THEOLIA's Ordinary and Extraordinary General Meeting of Shareholders was held on Friday June 1st, 2012, chaired by Mr. Michel Meeus, Chairman of the Board of Directors, in the presence of the Statutory Auditors and of all Board members in duty and whose appointment was proposed to the vote of the shareholders.
A quorum of 25.43% has been reached, representing 32,529,614 shares held by shareholders present, represented or having voted by post.
The twenty-fifth resolution, related to the increase in the share capital in favor of the employees of the Group, has been rejected, according to the recommendation of the Board of Directors.
All the other resolutions have been approved by majorities higher than 84%. The voting results are available on the Company's website www.theolia.com (Finance/General Meetings).
In particular, the General Meeting approved the parent company accounts and consolidated accounts for 2011, named Mrs. Lilia Jolibois independent Board member of THEOLIA and renewed Mr. David Fitoussi as Board member.
Given the resignation on April 2012 of Mr. Jean-Pierre Mattéi as Board member and the expiration of the term of Mr. Georgius Hersbach at the end of this General Meeting, the Board of Directors thanked them for their involvement within the Board.
The General Meeting also authorized the Board of Directors to decide to proceed to a capital reduction by reducing the par value of the shares from 1 euro to 70 euro cents, as well as to a consolidation of two shares into one new share.
Finally, the financial authorizations that were proposed have been approved.
This General Meeting was the opportunity to assess the year 2011. The new strategy implemented begins to prove successful: the Group's operational performance has been significantly improved, the EBITDA margin reached 38%, the current business model is value creative. Based on the strong improvement in the Group's basics, the creation of an investment vehicle and the launch of a 300 MW project in Morocco, the Group is ready to grow at constant costs in order to reach profitability. Mr. Michel Meeus, Chairman of the Board of Directors, and Mr. Fady Khallouf, CEO of THEOLIA, renewed their confidence in the Company and its future.
Given the very strong interest of shareholders in the Group's developments and the will of the Company to reinforce its relationship with its shareholders, THEOLIA announced the near creation of an online forum, linked to its own website and dedicated to its shareholders. In that space, shareholders will be able to converse and ask questions. Answers will be provided. The opening of this forum is planned for June 18, 2012.
The Board of Directors, comprising 4 Board members at the end of this General Meeting, met and confirmed Mr. David Fitoussi as Chairman of the Audit Committee and named Mrs. Lilia Jolibois member of this Committee. The Board decided to dissolve the Nomination and Remuneration Committee.
THEOLIA is an independent producer of wind energy, active over the entire wind value chain. The Group develops, builds and operates wind farms in four main countries: France, Germany, Italy and Morocco. In total, the Group operates 903 MW for its own account and for third parties.
Communications & Investor Relations
|Tel: +33 (0)4 42 906 596
French Société anonyme (public limited company with Board of Directors) with share capital of ¤127,125,197
Registered office: 75 rue Denis Papin - BP 80199 - 13795 Aix-en-Provence Cedex 3 - France
Tel: +33 (0)4 42 904 904 - Fax: +33 (0)4 42 904 905 - www.theolia.com
THEOLIA is listed on the compartment C of Euronext Paris, code: TEOInformation réglementée
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