Report
Jehanne Leroy
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Etude de l'AG du 04/09/2017

La présente assemblée a pour but d'approuver la distribution exceptionnelle de dividendes, les conditions suspensives qui assortissaient l’autorisation de distribuer des dividendes aux actionnaires dans le cadre du plan de sauvegarde de la holding du groupe ayant été remplies.

Au regard de la situation financière du groupe, la distribution proposée semble acceptable et nous soutenons cette proposition. On notera qu'au regard de l'actionnariat du groupe (détenu à 79,64% par le concert Financière Partouche et BCP), les membres du concert devraient au total bénéficier d'un dividende total d'environ 2,4 M€ (dont 2 M€ à Financière Partouche seule).

Underlying
NicOx S.A.

Nicox is engaged in the ophthalmic market. Co. markets several ophthalmic products in the United States and Europe with a portfolio of therapies and diagnostic tools that can help people to enhance their sight. Co. has developed naproxcinod, the first member of the Cyclooxygenase-Inhibiting Nitric Oxide-Donating (CINOD) class of anti-inflammatory agents, for the treatment of the signs and symptoms of osteoarthritis. Beyond naproxcinod, Co. has a pipeline containing multiple nitric oxide-donating NCEs, which are in clinical development with partners for the treatment of diseases, such as hypertension, glaucoma and Chronic Obstructive Pulmonary Disease (COPD).

Provider
Proxinvest
Proxinvest

Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.

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Analysts
Jehanne Leroy

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