2007 - Pinguely Haulotte
2007 - Pinguely Haulotte
2007 - Pinguely Haulotte
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<strong>2007</strong><br />
annual report # p75-76<br />
Excerpt of the management report to the annual general meeting<br />
of April 22nd, 2008<br />
OFFICERS: Michel BOUTON<br />
APPOINTMENTS HELD IN THE COMPANY: Director<br />
APPOINTMENTS HELD IN OTHER COMPANIES:<br />
- Chairman of PVI,<br />
- Chairman of PVI HOLDING<br />
- Chairman and Chief Executive Officer of Escal (subsidiary of PVI),<br />
- Chairman of Sovibus (majority shareholder of PVI).<br />
OFFICERS: Bertrand BADRE<br />
APPOINTMENTS HELD IN THE COMPANY: Director<br />
APPOINTMENTS HELD IN OTHER COMPANIES: None.<br />
Compensation of corporate officers<br />
Corporate officers Fixedcompensation<br />
in euros *<br />
<strong>2007</strong> 2006<br />
Pierre SAUBOT 175 500 162 500<br />
Alexandre SAUBOT 169 000 156 000<br />
Variable compensation<br />
in euros *<br />
<strong>2007</strong> 2006<br />
Pierre SAUBOT 80 000 50 000<br />
Alexandre SAUBOT 110 000 90 000<br />
Benefits in-kind<br />
Pierre SAUBOT None<br />
Alexandre SAUBOT None<br />
(*) Compensation includes total amounts received including<br />
benefits of any nature, in this case paid by the controlling company,<br />
Solem.<br />
No compensation has been paid by the company for serving<br />
as corporate officers. Only travel expenses for attending Board<br />
meetings are reimbursed on the basis of vouchers. Corporate<br />
officers do not benefit from a special pension scheme.<br />
The company has made no commitment of any nature in favour<br />
of corporate officers constituting components of compensation,<br />
indemnities or other benefits payable or that could be payable<br />
in connection with the assumption, termination or change of<br />
these appointments or subsequent thereof.<br />
Transactions involving shares of the company by<br />
officers or related parties in accordance with article<br />
L.621-18-2 of the French Financial and Monetary<br />
Code<br />
The corporate officers have not engaged in any transactions in<br />
shares they hold in the company, either directly or through<br />
persons with whom they have close personal relations.<br />
Only José Monfront, Director, in connection with stock options<br />
granted in 2002 undertook the following transactions:<br />
- On 1 February <strong>2007</strong>, the exercise of 4500 stock options at an<br />
exercise price of €9.46 for a total of €42,570;<br />
- On 1 February <strong>2007</strong>, the exercise of 4500 stock options at an<br />
exercise price of €24.30 for a total of €109,350.<br />
These transactions were reported to the AMF (Autorité des<br />
Marchés Financiers) within the period required by law.<br />
Information on the increased in the shareholding in the capital<br />
of Solem SA, the majority shareholder, is provided below in<br />
paragraph 5.<br />
Transactions involving shares of the company by<br />
members of the Executive Committee "considered<br />
as officers" in accordance with article L.621-18-2 b)<br />
of the French Financial and Monetary Code:<br />
Segundo Fernandez, Executive Vice President of Group Sales<br />
and Executive Committee member, undertook the following<br />
transactions in fiscal <strong>2007</strong> involving stock options in 2002 and<br />
2003:<br />
- 3,500 stock options at an exercise price of €9.46 for a total of<br />
€33,110;<br />
- 3,500 stock options at an exercise price of €25.85 for a total of<br />
€90,475;<br />
- the exercise of 3,000 and exercise price of €4.19 for a total of<br />
€12,570;<br />
- On 20 September <strong>2007</strong>, the sale of 3,000 shares thus created<br />
at a price of €27.91 per share for a total of €83,730;<br />
Philippe Noblet, Secretary General and Executive Committee<br />
member undertook following transactions in fiscal <strong>2007</strong> involving<br />
stock options granted in 2002 and 2003:<br />
- On 24 January <strong>2007</strong>, exercise 3500 stock options at an exercise<br />
price of €9.46 for a total of €33,110;<br />
- On 24 January <strong>2007</strong>, sold 3,500 shares thus created for €24 per<br />
share for a total of €84,000;<br />
- On 10 July <strong>2007</strong>, exercise 3,000 stock options at an exercise<br />
price of €4.19 for a total of €12,570.<br />
EMPLOYEE STOCK OWNERSHIP<br />
Employee shareholdings on the last day of the fiscal<br />
year:<br />
In compliance with article L. 225-102 of the French Commercial<br />
Code, we inform you that on the last day of the fiscal year ended<br />
31 December <strong>2007</strong> the shareholding of employees was less<br />
than 3%.