Claranova Management Accompanies the Group’s Growth
08 Novembre 2018 - 6:00PM
Business Wire
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
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FINANCIEREAELIUM+33 1 75 77 54 65skennis@aelium.fr
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