MRM - 2018 Registration document

First page Table of contents Next page Last page

Contents	3
1. INFORMATION ON M.R.M.’S ACTIVITIES	5
1.1 General presentation of the Company	5
1.2 Key fi gures	5
1.2.1 The Group’s asset profi le	5
1.2.2 Financial data	8
1.3 Company history	12
1.4 Presentation of the Company	14
1.4.1 General presentation of the activity	14
1.4.2 The real estate market in 2018 and the retail segment	15
1.4.3 The Group’s analysis of market trends	21
1.4.4 M.R.M.’s asset portfolio as of 31 December 2018	22
1.4.5 Subsequent events and ongoing projects	25
1.4.6 Main investments carried out by the Company in the last three years	26
1.4.7 Strategy and outlook	26
1.5 Group ownership structure	27
1.6 Group organisation	28
1.7 Human resources	29
1.8 Research and development	29
1.9 Environmental policy	29
1.10 Signifi cant changes in the fi nancial or commercial position	29
2. RISK FACTORS	31
2.1 Legal risks	31
2.2 Risks related to the business environment	32
2.3 Market risks – Financial risks	37
2.4 Insurance	38
GENERAL INFORMATION ON THE ISSUER AND ITS CAPITAL	39
3.1 General information	39
3.1.1 Company name	39
3.1.2 Company registration place and number	39
3.1.3 Registered offi ce, legal status and laws governing the Company’s business	39
3.1.4 Consultation of legal documents	39
3.1.5 Lifetime of the Company	39
3.1.6 Financial period of the Company	39
3.1.7 Corporate purpose	39
3.1.8 Appropriation of earnings according to the Articles of Association	40
3.1.9 Management and administration	40
3.1.10 General Meetings	40
3.1.11 Shareholders’rights	41
3.2 Information about the share capital	41
3.2.1 Share capital	41
3.2.2 Unissued authorised share capital	41
3.2.3 Convertible securities	42
3.2.4 Non-equity securities	42
3.2.5 Securities giving access to the capital	42
3.2.6 Summary of current authorisations	42
3.2.7 Treasury shares - Share buyback programme	42
3.2.8 Complex securities	43
3.2.9 Options or agreements involving the Company’s share capital	43
3.2.10 Pledged shares	43
3.2.11 Changes in the share capital	43
3.2.12 Shareholder structure	44
3.3 Share price	48
3.4 Employee profit-sharing plan	49
3.5 Dividend payout policy	49
3.6 Management report for the year ended 31 December 2018	49
3.7 Consolidated fi nancial statements for the financial year ended 31 December 2018	68
3.8 Statutory Auditors’report on the consolidated fi nancial statements for the year ended 31 December 2018	102
3.9 Annual financial statements for the year ended 31 December 2018	106
3.10 Statutory Auditors’report on the financial statements for the year ended 31 December 2018	116
4. CORPORATE GOVERNANCE	121
4.1 Corporate governance report	121
4.2 Transactions with related parties	152
4.2.1 Regulated agreements	152
4.2.2 Other agreements with related parties	152
4.3 Statutory Auditors’report on regulated agreements and commitments	153
4.4 Statutory Auditors	155
5. SIGNIFICANT CONTRACTS	157
6. INFORMATION ON INVESTMENTS	158
7. PERSON RESPONSIBLE FOR THE FINANCIAL INFORMATION	159
8. FINANCIAL CALENDAR	160
9. DOCUMENTS ACCESSIBLE TO THE PUBLIC	161
10. CERTIFICATION BY THE PERSON RESPONSIBLE FOR THE REGISTRATION DOCUMENT	162
10.1 Person responsible for the Registration Document	162
10.2 Certification by the person responsible for the Registration Document	162
11. CROSS-REFERENCE TABLE	163

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