Vivendi - EGM 29 March 2021
Arnaud de Puyfontaine, Chairman of Vivendi's Management Board, is a member of Proxinvest Steering Committee. Composed of 12 members divided into 3 colleges (6 individuals from the institutional investors, 3 individuals from the world of issuers and 3 qualified experts), the Proxinvest Steering Committee gives its opinion in a consultative manner on Proxinvest's Corporate Governance Principles and Voting Policy, on the basis of which these voting recommendations are prepared.
It is proposed to amend Vivendi's Bylaws to allow a distribution of dividend through the delivery of assets in kind, including financial securities. This proposal follows the announcement on 13 February 2021 of the distribution of 60% of UMG's share capital and its listing by the end of the year. The resolution only enables the Bylaws to be amended in order to proceed with a distribution by delivery of assets in kind. Given that shareholders will be able to vote on the UGM operation at a later date, we recommend approval.
Vivendi is an audiovisual group active in the entertainment industry with activities in music, TV, cinema, mobile, fixed and internet, and games. Co.'s operations are divided into five businesses: Canal+ Group which produces and distributes pay-TV in France, analog or digital, and is involved in film making; Universal Music Group which sells recorded music (physical and digital media); GVT which serves as a telecommunication operator for fixed ultra high-speed broadband, fixed-line telecommunications and Pay-TV in Brazil; SFR which is engaged in mobile phone services in France, as well as fixed and ADSL services; and Other Activities which involves ticketing, Wengo and Watchever.
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