Invitation to Claranova SA’s Annual Ordinary and Extraordinary General Shareholders’ Meeting on November 29, 2018

Regulatory News:

Firmly set on a growth path, the Claranova (Paris:CLA) group recently announced Q1 2018/2019 revenue of €48.2 million, up 61%. This excellent performance, driven by the consolidation of the Avanquest’s division Canadian acquisitions and especially the acceleration of organic growth (+33 %), once again demonstrated that all the Group’s businesses are on the right course.

Confident in the Group’s future and outlook, Pierre Cesarini and Sébastien Martin, Chairman and member of the Management Board, respectively, wish to accompany this strong momentum. They have therefore decided, in agreement with the Supervisory Board, to forego the grant of the 18,185,000 free shares1 reserved for them.

This decision aims to reduce the accounting impact of these grants on Claranova’s financial performance. These grants would have led to the recognition of employer social security contributions estimated2 at over €5 million, automatically reducing Claranova’s operating profitability, without any link to the development of its activities. The Group’s cash position can more than cover this transaction without worsening its financial position, however management considers this amount could be better used to push forward the Group’s growth.

In return, the Supervisory Board approved the payment of an exceptional bonus of K€1,700 for Pierre Cesarini and K€430 for Sébastien Martin, as partial compensation for the loss resulting from this waiver. Payment of these exceptional bonuses remains contingent on their approval by shareholders at the Annual Ordinary and Extraordinary General Shareholders’ Meeting on November 29, 20183.

Procedures for providing preparatory documents

Claranova group shareholders are hereby invited to the Annual Ordinary and Extraordinary General Shareholders’ Meeting to be held at 10 a.m. on November 29, 2018, at the Company’s head office located at 89 boulevard National, Immeuble Vision Défense, 92250 La Garenne-Colombes.

The preliminary notice of meeting with the agenda and resolutions presented to the General Shareholders’ Meeting was published in the Bulletin des Annonces Légales Obligatoires (BALO) (French Journal of Mandatory Legal Announcements) of October 24, 2018. The procedures for participating and voting at this Meeting are presented in this notice. The notice of meeting will appear in the coming days in the BALO and a legal notices gazette.

The notice of meeting and all the documents and information stipulated in Article R.225-73-1 of the French Commercial Code may be consulted on the company’s website: http://claranova.fr/investors/shareholder-meeting.php

A Supervisory Board report supplementing the corporate governance report may be consulted from today at the Company’s head office and in its website: www.claranova.com.

The other documents and information relating to this Meeting are also available to shareholders under the applicable legal and regulatory conditions.

About Claranova:

Claranova is a French technology group operating in three major business sectors: mobile services through its PlanetArt division, Internet of Things (IoT) through its myDevices division and monetizing Internet traffic through its Avanquest division. A truly global internet and mobile player, Claranova reported annual revenue in excess of €160 million, generated over 90% internationally. Its businesses are:

  • PlanetArt: A world leader in mobile printing, specifically via its FreePrints and Photobook applications – the cheapest and simplest solutions in the world for printing photos and creating photo albums from a smartphone;
  • myDevices: A global platform for IoT (Internet of Things) management, myDevices allows its partners to commercialize turnkey solutions (“IoT in a Box”) to their customers. Ready-to-use solutions are available for roll-out in the medical, hotel, food and beverage, retail and education sectors thanks to these offerings;
  • Avanquest: A specialist in monetizing Internet traffic through cross-cutting solutions, Avanquest boosts its customer impact through cross-selling offerings that maximize Internet traffic while ensuring the most efficient monetization possible.

1 14,548,000 shares for Pierre Cesarini and 3,637,000 shares for Sébastien Martin.

2 Based on the average share price over the 30 trading days preceding the Board’s decision approving the bonus.

3 Claranova recalls that Pierre Cesarini and Sébastien Martin respectively hold, directly and indirectly, 24,956,885 and 330,500 Company shares, representing 6.34% and 0.08% of the share capital and 8.08% and 0.08% of voting rights, respectively.

CODESTicker : CLAISIN : FR0004026714www.claranova.com

ClaranovaANALYSTES - INVESTISSEURS+33 1 41 27 19 74contact@claranova.comorCOMMUNICATION FINANCIEREAELIUM+33 1 75 77 54 65skennis@aelium.fr

Claranova (EU:CLA)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024 Plus de graphiques de la Bourse Claranova
Claranova (EU:CLA)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024 Plus de graphiques de la Bourse Claranova