Report of the Rexel’s Annual General Meeting
Rexel, a global leader in the distribution of electrical supplies, held its Shareholders’ Assembly today in Paris.
All the resolutions submitted to shareholder vote were approved by a large majority.
Distribution of a dividend
Shareholders decided to distribute a dividend of €0.40 per share and also decided to offer to each shareholder the choice of opting for the payment of the dividend either in cash or in new shares of Rexel. The shareholders can exercise their option from May 27, 2011 (inclusive) to June 20, 2011 (inclusive) upon request to the concerned financial intermediaries. In the event of the absence of exercise of the option before June 20, 2011 (inclusive), the dividend will be paid only in cash. The choice will apply to the full dividend amount for which this choice is offered. The price of the new shares issued for the payment of the dividend is set at €16. The ex-dividend date is May 27, 2011. The payment in cash or the delivery of the new shares when the option is exercised will be carried out from June 30, 2011. The maximum number of new shares that can be issued if the option is exercises is 6 574 300, i.e. 2.49 % of Rexel’s share capital and voting rights (on the basis of the number of outstanding shares on May 18, 2011).
Renewal of the mandate of three members of Rexel’s Supervisory Board
In particular, shareholders approved the renewal of the mandate of three members of the Supervisory Board for four years: David Novak, Luis Marini-Portugal and Matthew Turner. Following the resignation of Joe Adorjan on February 8, 2011, a new member of the Supervisory Board, qualifying as an independent member, will be appointed to succeed him. Rexel’s Supervisory Board, which counts 12 members, will thus be composed of four independent members.