ALBIOMA Press release
Paris La Défense, 27 May 2019
General Meeting of 27 May 2019
Approval of all resolutions
Merging of the roles of Chairman of the Board of Directors and of Chief Executive Officer
Appointment of Florence Lambert and Frank Lacroix as Directors
The Annual General Meeting of Albioma of 27 May 2019 overwhelmingly approved all resolutions put to it. Detailed voting results and information as to the quorum will shortly be published on the Company's website, www.albioma.com, under General meetings of shareholders.
Frédéric Moyne succeeds Jacques Pétry as Chairman of the Board of Directors and becomes Chairman and Chief Executive Officer of Albioma
Following the General Meeting, the Board of Directors confirmed its decision, announced in March 2018, to merge the roles of Chairman of the Board of Directors and of Chief Executive Officer, thereby marking the end of the transition period that began on 1 June 2016 with the appointment of Frédéric Moyne as Chief Executive Officer. Frédéric Moyne thereby succeeds Jacques Pétry as Chairman of the Board of Directors, the latter having resigned as Chairman of the Board of Directors and as Director.
Jacques Pétry said: "I am moving on from Albioma after eight wonderful years during which, with the support of the Board of Directors, our shareholders and all our teams, we successfully developed and implemented a powerful strategy built around biomass and solar, which is now paying off: commissioning of Galion 2 on Martinique and of the combustion turbine in Saint-Pierre on La Reunion island, ongoing development in Brazil, acceleration of our investments in solar. Successes that reflect that the Group's model is working and point to future success. I wish Frédéric Moyne every success in what promises to be a very exciting journey starting today. "
Frédéric Moyne, Chairman and Chief Operating Officer of Albioma, said: "I would like to thank Jacques Pétry and recognise his phenomenal contribution to the Group's success. I would also like to thank Valérie Landon for her unwavering support alongside all Directors. With a well-balanced Board of Directors, a fully-committed team and a shareholder base comprising leading long-term investors, we have everything we need to implement the strategy rolled out in 2012 and successfully complete the conversion of our coal plants to biomass in the Overseas departments and territories, roll out our model in other markets and speed up our solar business in our markets. "
Florence Lambert and Frank Lacroix join the Board of Directors
The Board of Directors welcomes two new members. Florence Lambert, whose nomination was approved by the General Meeting, takes up the role of independent Director to succeed Valérie Landon, who had not sought reappointment. Frank Lacroix has been co-opted as an independent Director to succeed Jacques Pétry.
Pierre Bouchut, an independent Director since 2018, has been appointed Lead Independent Director, custodian of the balance of power on the Board of Directors following the merger of the roles of Chairman of the Board of Directors and of Chief Executive Officer.
Florence Lambert, 46 years of age, has been Head of the Innovation Laboratory for New Energy Technology and Nanomaterials (LITEN) at the French Atomic Energy and Alternative Energy Commission (CEA) since 2013, and is Director of Syndicat des énergies renouvelables (SER) where she chairs the Industry, Employment and Innovation Committee.
Frank Lacroix, 55 years of age, has the benefit of a long career in the energy sector, during which time he has been Chairman and Chief Executive Officer of Dalkia (2011-2014), member of the Executive Committee of Veolia, and European Director in EDF's International Division (2014-2016).
Payment of a dividend of €0.65 per share, partly payable in shares
Lastly, the General Meeting approved the payment of a dividend of €0.65 per share. This dividend will be raised to €0.71 for shareholders whose shares have been continually registered in their name since 1 January 2017, up to a maximum of 0.5% of the share capital. Shareholders will have the option, from 13 June 2019 to 4 July 2019 inclusive, to elect for payment of half of their dividend in new shares, which will be issued at a unit price of €17.91. The remainder of the dividend will be paid in cash. The dividend will be paid and any new shares delivered on 10 July 2019.
Next on the agenda: results for the first half of the 2019 financial year, on 24 July 2019 (after trading).
| About Albioma | Contacts |
| An independent renewable energy producer, Albioma is committed to the energy transition thanks to biomass and photovoltaics. The Group, which is established in Overseas France, Mauritius and Brazil, has developed a unique partnership for 25 years with the sugar industry, to produce renewable energy from bagasse, a fibrous residue from sugar cane. Albioma is also the leading generator of photovoltaic power overseas where it constructs and operates innovative projects with integrated storage capabilities. | Investor Julien Gauthier +33 (0)1 47 76 67 00 Media Charlotte Neuvy +33 (0)1 47 76 66 65 presse@albioma.com |
| Albioma shares are listed on NYSE EURONEXT PARIS (sub B) and eligible for the deferred settlement service (SRD) and PEA-PME plans (ISIN FR0000060402 - ticker: ABIO). | www.albioma.com |
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ALBIOMA via Globenewswire
