: Benjamin J. Jenkins --------------------------------------------- --------------------------------- Name: Brooke N. Wade Name: Title: Chairman & Chief Executive Officer Title: President Per: --------------------------------------------- Name: Ken E. Vidalin Title: President & Chief Operating Officer

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