Scor SE
SCOR’s shareholders overwhelmingly support the company’s Board of Directors, its Chairman & CEO and its Lead Independent Director (GlobeNewswire)
Press Release
April 26, 2019 - N° 17
SCOR’s shareholders overwhelmingly support the company’s Board of Directors, its Chairman & CEO and its Lead Independent Director
SCOR’s shareholders express their opposition to the destabilization attempt led by the activist fund CIAM
SCOR’s shareholders strongly supported the company’s Board of Directors, its Chairman & CEO, Denis Kessler, and its Lead Independent Director, Augustin de Romanet, during today’s AGM. They reaffirmed their total confidence in the governance of the company, overwhelmingly rejecting the resolution proposed by the fund CIAM.
All the resolutions proposed by the Board of Directors were approved by the General Meeting. The resolution proposed by the activist fund CIAM, calling for the removal of Denis Kessler as a director of SCOR, was [overwhelmingly] rejected by more than 74.37% of the votes. The renewal of Augustin Romanet’s mandate as a director, which CIAM had called on shareholders to oppose, was approved by 84.66% of the votes. The resolutions relating to the remuneration of Denis Kessler, which CIAM had called on shareholders to oppose, were also approved, by 54.46% and 54.56% of the votes.
The General Meeting approved the payment of a dividend of EUR 1.75 per share for the 2018 financial year, with the coupon date set at April 30, 2019, and the payment date at May 2, 2019.
The details of the resolution voting results will be online at: www.scor.com later today.
Denis Kessler, Chairman & Chief Executive Officer of SCOR, comments: “The Board of Directors is extremely satisfied to note that the shareholders have strongly supported all its proposed resolutions. The Board is delighted that the shareholders have expressed their deep opposition to the destabilization attempt led by the activist fund CIAM, and is pleased that the shareholders have renewed Augustin de Romanet’s mandate as the Group’s Lead Independent Director. This vote by our shareholders reaffirms their confidence in the Group’s governance in terms of the development of the company, focusing on the twofold objective of profitability and solvency. These votes of confidence constitute a validation of the strategy followed for more than 16 years to raise this global reinsurance group to the highest level and maintain its independence, which is a gauge of its success. SCOR is fully mobilized to use all available means to create value, and is actively preparing its seventh strategic plan, which will be presented in September.”
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Contact details
Marie-Laurence Bouchon
Group Head of Communications
+33 (0)1 58 44 75 43
mbouchon@scor.com
Ian Kelly
Head of Investor Relations
+44 (0)203 207 8561
ikelly@scor.com
LinkedIn: SCOR | Twitter: @SCOR_SE
Forward-looking statements
SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission. Thus, any forward-looking statements contained in this communication should not be held as corresponding to such profit forecasts. Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand.
Please refer to the 2018 reference document filed on March 4, 2019, under number D.19-0092 with the French Autorité des marchés financiers (AMF) posted on SCOR’s website www.scor.com (the “Document de Référence”), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group. As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings.
The Group’s financial information is prepared on the basis of IFRS and interpretations issued and approved by the European Union. This financial information does not constitute a set of financial statements for an interim period as defined by IAS 34 “Interim Financial Reporting”.
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