In the context of the proposed takeover bid announced by Vivendi SE, the Board of Directors of the Company, appointed, on 17 December 2021, an ad hoc Committee from among its members, in accordance with stock market regulations.
In September 2022, the Board of Directors decided to extend the mission of the ad hoc Committee to follow the progress of work on the proposed reorganization of the Group’s radio activities (see press release of May 10, 2022).
Following a review of its composition, the ad hoc Committee is composed of 100% independent members.
>Véronique Morali *, Chairman of the Committee
>Pascal Jouen, Director representing employees
>René Ricol *
>Pierre Leroy, Board Advisor, also participates in the meetings of the ad hoc Committee, without voting rights.
* Independent Director.
The main tasks of the ad hoc Committee are:
- follow-up of Vivendi SE’s proposed acquisition of the Company, review of any questions and/or comments from the shareholders, recommendations regarding any important Company decision in relation to the procedures with the competition authorities and the French broadcasting regulator (Autorité de régulation de la communication audiovisuelle et numérique, Arcom, resulting from the merger of the CSA and Hadopi);
- follow-up of the reorganization project of the Group’s radio activities, recommendations regarding any important Company decision in relation to this project with the AMF (Autorité des marchés financiers) and/or the competition authorities or Arcom ;
- follow-up on the financial and legal expert’s work ;
- assistance to the Board of Directors in order for it to take a final decision on this project.