Econocom - 2019 Universal registration document

07 shareholders

share performance and shareholders

DISTRIBUTION OF PROFITS 1.5.2. All shares carry the same rights to participate in Econocom’s profits. The Company’s profit for the year is calculated in accordance with applicable legal regulations. A total of 5% of profits is allocated to the legal reserve. This allocation is no longer required when the legal reserve equals 10% of the share capital. Acting on a recommendation of the Board of Directors, the Annual General Meeting independently determines how the residual profit balance will be used and allocated by simple majority vote of members present, within the limits set by articles ژ 7:212 and 7:214 of the new Belgian Companies Code. No profits are distributed when, at the end of the last reporting period, net assets as shown in the annual financial statements total less than paid-up capital or would total less than paid-up capital if profits were distributed or if net assets exceed called-up capital plus any reserves not available for distribution pursuant to the law or to the Company’s Bylaws. In accordance with the new Belgian Companies Code, the Board of Directors may distribute an interim dividend deducted from profit for the year. The Board sets the amount of any such interim dividend and the dividend payment date. LIQUIDATION 1.5.3. In the event that Econocom is dissolved for any reason and at any time, the liquidation process will be managed by one or more liquidators appointed by the General Meeting, or, if no such liquidators are appointed, by the Board of Directors in office at that time, acting as a liquidation committee.

An attendance list indicating the names of shareholders and the number of shares registered for voting purposes is signed by each shareholder or by their proxy prior to entering the meeting. Proxy voting 15.1.2.3. All shareholders can choose to be represented at a Annual General Meeting by a proxy, who may or may not be a shareholder of the Company, in accordance with articles ژ 7:142 to 7:145 of the new Belgian Companies Code. The Board of Directors may decide on the form of proxy. Proxies must reach the Company no later than the sixth day preceding the date of the Meeting. All proxy voting forms that reach the Company before the revised agenda is published, pursuant to article ژ 7:130 of the new Belgian Companies Code, remain valid for the agenda items covered. Distance voting 1.5.1.2.4. Shareholders who satisfy the attendance requirements specified below may vote at all Annual General Meetings either by post or, where permitted in the Notice of Meeting, by electronic means. Shares will be taken into consideration for the purposes of voting and quorum requirements only if the form provided by the Company has been duly completed and reaches Econocom at the latest on the sixth day before the date of the Annual General Meeting. If the Notice of Meeting allows shareholders to opt for distance voting through electronic means, it must provide a description of the means used by the Company to identify shareholders that choose to do so.

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2019 annual report