2007 - April

1.0
Management report
The following table outlines the various policies and their
level of cover:
guarantees acquired set against the expansion of the Group’s
activities, in terms of both their nature and their volume.
9. Information on the share capital and voting
rights
POLICY TYPE
Executive liability
Broker professional liability
Insurer
(External / Internal)
EXTERNAL
EXTERNAL
Cover
7.5 million euros (sub-cap of 3.75
million euros for non-seperable liability)
7 million euros or 7.6 million euros
depending on the business
of the company concerned
(all damages included)
Deductible
No deductible
15,000 euros or 150,000
euros depending on the
company concerned
Franchiser professional liability EXTERNAL 750,000 euros per claim 7,000 euros
Financial guarantee EXTERNAL 115,000 euros No deductible euros
Universal systems risks
Universal office risks
Supplementary health and
personal protection
EXTERNAL
EXTERNAL
INTERNAL (Axeria Prévoyance)
for personal protection
5,106,170 euros (cost of replacement
with new equipment)
Maximum commitment of up
to 13.6 million euros (as-new value
of furniture, material, goods)
Standard guarantee for management
and non-management staff
1,500 euros
1,804 euros
No deductible
Breakdown of the share capital and voting rights
In accordance with the provisions of Article L. 233-13 of the
French Commercial Code, and on account of the information
and notifications received pursuant to Articles L. 233-7
and L. 233-12 of the said Code, the shareholders directly
or indirectly owning more than 5%, 10%, 15%, 20%, 25%,
33.33%, 50%, 66.66% or 95% of the share capital or voting
rights at General Meetings are as follows:
At December 31 st , 2007:
Evolem (a majority of which is controlled by Bruno Rousset)
owned over 50% of the share capital and over 66.66% of
voting rights;
FMR Corp. and Fidelity Investment International, on behalf
of the mutual funds managed by their subsidiaries, own
more than 5% of the share capital and voting rights.
Shares held by these shareholders have not been pledged
In 2007, the following policies were fully overhauled by the
Risk Manager:
Broker professional liability;
Financial guarantee;
Banking and financial prospecting;
Universal office risks;
Universal IT risks.
The policies have been fully reviewed and new policies taken
out for 2008. The insurers selected for these new policies
are still outside of the Group. This review is in line with a
commitment to managing risk transfer costs more effectively
within the Group, combined with an optimization of the
Other specific risks
The risk factor identification process presented above and
more specifically the implementation of mapping processes
in virtually all of the Group’s operational companies made
it possible to identify a series of untreated operational or
strategic risks, both in-house and externally, with the level of
effective control assessed in each case.
On this basis, various internal control projects and potential
subjects for internal audits have been identified. In 2008,
they will be incorporated into the audit plans at Group,
division and company levels, based on an iterative quality
loop, with the risk mappings for 2008.
Changes to the breakdown of share capital and voting
rights in the fiscal year just ended
In 2007, to the best of the company’s knowledge, no
disclosure thresholds were passed.
Change in the market value of shares
APRIL GROUP’s share opened at 36.60 euros on January 2 nd ,
2007 and closed out the year on December 31 st 2007 at
46.15 euros, up 26.09% over the year.
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