APC 2011 Annual Report Download - page 270

268 2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC
ANNUAL AND EXTRAORDINARY SHAREHOLDERS’ MEETING
8RESOLUTIONS
FIRST RESOLUTION
(Approval of the 2011 parent company
financial statements)
The Shareholders’ Meeting, acting with the quorum and majority
requirements for Ordinary Meetings, having heard the report of the
Management Board and of the Statutory Auditors, and noting the
Supervisory Board’s comments on the Management Board’s report
and on the Company fi nancial statements, approves the fi nancial
statements for 2011 as presented, as well as the transactions
contained in these statements or summarised in the reports
showing a net income of EUR2,603.7million.
SECOND RESOLUTION
(Approval of 2011 consolidated financial
statements)
The Shareholders’ Meeting, acting with the quorum and majority
requirements for Ordinary Shareholders’ Meetings, having heard
the report of the Management Board and of the Statutory Auditors,
and noting the Supervisory Board’s comments on the Management
Board’s report and on the Company consolidated fi nancial
statements, approves the consolidated fi nancial statements for
2011 as presented, as well as the transactions contained in these
statements or summarised in the reports.
THIRD RESOLUTION
(Apropriation of profit for the financial year
and dividend proposal)
The Shareholders’ Meeting, acting with the quorum and
majority requirements for Ordinary Meetings, and on the
recommendation of the Management Board, based on the
number of 548,943,024shares with a nominal value of EUR4 as of
December31, 2011, decides to appropriate the profi t available for
distribution for the year 2011, consisting of:
(i) retained earnings from the previous fi nancial year of
EUR96,496,292.01;
(ii) net income for the year of EUR2,603,738,064.30;
(iii) less the statutory allocation to the legal reserve of
EUR2,009,936.80;
representing a total amount of EUR2,698,224,419.51, as follows:
Share dividend EUR933,203,140.80
Retained earnings EUR1,765,021,278.71
TOTAL EUR2,698,224,419.51
The Shareholders’ Meeting therefore decides a dividend payment
of EUR1.70 for each of the EUR4 par value shares carrying dividend
rights on January1, 2011.
The full dividend proposed is eligible for the 40% allowance for
individuals resident in France provided for in article158-3-2 of the
French Tax Code. This allowance will not apply if the shareholder
has chosen to pay the withholding tax on his or her dividends
provided for in article117 quarter of the French Tax Code.
Unpaid dividends on treasury shares held at the ex-dividend date
will be allocated to retained earnings.
Apart from the dividend described above, no other amounts eligible
or not eligible for the 40% allowance provided for in article158-3-2
of the French Tax Code will be distributed.
Dividend payouts for Schneider ElectricSA for the last three years
were as follows:
2008 2009 2010
Dividend paid per share of
EUR8 par value (1) 3.45 2.05 3.20
Dividend paid per share
adjusted for the division by
two of the par value (2) 1.725 1.025 1.60
(1) The full dividend is eligible for a 40% allowance for individuals
resident in France for tax purposes. No non-eligible dividends
have been distributed.
(2) The two-for-one share split occured on effective on
September2, 2011.
FOURTH RESOLUTION
(Approval of the arguments and regulated
obligations made in 2012 relating to the
top-hat defined benefit pension plan for
Management Board members)
The Shareholders’ Meeting, acting with the quorum and majority
requirements for Ordinary Meetings, having heard the report of
the Management Board and Statutory Auditor’s special report
presented pursuant to the provisions of article L.225-88 of the
French Commercial Code on agreements and obligations as per
L.225-86, L.225-90-1 and L.225-79-1 of the Code, approves the
obligations and the agreement presented in these reports relating to
the top-hat pension plan with defi ned contributions for Management
Board members.
FIFTH RESOLUTION
(Approval of the agreements and regulated
obligations relating to the status of
Jean- Pascal Tricoire)
The Shareholders’ Meeting, acting with the quorum and majority
requirements for Ordinary Meetings, having heard the report of
the Management Board and Statutory Auditor’s special report
presented pursuant to the provisions of article L.225-88 of the
French Commercial Code on agreements and obligations as per
L.225-86 and L.225-90-1 of the Code, approves the obligations
and the agreement presented in these reports relating to the benefi t
plan for MrJean-Pascal Tricoire, as well as the compensation and
benefi ts due in case of cessation of duties.
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4. Resolutions
Ordinary Meeting