Eurofins Scientific - EGM 16 November 2020
Resolution 1:
The share price increased by 133.06% over the period from December 31, 2014 to December 31, 2019. The increase amounts to 227.66% between December 31, 2014 and October 23, 2020, from €212.05 to €694.80. The company is now one of the SBF 120 companies with the highest share price. The operation to reduce the nominal value of the shares from €0.10 to €0.01 allows the substitution of each existing share by ten new shares. The company's motivation for this operation is to improve the liquidity of the share and to make it accessible to a broader investor base, including employees (link to the press release: /media-centre/press-releases/2020-10-16_2/).
This stock split makes it possible to artificially lower the share price without creating or destroying shareholder value. ECGS recommends approval.
Resolution 2:
In addition to proposing the amendments necessary to reduce the nominal value of the shares and the beneficiary units ("parts bénéficiaires"), the company also proposes to make amendments relating to the beneficiary units A. ECGS recalls its firm opposition to the existence of these beneficiary units A which are contrary to our principle of "one share - one vote". Thus, although we do not issue an opinion unfavorable to the modifications that are strictly necessary to the transaction contemplated in the first resolution, we recommend opposition.
Eurofins Scientific is an international life sciences company operating in food & pharmaceutical products testings. Co. provides analytical testing services to clients from various industries including pharmaceutical, food, and environmental sectors. Co. offers analytical methods for evaluating the authenticity, origin, safety, identity, composition, and purity of biological substances & products. Co. verifies authenticity of products analyzed to detect dangerous components (pathogens, prions, pesticides, asbestos, mycotoxins, dioxins, toxic substances, etc.). Co. operates in Benelux, France, Germany, North America, Scandinavia, British Isles (U.K. & Republic of Ireland), & other countries.
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