Lagard?re: ideas of Wyser-Pratte rejected
The words are direct and hard. The supervisory board of Lagard?re did not take tweezers to reject a block all proposals made by the Franco-American investor Guy Wyser-Pratte, whose investment fund has the same name by 0.53% Capital Group since March 25 last. "The Council, meeting April 8, 2010, reviewed these projects and has unanimously decided to issue a negative opinion," said a statement released Friday.
The first application Guy Wyser-Pratte was on its entry to the supervisory board. The Council's primary duty "to express some surprise at the fact that Mr. Wyser-Pratte may wish to participate in one of the organs of governance that it considers anti-democratic and medieval."He then explained that the current composition of the board, whose members are "selected for their competence, experience and moral value" is fully operational and that therefore "the candidacy of Mr. Guy Wyser-Pratte would not add anything more to the smooth functioning "of the latter.
The sponsorship will
Another sore point was the will of Guy Wyser-Pratte to "soften" the operation of the Partnership. The supervisory board initially denounced the contradiction of what the investor who, in the press, does not evoke a simple reduction of the sponsorship but the transformation of the existing company limited by shares (SCA) Lagard?re limited company (SA) No teletrack payday loans.According to counsel, Guy Wyser-Pratte has clearly added: "It is imperative that the sponsorship disappear."
The withdrawal of the prior decision of the general partners would in any way harmful consequences on the management of the group, according to the latter. "It follows that the sponsors might have to look at a general meeting of the draft resolutions without knowing the views of partners and therefore potentially unaware of the outcome."This was rejected, then.
The release of the Supervisory Board ends with a piquant reminder of the "success" under its current operating Lagard?re: "Need I remind you that these initiatives that your group is now leading positions are his worldwide in each of its four branches? ", appeals to the Council.
In exchange, investors do not react to this new episode of Lagard?re / Wyser-Pratte. Around 12:45 pm, the Lagard?re shares are 0.61% to 31.21 euros in a market up 1.14%.
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