Elior Group’s Shareholders’ Meeting approves new Group governance with a notable increase in the number of independent directors serving on the Board and a new management

At the Group’s Ordinary and Extraordinary Shareholders’ Meeting convened today, Elior Group shareholders voted in favor of all 34 resolutions proposed by the Board of Directors. As such the Shareholders’ Meeting approved:

  • The corporate and consolidated financial statements for fiscal 2016-2017, as well as all resolutions concerning compensation (Say on pay).
  • A dividend payout in the amount of €0.42 per share relative to fiscal 2016-2017, to be distributed on April 17, 2018 (ex-dividend date: March 16, 2018) with the option for shareholders to receive shares in lieu of a cash payment. The price of these new shares to be issued in payment of the dividend is set at €16.88, i.e. equal to 95% of the average of the trading prices of the twenty stock exchange trading days preceding the date of the Shareholders' Meeting, less the net amount of the dividend.
  • All resolutions concerning the governance of the company, notably the ratification of the appointment by cooptation of Gilles Cojan to serve as a director of the Company, and the appointments of Philippe Guillemot, Fonds Stratégique de Participations (represented by Virginie Duperat-Vergne) and Bernard Gault to serve as directors of the company.

As a result of today’s Ordinary and Extraordinary Shareholders’ Meeting, the governing structure of the Group has emerged stronger both in terms of balance and independence. Six of the ten directors serving on the Board are now independent.

This general approval is a sign of shareholder confidence in Elior Group’s new management team headed up by CEO Philippe Guillemot, who will be presenting the Group’s strategic plan on June 26, 2018.