2007 - Pinguely Haulotte

2007
annual report # p71-72
Excerpt of the management report to the annual general meeting
of April 22nd, 2008
PROPOSED APPROPRIATION OF INCOME FOR THE YEAR
Based on the profit for the year shown in the annual accounts of €51 138 788,70 increased by retained earnings of €67 586 974,50,
resulting in a distributable profit of €118 725 763,20 we propose the following appropriation of net income for the year:
- To the legal reserve €2 000,00 increased accordingly to €447 670,42 to be fully allocated
- To the distribution of a dividend of €0,22 per share, appropriated from net income of the period representing a total amount of
€7 393 255,76 in favour of 34 435 000 shares comprising the share capital at 31 December 2007, after excluding the 828 292 treasury
shares held by the company.(1)
(1) Subject to the stock options under the plans of 2002 and 2003 that are currently in force that may be exercised until the date of the meeting.
- The balance to "retained earnings" of €111 330 507,44
Concerning this dividend distribution, the Board of Directors specifies that this dividend of €0,22 per share is based on a total provisional
amount for distribution of €7 393 255,76 that takes into account only shares created at the closing date of 31 December 2007, and
including those resulting from the exercise of stock options granted by the Board of Directors' meetings of 2/07/2002 (78 060 stock
options of the 2002 plan exercised between 31 December 2006 and 31 December 2007) and 8 July 2003 (73 600 stock options of the
2003 plan exercised at 31 December 2007), or 151 660 new shares, and excluding the 828 292 treasury shares that in accordance with
article L.225-210 paragraph 4 of the French Commercial Code, do not carry rights to dividends.
The total number of new shares that may be created up until the date of the meeting called to approve the financial statements for
the fiscal year ended 31 December 2007 from the exercise of stock options under the plans of 2002 and 2003 may evolve up until the
date of said meeting. Based on the maximum number of 8 010 stock options under the 2002 plan and 41 150 stock options under the
2003 plan that remain exercisable after 31 December 2007, the general meeting will be asked to take into account the number of
shares existing on this date to determine the amount of dividends to be appropriated from the profit of the year and the balance to
be allocated to retained earnings for the payment of dividends to shareholders of €0,22 per share.
The dividend will be payable on 15 May 2008, it being specified that at the time of payment, the number of own shares held by the
company will be taken into account, with amounts corresponding to dividends attached to these shares not paid allocated to retained
earnings.
Shareholders who are natural persons who have not opted for the 18% flat-rate withholding tax excluding applicable social charges
qualify for a 40% tax allowance for dividends based on the total amount.
DIVIDENDS PAID FOR THE LAST THREE FISCAL YEARS
In accordance with article 243 bis of the French General Tax Code, information on dividends paid for the last three fiscal years is disclosed
below:
Fiscal year Income eligible for tax credit (avoir fiscal) Income not eligible Tax credit
Dividends Other distributions for tax credit 50%
2004 €0,10 0,05
Fiscal year Income eligible for tax allowance (abattement) Income not eligible Allowance for
Dividends Other distributions for tax allowance natural persons
2005 €0,13 40% rate : 0,052
2006 €0,17 40% rate : 0,068