Etude de l'AG du 19/11/2017
Assemblée sans sujet particulier, à l'exception des réserves émises par les commissaires aux comptes sur les comptes annuels et consolidés qui ne nous permettent pas de soutenir les résolutions 1 et 2.
La société a ajouté le 30 aout 2017 trois résolutions relatives aux renouvellements des administrateurs.
On regrettera le manque de diversité et d'indépendance du conseil. En effet, les 3 administrateurs ne représentent que le premier actionnaire ; ainsi, les interets des actionnaires minoritaires, qui représentent tout de même plus de 80% du capital, ne sont pas représentés par des administrateurs indépendants.
On notera que l'un des arguments de la société concernant la proposition de regroupement d'actions (résolution 9) est de susciter l'interet des actionnaires. Il semble que la mise en place d'une bonne gouvernance pourrait elle aussi attirer l'attention des actionnaires et nous recommandons donc fortement à la société de remédier à ce probleme.
Cesar. Cesar SA manufactures carnival masks and fancy dress outfits. The Company produces costumes, masks, paper deco products, wigs, panoplies, make-up items, toys and accessories. It markets and sells its products through distributors, including retailers and wholesalers.
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