MRM - 2020 Universal 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 figures	5
1.2.1 The Group’s asset profile	5
1.2.2 Financial data	8
1.3 Company history	12
1.4 Presentation of the Company	14
1.4.1 General business overview	14
1.4.2 The retail real estate market in 2020	17
1.4.3 The Group’s analysis of market trends	19
1.4.4 M.R.M.’s asset portfolio as of 31 December 2020	20
1.4.5 Main investments carried out by the Company in the last three years	23
1.4.6 Recent events	23
1.4.7 Strategy and outlook	24
1.5 Group ownership structure	25
1.6 Group organisation	26
1.7 Human resources	27
1.8 Research and development	27
1.9 Environmental policy	27
1.10 Significant changes in the financial or commercial position	27
2. RISKS FACTORS	29
2.1 Risk management	29
2.2 Main risk factors	29
2.2.1 Risks linked to the economic environment, consumer habits and buying behaviours	31
2.2.2 Financial risks	31
2.2.3 Operational risks	33
2.2.4 Legal and tax risks	35
2.2.5 Environmental risks	36
2.3 Insurance	38
2.4 Other information	38
3. GENERAL INFORMATION ON THE ISSUER AND ITS SHARE CAPITAL	39
3.1 General information	39
3.1.1 Company name	39
3.1.2 Company place of registration and number	39
3.1.3 Legal Entity Identifier (LEI)	39
3.1.4 Registered ofﬁce, legal status and laws governing the Company’s business and website	39
3.1.5 Consultation of legal documents	39
3.1.6 Lifetime of the Company	39
3.1.7 Financial year of the Company	39
3.1.8 Corporate purpose	40
3.1.9 Statutory appropriation of earnings	40
3.2 Information about the share capital	40
3.2.1 Share capital	40
3.2.2 Unissued authorised share capital	41
3.2.3 Convertible giving access to the share capital	41
3.2.4 Securities not representing share capital	41
3.2.5 Potential capital	41
3.2.6 Summary of current delegations or authorisations for capital increases	42
3.2.7 Treasury shares - Description of the share buyback programme	42
3.2.8 Options or agreements involving the Company’s share capital	42
3.2.9 Pledges of shares	42
3.2.10 Changes in share capital	42
3.2.11 Shareholders	43
3.3 Share price	46
3.4 Employee profit-sharing plan	47
3.5 Dividend policy	47
3.6 Management report for the financial year ended 31 December 2020	47
3.7 Consolidated financial statements for the financial year ended 31 December 2020	68
3.8 Statutory Auditors’ report on the consolidated financial statements	103
3.9 Corporate financial statements for the financial year ended 31 December 2020	107
3.10 Statutory Auditors’ report on the financial statements	118
4. CORPORATE GOVERNANCE	122
4.1 Report on corporate governance	122
4.2 Transactions with related parties	155
4.2.1 Related-party agreements	155
4.2.2 Other agreements with related parties	155
4.3 Statutory Auditors’ report on regulated agreements	156
4.4 Statutory Auditors	157
5. INFORMATION ON INVESTMENTS	159
6. PERSON RESPONSIBLE FOR FINANCIAL INFORMATION	160
7. FINANCIAL CALENDAR	161
8. DOCUMENTS ACCESSIBLE TO THE PUBLIC	162
9. CERTIFICATION BY THE PERSON RESPONSABLE FOR THE UNIVERSAL REGISTRATION DOCUMENT	163
9.1 Person responsible for the Universal Registration Document	163
9.2 Certification by the person responsible for the Universal Registration Document	163
10. CROSS-REFERENCE TABLE	165

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