11 unchanged sentences
The availability, cost and terms of credit have been, and may continue to be, adversely affected by the foregoing factors and these circumstances have produced, and may in the future result in, illiquid markets and wider credit spreads, which may make it difficult or more expensive for us to obtain credit.
−Removed: The level of inflation and energy costs may result in an adverse impact to the group’s results from employee wages and other costs of operations of our manufacturing sites.
+Added: The level of inflation and energy costs may result in an adverse impact on the group’s results from employee wages and other costs of operations of our manufacturing sites.
Continuing uncertainties in the U.S.
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The implementation is a phased, risk-managed, site deployment following a multistage user acceptance program with the existing platforms providing a fallback position.
−Removed: We have implemented the new platform for a number of our sites across EMEA and ASPAC in the third quarter of 2024.
+Added: In 2025 and 2024 we have implemented the new platform for a number of our sites across EMEA, ASPAC and the Americas.
In connection with this implementation, the Company has updated, and continues to update, its internal controls over financial reporting, as necessary, to accommodate modifications to its business processes and accounting procedures.
2 unchanged sentences
Furthermore, the potential for problems with any of our integrated and stand-alone information technology systems, including communication technologies, could negatively impact our customers, suppliers and employees.
−Removed: As a result, there could be a consequential adverse impact on our results of operations and financial condition.
+Added: As a result, there could be a consequential adverse impact on our results of operations, financial condition and cash flows.
Decline in our AvGas business.
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Federal Aviation Administration (“FAA”) program (Piston Aviation Fuels Initiative) has been established to identify a replacement fuel, and candidate fuels are undergoing testing.
−Removed: In 2022, the FAA created a new team named Eliminate Aviation Gasoline Lead Emissions (“EAGLE”).
+Added: In 2022, various general aviation industry groups in conjunction with the US EPA and FAA created a new team named Eliminate Aviation Gasoline Lead Emissions (“EAGLE”).
This is a government-industry partnership that also encompasses fuel producers and distributors, airport operators, communities that support general aviation airports, and environmental experts.
−Removed: The most significant announcement impacting the Company is the stated aim of EAGLE to eliminate lead emissions from general aviation in the U.S.
−Removed: by the end of 2030.
−Removed: There are also regulatory actions underway for the
−Removed: E.U., which are proposing a ban on the production of leaded fuel for the aviation industry earlier than the FAA timetable, unless an authorization under E.U.
−Removed: REACH is granted to the fuel producer.
+Added: The most significant announcement impacting the Company is the stated aim of EAGLE to eliminate lead emissions from general aviation in
+Added: by the end of 2030 with Alaska having a derogation out to end 2032.
+Added: Regulatory action in the EU on the prohibition of TEL use by EU based leaded avgas blenders under the EU REACH Regulations has resulted in three users successfully applying for EU REACH Authorization permitting continued TEL use until end of April 2032.
While we expect that at some point in the future a replacement fuel will be identified, trialed and supplied to the industry, there is no currently available alternative.
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Should any tax authority disagree with our estimates and determine any additional tax liabilities, including interest and penalties for us, this could adversely impact our results of operations, financial position and cash flows.
−Removed: In 2021, the Organization for Economic Cooperation and Development (“OECD”) released Pillar Two Global Anti-Base Erosion model rules (“Pillar Two Rules”), designed to ensure large corporations are taxed at a minimum rate of 15% in all countries of operation.
−Removed: Although the U.S.
−Removed: has not enacted legislation implementing Pillar Two Rules, other countries where Innospec does business, including the U.K., have enacted legislation implementing Pillar Two Rules, which came into effect from January 1, 2024.
−Removed: We have evaluated the Pillar Two Rules and their impact on the current and future periods, and we have determined that the Pillar Two Rules do not have a material impact on the Company’s effective tax rate in the current period, and we do not expect the rules to have a material impact on the Company’s effective tax rate in future periods.
Our products are subject to extensive government scrutiny and regulation.
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We are also subject to ongoing reviews of our products, manufacturing processes and facilities by government authorities, and must also produce product data and comply with detailed regulatory requirements.
−Removed: In order to obtain regulatory approval of certain new products we must, among other things, demonstrate that the product is appropriate and effective for its intended uses, that the product has been appropriately
−Removed: tested for safety and that we are capable of manufacturing the product in accordance with applicable regulations.
+Added: In order to obtain regulatory approval of certain new products we must, among other things, demonstrate that the product is appropriate and effective for its intended uses, that the product has been appropriately tested for safety and that we are capable of manufacturing the product in accordance with applicable regulations.
This approval process can be costly, time consuming, and subject to unanticipated and significant delays.
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Such outcomes could adversely impact our results of operations, financial position and cash flows.
−Removed: Diverse chemical regulatory processes in different countries around the world might create complexity and additional cost.
−Removed: REACH, which was precipitated by the U.K.’s exit from the E.U., is one such example.
Legal proceedings and other claims could impose substantial costs on us.
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and other jurisdictions in which we operate may result in new or additional requirements, additional charges to fund energy efficiency activities, fees or restrictions on certain activities.
−Removed: Compliance with these initiatives may also result in
−Removed: additional costs to us, including, among other things, increased production costs, additional taxes, reduced emission allowances or additional restrictions on production or operations.
+Added: Compliance with these initiatives may also result in additional costs to us, including, among other things, increased production costs, additional taxes, reduced emission allowances or additional restrictions on production or operations.
Any climate change regulations enacted in the future could also negatively impact our ability to compete with companies situated in areas not subject to such limitations.
1 unchanged sentence
We may not be able to recover the cost of compliance with new or more stringent laws and regulations, which could adversely affect our business and negatively impact our growth.
−Removed: Furthermore, the potential impacts of climate change and related regulation on our customers are highly uncertain and may adversely affect us.
+Added: Furthermore, the potential impacts of climate change and related regulation on our customers are highly uncertain and may adversely affect our results of operations, financial position and cash flows.
Key Third-Party Relationships
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dollar have fluctuated in recent years and may continue to do so.
−Removed: We cannot accurately predict future exchange rate variability among these currencies or relative to the U.S.
+Added: We cannot accurately predict future exchange rate variability among
+Added: these currencies or relative to the U.S.
While we take steps to manage currency exchange rate exposure, including entering into hedging transactions, we cannot eliminate all exposure to future exchange rate variability.
1 unchanged sentence
A high concentration of significant stockholders may have a material adverse impact on our stock price.
−Removed: Approximately 45% of our common stock is held by four stockholders.
+Added: Approximately 37% of our common stock is held by three stockholders.
A decision by any of these, or other substantial, stockholders to sell all or a significant part of its holding, or a sudden or unexpected disposition of our stock, could result in a significant decline in our stock price.
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Section 22 of the Securities Act of 1933 (“Securities Act”) creates concurrent jurisdiction for federal and state courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder.
−Removed: Our stockholders will not be deemed by operation of our choice of forum provision to have waived our compliance with the federal securities laws and the regulations promulgated thereunder.
+Added: Our stockholders will not be deemed by operation of our choice of forum provision to have waived our compliance with the federal securities laws and the
+Added: regulations promulgated thereunder.
The selection of legal jurisdiction for litigation claims may impact the outcome of legal proceedings which could in turn impact our results of operations, financial position and cash flows.
10 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.