|
Who can vote?
Any shareholder present in person or by proxy.
How do you vote?
If you own registered shares, you can vote simply by attending the AGM and presenting your entrance card. If you own bearer shares, in addition to presenting your entrance card, the company must have received a certificate from your financial intermediary to the effect that your shares have been placed in a blocked account.
Who proposes the resolutions?
The Board of Directors. However, one or more shareholders owning at least 5% of the capital may table a draft resolution no later than ten days after the notice of meeting has been published in the BALO legal journal. The meeting may not consider a resolution which is not on the agenda. However, it can always dismiss one or more Directors and elect replacements.
What is a quorum?
The minimum number of shares which must be represented at the meeting by shareholders attending in person or by proxy.
For an ordinary general meeting, the quorum is one quarter of the shares with voting rights. If the quorum is not reached, the meeting is adjourned to a later date, when no quorum is required. For an extraordinary general meeting, the quorum is one third of the shares with voting rights and one quarter for an adjourned meeting.
Who can call a general meeting?
The Board of Directors usually calls general meetings, but they may also be called by the statutory auditors or a group of shareholders owning at least 5% of the shares whether in registered or bearer form.
What resolutions are tabled on the agenda?
At an ordinary general meeting, the shareholders vote on the company’s financial statements, allocation of earnings and proposed dividend, election and re-election of Directors, appointment or re-appointment of auditors, and share buybacks. At extraordinary general meetings, the shareholders vote on amendments to the company’s by-laws, capital increases or reductions, terms of a merger with another company, and the grant of stock options to certain employees.
How do you know when a meeting is due to take place?
At least 35 days before the scheduled date, the company is required to publish an announcement of the meeting in the BALO (Bulletin des annonces légales obligatoires) legal journal. Two weeks before the scheduled date, the company must publish a notice of meeting in a legal gazette indicating the date, place and time of the meeting. At the same time, the company sends holders of registered shares an entrance card and notice of meeting containing the agenda, together with a copy of the annual report.
How do you table a written question?
By sending the question to the company by registered mail.
Do all shares carry the right to vote?
The principle is one vote per share for all Faurecia bearer shares. Treasury shares owned by the company itself are not eligible for vote. Like many companies, Faurecia frequently grants double voting rights to registered shares held by the same person for at least two years.
How do you vote by mail or by proxy?
If you cannot attend the meeting, you should obtain a proxy form from the company which enables you to vote by mail or to appoint your spouse, another shareholder or the company’s Chairman as proxy to vote in your place. |
