Calling of meetings in the framework of the agreement signed with largest shareholder Madeco
Paris, September 20, 2011 – The Board of Directors met yesterday following confirmation by its largest shareholder, Chilean group Madeco, that it effectively owns more than 19% of the Company’s shares and voting rights.
In accordance with Nexans undertakings under the agreement signed with Madeco on March 27, 2011, and approved by the General Shareholders’ Meeting on May 31, 2011, the Board of Directors has decided to call a Combined General Shareholders’ Meeting on Thursday, November 10, at 9:00 am (Capital 8 Auditorium, 32 rue de Monceau, Paris 8th, France).
In accordance with the agreement, the shareholders will be asked to approve the appointment of a third Madeco representative to the Board of Directors, namely Mr. Hubert Porte, and the update of the clauses in the Nexans bylaws regarding the use of voting rights.
For the purpose in particular of cancelling double voting rights provided under the bylaws of the Company, the Board has called a special meeting of the holders of double voting rights on the same day, that is, Thursday, November 10, at 9.45 AM (same address).
The complete version of the agreement signed with Madeco is available on the Nexans Internet site at the following address: www.nexans.com/madecoagreement
* Hubert Porte, 47, is Executive Chairman of Ecus Private Equity SA investment fund, which was founded in 2004 and is dedicated to investments in Chile through private equity fund Axa Capital Chile I. Hubert Porte is Chairman of the Board of Directors of Chilean companies Albia, Central Frenos and Loginsa and is member of the Board of Vitamina. He is also general partner of Latin American Asset Management Advisors Ltd (LAAMA), also founded in 2004 and currently the exclusive distributor for Chilean pension funds of Axa Investment Managers’ mutual funds and for which LAAMA currently manages over 1 billion US dollars.
- October 27, 2011: third quarter 2010 financial information
- November 23rd, 2011: Individual shareholder meeting in Toulouse*
* Provisional date subject to change
With energy as the basis of its development, Nexans, worldwide leading expert in the cable industry, offers an extensive range of cables and cabling systems. The Group is a global player in the infrastructure, industry, building and Local Area Network markets. Nexans addresses a series of market segments: from energy, transport and telecom networks to shipbuilding, oil and gas, nuclear power, automotives, electronics, aeronautics, material handling and automation.
Nexans is a responsible industrial company that regards sustainable development as integral to its global and operational strategy. Continuous innovation in products, solutions and services, employee development and engagement, and the introduction of safe industrial processes with limited environmental impact are among the key initiatives that place Nexans at the core of a sustainable future.
With an industrial presence in 40 countries and commercial activities worldwide, Nexans employs 23,700 people and had sales in 2010 of more than 6 billion euros. Nexans is listed on NYSE Euronext Paris, compartment A. For more information, please consult www.nexans.com or http://www.nexans.mobi