MRM - 2018 Registration document

3

General information on the issuer and its capital

Consolidated financial statements for the financial year ended 31 December 2018

Description of investment properties

Date of acquisition GLA area (m 2 )

Property

Address

Type

24-26 Place Etienne Marcel 41 Boulevard Vauban 78180 Montigny-le-Bretonneux

Sud Canal

27/10/2004

11,618

Retail

2 Rue de l’Etape 51100 Reims

Reims

10/11/2004

2,779

Retail

25 Place de la Réunion 68100 Mulhouse 17-19 Place Jean Jaurès 37000 Tours Place Maurice Vast 80000 Amiens ZAC du Vivier Route de la Bérardière 72700 Allonnes

Passage de la Réunion

15/04/2005

6,011

Retail

16/06/2006 and 28/09/2007

Galerie du Palais

6,836

Retail

Halles du Beffroi

31/08/2006

7,485

Retail

20/12/2005 and 20/06/2017

Aria Parc

12,823

Retail

6 Rue Châtillon 25480 Besançon École-Valentin 16-18, avenue Morane-Saulnier, 2-4 Avenue de l’Europe 78140 Vélizy-Villacoublay

Valentin shopping centre

27/12/2007

4,249

Retail

Carré Vélizy

30/12/2005

11,810

Retail

21/12/2007 and 27/05/2008

Gamm Vert portfolio

Multiple sites

22,050

Retail

TOTAL

86,427

Fees are determined before the appraisal is carried out and are not proportional to the value of the assets appraised. For JLL, the amount of fees billed to the Group as a percentage of total revenue is not material.

Appraiser fees The Group’s property asset portfolio is appraised twice a year by JLL, an independent appraiser appointed at the end of 2013 in accordance with the Group’s five-year appraiser rotation policy. Another progressive appraiser-rotation will be considered in 2019. Appraiser fees are fixed and totalled €38 thousand in 2018 compared with €60 thousand in 2017.

4.5 Assets held for sale

Accounting principles

Under IFRS 5, assets and liabilities that the Company has decided to sell and the carrying amount which will be recovered principally through a sale transaction rather than through continuing use are to be classified as “Assets held for sale” and “Liabilities held for sale”.

The “Assets held for sale” item includes all receivables on benefits granted to property tenants.

For the sale to be highly likely, an asset sale plan must have been undertaken, and an active programme for finding a buyer must have been launched. Properties in this category continue to be measured using the fair-value model as follows: • property under sale agreement: sale value in the sale agreement net of the costs and commission required to complete the sale; • property for sale: appraisal value excluding transfer taxes net of costs and commission required to complete the sale.

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M.R.M. 2018 REGISTRATION DOCUMENT