Annual Shareholders' Meeting of May 15, 2006 : All resolutions approved
Meeting of Holders of the 3.125 % 2010 OCEANE Bonds of May 15, 2006
Results of the Nexans employee share plan
Paris, May 15, 2006 - The Annual Shareholders' Meeting of Nexans, held on May 15, 2006, and presided by Gérard Hauser, Chairman and CEO, approved the payment of a dividend of 1 euro per share, compared to 0.50 euro per share in 2005. The dividend is scheduled to be paid on Friday, May 19, 2006.
All the proposed resolutions submitted to the meeting were approved.
Renewal of the term of office of Gérard Hauser
Amongst the resolutions which were approved at this meeting, the shareholders approved the renewal of the term of office of Gérard Hauser’s as Director until the Annual Shareholders Meeting which will be held to approve the 2009 accounts. The Board of Directors meeting held immediately after the May 15, 2006 Shareholders Meeting reappointed Gérard Hauser as Chairman and CEO until the first half of 2009. The Board of Directors, with the agreement of the Appointments and Compensation Committee, also appointed Frédéric Vincent to the newly created position of Chief Operating Officer. Frédéric Vincent was previously Nexans’ Chief Financial Officer. This decision takes effect immediately.
Conversion of OCEANE bonds accelerated
The meeting of the holders of convertible bonds (OCEANE) 3.125% July 15,2004 - January 1, 2010, also held on May 15, 2006, approved the amendment relating to the early redemption clause at the option of the issuer, in consideration of a payment of 1.80 euro per OCEANE bond to be paid on May18, 2006 to the bondholders of record on this date (based on the closing of the previous day). Nexans, therefore, announces its decision to redeem early all the outstanding OCEANE bonds, on June 16, 2006 at a redemption price of 38, 5401 € per OCEANE bond (interest included). This decision will be formally notified by way of publications in the Journal Officiel and a daily economic and financial newspaper scheduled for May 17, 2006. The bondholders may request, until June 7, 2006, that the bonds be converted into and/or exchanged for shares of Nexans at a ratio of one share per bond. The bondholders exercising their right to convert/exchange bonds for shares will be also entitled upon receipt of the shares, to interest for the period from January 1, 2006 until June 15, 2006 included, equal to 0.5401 € per OCEANE bond.
Increase in the number of Nexans’ shares held by employees
Nexans second employee share plan took place in the period from April 20th to May 3rd 2006. In total, 65 797 shares were subscribed to in an amount of 3 454 342,50 euros. Almost 1 500 employees subscribed, which translates into a global subscription rate of 9.55% in 21 countries. Nexans’ employees now hold 1.5% of the Group’s capital (compared to 0.48% in 2002, after the first Nexans’ employee share plan).
Nexans increased its capital on May 12, 2006, by an amount corresponding to the shares subscribed to under this second share plan.
This press release does not constitute a public offer for the purchase or exchange of securities whether in France, the United States of America or in any other jurisdiction.
- May 19, 2006: payment of dividend
- July 25, 2006: publication of first half 2006 sales and results
- October 3, 2006*: information meeting for individual shareholders in Versailles
- October 24, 2006*: information meeting for individual shareholders in Tours
- November 13, 2006*: information meeting for individual shareholders in Lyon
- December 7, 2006*: information meeting for individual shareholders in Montpellier
* provisional dates
Nexans is the worldwide leader in the cable industry. The Group brings an extensive range of advanced copper and optical fiber cable solutions to the infrastructure, industry and building markets. Nexans cables and cabling systems can be found in every area of people’s lives, from telecommunications and energy networks, to aerospace, automotive, railways, building, petrochemical, medical applications, etc. With an industrial presence in 29 countries and commercial activities worldwide, Nexans employs 20,000 people and had sales in 2005 of 5.4 billion euros. Nexans is listed on the Paris stock exchange. More information on www.nexans.com