Eutelsat Communications' Annual General Meeting of Shareholders of November 9, 2010
PARIS, November 9, 2010 /PRNewswire-FirstCall/ --
- Fiscal 2009-2010 Consolidated Accounts Approved
- All Resolutions Approved
- Distribution of 0.76 euro per share, up 15.2% on Distribution for 2008-2009
- Appointment to the Board of Francisco Reynes, Carole Piwnica and Olivier Rozenfeld
The Ordinary and Extraordinary Annual General Meeting of Shareholders of Eutelsat Communications, (Euronext Paris: ETL) was held on November 9 in Paris under the chairmanship of Giuliano Berretta, Chairman of the Board. The consolidated accounts for fiscal 2009-2010 were approved, as well as the Company's Articles of Association and all resolutions put to the vote.
The Annual General Meeting of Shareholders also approved the proposal to distribute 0.76 euro per share, an increase of 15.2% over the previous year. This distribution, which represents a pay-out ratio of 62%, will be paid on November 16, 2010.
Appointment of Board members
The General Assembly ratified the co-optation by the Board of Directors meeting on 22 June 2010 of Francisco Reynes, CEO of Abertis, as a new Director in replacement of Carlos Sagasta Reussi for the remaining duration of the latter's office, i.e. up to the end of the Ordinary General Meeting of Shareholders to be held to examine the accounts for the financial year ending June 30, 2011.
The General Assembly also approved the appointments of Carole Piwnica and Olivier Rozenfeld as independent Board members. These two appointments, for a period of six years, increase to three the number of independent members sitting on Eutelsat Communications' Board.
Carole Piwnica, a Belgian citizen, is Managing Director of Naxos UK (private equity firm). She is also a Board member of Dairy Crest Group and Aviva.
Olivier Rozenfeld, a Belgian national, is a Board member of Iliad Group, a member to LowendalMasai's Supervisory Board and a Board member of OpenERP in Belgium.
Details of the resolutions are available on the Group's website. Estimated financial calendar 2010-2011: - February 17, 2011: earnings for the first half ended December 31, 2010. - May 10, 2011: revenues for third quarter ended March 31, 2011. - July 28, 2011: earnings for the full year ended June 30, 2011
About Eutelsat Communications
Eutelsat Communications (Euronext Paris: ETL, ISIN code: FR0010221234) is the holding company of Eutelsat S.A.. With capacity commercialised on 26 satellites that provide coverage over the entire European continent, as well as the Middle East, Africa, India and significant parts of Asia and the Americas, Eutelsat is one of the world's three leading satellite operators in terms of revenues. At 30 September 2010, Eutelsat's satellites were broadcasting more than 3,700 television channels. More than 1,100 channels broadcast via its HOT BIRD(TM) video neighbourhood at 13 degrees East which serves over 120 million cable and satellite homes in Europe, the Middle East and North Africa. The Group's satellites also serve a wide range of fixed and mobile telecommunications services, TV contribution markets, corporate networks, and broadband markets for Internet Service Providers and for transport, maritime and in-flight markets. Eutelsat's broadband subsidiary, Skylogic, markets and operates access to high speed internet services through teleports in France and Italy that serve enterprises, local communities, government agencies and aid organisations in Europe, Africa, Asia and the Americas. Headquartered in Paris, Eutelsat and its subsidiaries employ nearly 661 commercial, technical and operational employees from 28 countries.
SOURCE Eutelsat Communications
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