Edenred: The Combined General Meeting of May 7, 2020 adopts all resolutions
07 Mai 2020 - 5:46PM
Edenred: The Combined General Meeting of May 7, 2020 adopts
all resolutions
Press releaseMay 7, 2020
The Combined General Meeting of May 7, 2020
adopts all resolutions
Edenred’s
Combined General Meeting was today held at the Group’s registered
office, chaired by Chairman and Chief Executive Officer Bertrand
Dumazy. Exceptionally, the Meeting took place without the physical
presence of shareholders, due to the Covid-19 epidemic and the
health measures taken by the French government in response. Thanks
to the system allowing shareholders to participate remotely prior
to the Meeting, the quorum stood at 79.57%.
The General Meeting adopted all the resolutions
proposed by the Board of Directors, notably:
- the payment of a dividend of €0.70 per share in respect of
2019, with the option of receiving payment of the entire dividend
in new shares1. The ex-dividend date is set at
May 13, 2020. Shareholders may opt for payment of the
dividend in new shares between May 15 and
May 29, 2020, inclusive. Shareholders that do not
exercise the option by May 29, 2020, inclusive, will
receive the total dividend in cash. The dividend will be payable
from June 5, 2020;
- the appointment of Alexandre de Juniac as a director;
- the renewal of the terms of office as directors of Jean-Paul
Bailly and Dominique D’Hinnin.
Therefore, Edenred’s Board of Directors now
comprises 11 members and complies with the
AFEP-MEDEF Code with regard to gender balance and director
independence. Directors whose names are followed by an asterisk (*)
are independent directors:
- Jean-Paul Bailly*
- Anne Bouverot*
- Sylvia Coutinho*
- Dominique D’Hinnin*
- Alexandre de Juniac*
- Bertrand Dumazy, Chairman and Chief Executive Officer
- Gabriele Galateri di Genola*
- Maëlle Gavet*
- Françoise Gri*, Lead Independent Director and Vice-Chairman of
the Board of Directors
- Jean-Bernard Hamel, employee director
- Jean-Romain Lhomme*
A group taking action alongside people
at work amid the Covid-19 epidemic
Faced with the impact of the Covid-19 epidemic
in the 46 countries where the Group operates, Edenred’s 10,000
employees are working hard on five priorities:
- Protecting the health of the
Group’s employees with the introduction of home-working
arrangements for 95% of the workforce, made possible thanks to
significant investments in digital tools in recent years;
- Guaranteeing excellent business
continuity and service quality for 850,000 clients, 50 million
users and 2 million partner merchants, through a leading-edge
technology platform, a large offer of digital solutions
representing more than 83% of consolidated business volume, and
established connections with around 50 of the biggest meal delivery
platforms;
- Quickly and agilely designing new
digital solutions to organize the distribution of earmarked funds
(i.e., funds dedicated to specific purposes) to cover fundamental
needs (Eat, Move, Care, Pay), in response to urgent demand from
some companies and governments;
- Limiting the impact of the crisis
on Edenred’s earnings by launching a €100 million cost-saving
plan in 2020 and revising intended capital expenditure for the year
downward, without compromising the Group’s capacity for
technological innovation or growth;
- Helping Edenred’s ecosystem to mitigate the consequences of the
Covid-19 epidemic, via local initiatives and the “More than Ever”
relief plan, through which the Group has pledged to commit up to
€15 million. The relief plan will notably be financed by:
- the 20% decrease in the dividend initially proposed for 2019,
to €0.70 per share;
- the reduction in the Chairman and Chief Executive Officer’s
compensation, in line with AFEP recommendations;
- the reduction in the compensation of the members of the Group’s
Executive Committee and Board of Directors.
A resilient group
A leading digital services and payments platform
and the everyday companion for people at work, Edenred has strong
fundamentals that will enable it to stay resilient through the
challenging times brought about by Covid-19 and create new
opportunities from the crisis:
- a high-growth profile and robust
financial position;
- offers covering essential needs
(Eat, Move, Care, Pay);
- a leading position on vastly
underpenetrated markets in 46 countries;
- a multilocal, agile
organization;
- an innovative digital offering
dedicated to delivering earmarked payment solutions.
A replay of the General Meeting, as well as the
detailed results of the votes, are accessible on Edenred’s website
(www.edenred.com, Investors/Shareholders section, then General
Meeting). A summary will be available online shortly.
▬▬
Edenred is a leading services
and payments platform and the everyday companion for people at
work, connecting 50 million employees and 2 million partner
merchants in 46 countries via more than 850,000 corporate
clients.
Edenred offers specific-purpose payment
solutions for food (meal vouchers), fleet and mobility (fuel cards,
commuter vouchers), incentives (gift vouchers, employee engagement
platforms) and corporate payments (virtual cards). These solutions
enhance employee well-being and purchasing power, improve
companies’ attractiveness and efficiency, and vitalize the
employment market and the local economy.
Edenred’s 10,000 employees are committed to
making the world of work a connected ecosystem that is safer, more
efficient and more user-friendly every day.
In 2019, thanks to its global technology assets,
the Group managed €31 billion in business volume, primarily carried
out via mobile applications, online platforms and cards.
Edenred is listed on the Euronext Paris stock
exchange and included in the following indices: CAC Next 20,
FTSE4Good, DJSI Europe and MSCI Europe.
For more information: www.edenred.com
The logos and other trademarks mentioned and
featured in this press release are registered trademarks of
Edenred S.A., its subsidiaries or third parties. They may not
be used for commercial purposes without prior written consent from
their owners.
Edenred is celebrating its tenth anniversary in
2020.
▬▬
CONTACTS
Communications Department Marie-Laurence
Bouchon+33 (0)1 86 67 20 08marie-laurence.bouchon@edenred.com
Media Relations Matthieu
Santalucia+33 (0)1 86 67 22 63matthieu.santalucia@edenred.com |
Investor
Relations Solène Zammito+33 (0)1 86 67 23
13solene.zammito@edenred.com Loïc Da Silva+33 (0)1 86
67 20 67loic.dasilva@edenred.com |
1 Disclaimer: The option to receive the
dividend payment in shares does not constitute an offer or a
solicitation to subscribe to or purchase securities in the United
States within the meaning of the U.S. Securities Act of 1933, or in
any other country where such transaction would be contrary to the
applicable laws and regulations. The option to receive the dividend
payment in shares is not available in certain countries, notably
those where such an option would require registration with, or
authorization from, the local securities regulator. Shareholders
residing outside France should inquire about and comply with any
local restrictions.
- 2020 05 07_Edenred_ 2020 General Meeting
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