02.11.2012 Views

2007 - Pinguely Haulotte

2007 - Pinguely Haulotte

2007 - Pinguely Haulotte

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

<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%.

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!