Michelin:Michelin will hold its Annual Shareholders Meeting behind closed doors on June 22, 2020 and is reducing the amount o...
01 Avril 2020 - 06:00PM
Michelin:Michelin will hold its Annual Shareholders Meeting behind
closed doors on June 22, 2020 and is reducing the amount of the
proposed 2019 dividend to €2 versus €3.85 initially
Press
ReleaseClermont-Ferrand – April 1, 2020 – 6 :00pm
COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS
MICHELIN
Michelin will hold its Annual Shareholders Meeting
behind closed doors on June 23, 2020 and is reducing the
amount of the proposed 2019 dividend to €2 versus €3.85
initially |
In the current global health crisis, the
Michelin Group has implemented all of the measures necessary for
the health and safety of its employees and their loved ones.
In response to social distancing measures and
restrictions on movement, the Group will, exceptionally, hold its
Annual Shareholders Meeting behind closed doors and without
shareholders in physical attendance, at 9:00 am (CEST) on June 23,
2020(1). Shareholders may however follow the Meeting, which will be
broadcast via video conference on the corporate website
www.michelin.com, and are highly encouraged to vote remotely ahead
of the Meeting. The rules concerning this Meeting will be detailed
in the Notice of Meeting, which will be published shortly, and may
also be consulted at www.michelin.com.
In a commitment to optimally balance the
interests of all its stakeholders, the Group has decided to reduce
the amount of the proposed 2019 dividend to €2, compared with the
initially announced €3.85, with payment scheduled for July 3,
2020.
Since the beginning of the crisis, the Group has
taken all of the initiatives required to attenuate as much as
possible the negative impact of the crisis on segment operating
income and free cash flow. The Group has the financing sources and
mechanisms in place to deal with the uncertainty surrounding the
crisis.
(1) This
decision has been made in response to the current health crisis, in
light of stepped up government measures requiring residents to stay
indoors and public places to close. It is consistent with Article 4
of French government order No. 2020-321 dated March 25, 2020
on the adaptation of rules of assembly and deliberation.
Investor Relations Édouard de
Peufeilhoux+33 (0) 4 73 32 74 47+33 (0) 6 89 71 93 73
(mobile)edouard.de-peufeilhoux@michelin.com Humbert de
Feydeau+33 (0) 4 73 32 68 39+33 (0) 6 82 22 39 78
(mobile)humbert.de-feydeau@michelin.com Pierre Hassaïri+33
(0) 4 73 32 95 27+33 (0) 6 84 32 90 81
(mobile)pierre.hassairi@michelin.com |
Media Relations Hervé Erschler +33 (0) 1 45
66 22 22+33 (0) 6 70 47 85 04 (mobile)herve.erschler@michelin.com
Pascale Audibert + 33 0 (6) 34 09 82
67pascale.audibert@michelin.com Individual
Shareholders Isabelle Maizaud-Aucouturier +33
(0) 4 73 32 23 05isabelle.maizaud-aucouturier@michelin.com
Clémence Rodriguez +33 (0) 4 73 32 15
11clemence.daturi-rodriguez@michelin.com |
DISCLAIMER
This press release is not an offer to
purchase or a solicitation to recommend the purchase of Michelin
shares. To obtain more detailed information on Michelin, please
consult the documents filed in France with Autorité des marchés
financiers, which are also available from the
www.michelin.com
website.
This press release may contain a number of forward-looking
statements. Although the Company believes that these statements are
based on reasonable assumptions as at the time of publishing this
document, they are by nature subject to risks and contingencies
liable to translate into a difference between actual data and the
forecasts made or inferred by these statements.
- 20200401_Michelin_Annual Shareholders meeting behind close
doors and dividend reduction_EN
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