Connect - Schneider Electric
Connect - Schneider Electric Connect - Schneider Electric
ANNUAL AND EXTRAORDINARY SHAREHOLDERS’ MEETING 8 RESOLUTIONS > 4. Resolutions Ordinary Meeting FIRST RESOLUTION (Approval of the 2011 parent company financial statements) The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, having heard the report of the Management Board and of the Statutory Auditors, and noting the Supervisory Board’s comments on the Management Board’s report and on the Company fi nancial statements, approves the fi nancial statements for 2011 as presented, as well as the transactions contained in these statements or summarised in the reports showing a net income of EUR2,603.7 million. SECOND RESOLUTION (Approval of 2011 consolidated financial statements) The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Shareholders’ Meetings, having heard the report of the Management Board and of the Statutory Auditors, and noting the Supervisory Board’s comments on the Management Board’s report and on the Company consolidated fi nancial statements, approves the consolidated fi nancial statements for 2011 as presented, as well as the transactions contained in these statements or summarised in the reports. THIRD RESOLUTION (Apropriation of profit for the financial year and dividend proposal) The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, and on the recommendation of the Management Board, based on the number of 548,943,024 shares with a nominal value of EUR4 as of December 31, 2011, decides to appropriate the profi t available for distribution for the year 2011, consisting of: (i) retained earnings from the previous fi nancial year of EUR96,496,292.01; (ii) net income for the year of EUR2,603,738,064.30; (iii) less the statutory allocation to the legal reserve of EUR2,009,936.80; representing a total amount of EUR2,698,224,419.51, as follows: Share dividend EUR933,203,140.80 Retained earnings EUR1,765,021,278.71 TOTAL EUR2,698,224,419.51 The Shareholders’ Meeting therefore decides a dividend payment of EUR1.70 for each of the EUR4 par value shares carrying dividend rights on January 1, 2011. The full dividend proposed is eligible for the 40% allowance for individuals resident in France provided for in article 158-3-2 of the French Tax Code. This allowance will not apply if the shareholder 268 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC has chosen to pay the withholding tax on his or her dividends provided for in article 117 quarter of the French Tax Code. Unpaid dividends on treasury shares held at the ex-dividend date will be allocated to retained earnings. Apart from the dividend described above, no other amounts eligible or not eligible for the 40% allowance provided for in article 158-3-2 of the French Tax Code will be distributed. Dividend payouts for Schneider Electric SA for the last three years were as follows: 2008 2009 2010 Dividend paid per share of EUR8 par value (1) Dividend paid per share adjusted for the division by 3.45 2.05 3.20 two of the par value (2) 1.725 1.025 1.60 (1) The full dividend is eligible for a 40% allowance for individuals resident in France for tax purposes. No non-eligible dividends have been distributed. (2) The two-for-one share split occured on effective on September 2, 2011. FOURTH RESOLUTION (Approval of the arguments and regulated obligations made in 2012 relating to the top-hat defined benefit pension plan for Management Board members) The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, having heard the report of the Management Board and Statutory Auditor’s special report presented pursuant to the provisions of article L.225-88 of the French Commercial Code on agreements and obligations as per L.225-86, L.225-90-1 and L.225-79-1 of the Code, approves the obligations and the agreement presented in these reports relating to the top-hat pension plan with defi ned contributions for Management Board members. FIFTH RESOLUTION (Approval of the agreements and regulated obligations relating to the status of Jean- Pascal Tricoire) The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, having heard the report of the Management Board and Statutory Auditor’s special report presented pursuant to the provisions of article L.225-88 of the French Commercial Code on agreements and obligations as per L.225-86 and L.225-90-1 of the Code, approves the obligations and the agreement presented in these reports relating to the benefi t plan for Mr Jean-Pascal Tricoire, as well as the compensation and benefi ts due in case of cessation of duties.
SIXTH RESOLUTION (Renewal of the appointment of Mr Léo Apotheker as a member of the Supervisory Board) The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, renews the appointment of Mr Léo Apotheker as a member of the Supervisory Board for a period of four years, expiring at the close of the Shareholders’ Meeting in 2016 to approve the 2015 fi nancial statements. SEVENTH RESOLUTION (Ratification of the co-opting of Mr Xavier Fontanet and his appointment as a member of the Supervisory Board) The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, ratifi es the co-opting of Mr Xavier Fontanet as a member of the Supervisory Board with effect from December 15, 2011 and appoints him as a member of the Supervisory Board for a period of four years, expiring at the close of the Shareholders’ Meeting in 2016 to approve the 2015 fi nancial statements. EIGHTH RESOLUTION (Renewal of the appointment of Mr Jérôme Gallot as a member of the Supervisory Board) The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, renews the appointment of Mr Jérôme Gallot as a member of the Supervisory Board for a period of four years, expiring at the close of the Shareholders’ Meeting in 2016 to approve the 2015 fi nancial statements. NINTH RESOLUTION (Renewal of the appointment of Mr Willy Kissling as a member of the Supervisory Board) The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, renews the appointment of Mr Willy Kissling as a member of the Supervisory Board for a period of two years due to the new statutory provisions relating to the age of Board members, expiring at the close of the Shareholders’ Meeting in 2014 to approve the 2013 fi nancial statements. TENTH RESOLUTION (Renewal of the appointment of Mr Henri Lachmann as a member of the Supervisory Board) The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, renews the appointment of Mr Henri Lachmann as a member of the Supervisory Board for a period of two years due to the new statutory provisions with regard to the age of Board members, expiring at the close of the Shareholders’ Meeting in 2014 to approve the 2013 fi nancial statements. ANNUAL AND EXTRAORDINARY SHAREHOLDERS’ MEETING RESOLUTIONS ELEVENTH RESOLUTION (Renewal of the appointment of Mr Rick Thoman as a member of the Supervisory Board) The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, renews the appointment of Mr Rick Thoman as a member of the Supervisory Board for a period of two years due to the new statutory provisions relating to the age of Board members, expiring at the close of the Shareholders’ Meeting in 2014 to approve the 2013 fi nancial statements. TWELFTH RESOLUTION* (Nomination of a Supervisory Board member to represent the employee shareholders pursuant to article 11- c of the articles of association). The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, nominates Mr Manfred Brill to replace Mr Claude Briquet, whose appointment has expired, as a member of the Supervisory Board representing the employee shareholders for a period of four years, pursuant to article 11- c of the articles of association, expiring at the close of the Shareholders’ Meeting in 2016 to approve the 2015 fi nancial statement. THIRTEENTH RESOLUTION* (Renewal of the appointment of a Supervisory Board member to represent the employee shareholders pursuant to article 11- c of the articles of association). The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, renews the appointment of Mr Claude Briquet, member of the Supervisory Board representing the employee shareholders, whose appointment has expired, as a member of the Supervisory Board representing the employee shareholders for a period of four years, pursuant to article 11- c of the articles of association, expiring at the close of the Shareholders’ Meeting in 2016 to approve the 2015 fi nancial statement. FOURTEENTH RESOLUTION* (Nomination of a Supervisory Board member to represent the employee shareholders pursuant to article 11- c of the articles of association). The Shareholders’ Meeting, acting with the quorum and majority requirements for Ordinary Meetings, nominates Mrs Magali Herbaut to replace Mr Claude Briquet, whose appointment has expired, as a member of the Supervisory Board representing the employee shareholders for a period of four years, pursuant to article 11- c of the articles of association, expiring at the close of the Shareholders’ Meeting in 2016 to approve the 2015 fi nancial statement. 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 269 8
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ANNUAL AND EXTRAORDINARY SHAREHOLDERS’ MEETING<br />
8 RESOLUTIONS<br />
> 4. Resolutions<br />
Ordinary Meeting<br />
FIRST RESOLUTION<br />
(Approval of the 2011 parent company<br />
financial statements)<br />
The Shareholders’ Meeting, acting with the quorum and majority<br />
requirements for Ordinary Meetings, having heard the report of the<br />
Management Board and of the Statutory Auditors, and noting the<br />
Supervisory Board’s comments on the Management Board’s report<br />
and on the Company fi nancial statements, approves the fi nancial<br />
statements for 2011 as presented, as well as the transactions<br />
contained in these statements or summarised in the reports<br />
showing a net income of EUR2,603.7 million.<br />
SECOND RESOLUTION<br />
(Approval of 2011 consolidated financial<br />
statements)<br />
The Shareholders’ Meeting, acting with the quorum and majority<br />
requirements for Ordinary Shareholders’ Meetings, having heard<br />
the report of the Management Board and of the Statutory Auditors,<br />
and noting the Supervisory Board’s comments on the Management<br />
Board’s report and on the Company consolidated fi nancial<br />
statements, approves the consolidated fi nancial statements for<br />
2011 as presented, as well as the transactions contained in these<br />
statements or summarised in the reports.<br />
THIRD RESOLUTION<br />
(Apropriation of profit for the financial year<br />
and dividend proposal)<br />
The Shareholders’ Meeting, acting with the quorum and<br />
majority requirements for Ordinary Meetings, and on the<br />
recommendation of the Management Board, based on the<br />
number of 548,943,024 shares with a nominal value of EUR4 as of<br />
December 31, 2011, decides to appropriate the profi t available for<br />
distribution for the year 2011, consisting of:<br />
(i) retained earnings from the previous fi nancial year of<br />
EUR96,496,292.01;<br />
(ii) net income for the year of EUR2,603,738,064.30;<br />
(iii) less the statutory allocation to the legal reserve of<br />
EUR2,009,936.80;<br />
representing a total amount of EUR2,698,224,419.51, as follows:<br />
Share dividend EUR933,203,140.80<br />
Retained earnings EUR1,765,021,278.71<br />
TOTAL EUR2,698,224,419.51<br />
The Shareholders’ Meeting therefore decides a dividend payment<br />
of EUR1.70 for each of the EUR4 par value shares carrying dividend<br />
rights on January 1, 2011.<br />
The full dividend proposed is eligible for the 40% allowance for<br />
individuals resident in France provided for in article 158-3-2 of the<br />
French Tax Code. This allowance will not apply if the shareholder<br />
268 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC<br />
has chosen to pay the withholding tax on his or her dividends<br />
provided for in article 117 quarter of the French Tax Code.<br />
Unpaid dividends on treasury shares held at the ex-dividend date<br />
will be allocated to retained earnings.<br />
Apart from the dividend described above, no other amounts eligible<br />
or not eligible for the 40% allowance provided for in article 158-3-2<br />
of the French Tax Code will be distributed.<br />
Dividend payouts for <strong>Schneider</strong> <strong>Electric</strong> SA for the last three years<br />
were as follows:<br />
2008 2009 2010<br />
Dividend paid per share of<br />
EUR8 par value (1) Dividend paid per share<br />
adjusted for the division by<br />
3.45 2.05 3.20<br />
two of the par value (2) 1.725 1.025 1.60<br />
(1) The full dividend is eligible for a 40% allowance for individuals<br />
resident in France for tax purposes. No non-eligible dividends<br />
have been distributed.<br />
(2) The two-for-one share split occured on effective on<br />
September 2, 2011.<br />
FOURTH RESOLUTION<br />
(Approval of the arguments and regulated<br />
obligations made in 2012 relating to the<br />
top-hat defined benefit pension plan for<br />
Management Board members)<br />
The Shareholders’ Meeting, acting with the quorum and majority<br />
requirements for Ordinary Meetings, having heard the report of<br />
the Management Board and Statutory Auditor’s special report<br />
presented pursuant to the provisions of article L.225-88 of the<br />
French Commercial Code on agreements and obligations as per<br />
L.225-86, L.225-90-1 and L.225-79-1 of the Code, approves the<br />
obligations and the agreement presented in these reports relating to<br />
the top-hat pension plan with defi ned contributions for Management<br />
Board members.<br />
FIFTH RESOLUTION<br />
(Approval of the agreements and regulated<br />
obligations relating to the status of<br />
Jean- Pascal Tricoire)<br />
The Shareholders’ Meeting, acting with the quorum and majority<br />
requirements for Ordinary Meetings, having heard the report of<br />
the Management Board and Statutory Auditor’s special report<br />
presented pursuant to the provisions of article L.225-88 of the<br />
French Commercial Code on agreements and obligations as per<br />
L.225-86 and L.225-90-1 of the Code, approves the obligations<br />
and the agreement presented in these reports relating to the benefi t<br />
plan for Mr Jean-Pascal Tricoire, as well as the compensation and<br />
benefi ts due in case of cessation of duties.