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Etude de l'AG du 27/04/2017

Bouygues has appointed two additional Deputy Chief Executive Officers since 1 September 2016: Olivier Roussat and Philippe Marien. Their remuneration is aligned with that of Martin Bouygues, Chairman and Chief Executive Officer. Olivier Roussat will become CEO and Martin Bouygues will remain in his role as Chairman.

The Company appeared to have caved under investor pressure with the recent departure of directors linked to its subsidiaries from the Board (Hervé le Bouc and François Bertière for this year).

In addition, Bouygues is one of the few companies in the CAC 40 to offer its shareholders the use of anti-takeover devices. Already at the general meeting of 2016, the Company was one of only in a few in the the index to allow the use of capital increases during a takeover period, as now foreseen by the Florange law. Bouygues is one of 10% of CAC 40 companies to permit the use of a buyback program for its securities during a public offering period and is one of the last two companies to still use warrants (“Bons Breton”) as anti-takeover defenses.

Moreover, we have has reservations about how the Company valued its equity stake in

Alstom.

Underlying
Bouygues S.A.

Bouygues is a global industrial group engaged in designing, building and operating structures in public and private buildings, transportation infrastructure and energy and communication networks. Co. operates in three sectors - Construction (Bouygues Construction, Bouygues Immobilier and Colas), Media (TF1) and Telecom (Bouygues Telecom). Construction is engaged in the design and maintenance of projects in the areas of building, civil works, energies and services; Media offers activities covering the audiovisual sector; and Telecom offers mobile broadband services and prepaid card services for smart phones, as well as a range of services including telemessaging, voice mail and WAP

Provider
Proxinvest
Proxinvest

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