During its meeting held today, the Board of Directors reviewed the proposed resolution A submitted by a group of shareholders aiming at eliminating, under certain conditions, double voting rights provided for in the Company's Bylaws.
Following deliberation, the Board of Directors unanimously resolved not to approve this resolution. The Board emphasized that the value attributed to shareholder loyalty and stability which this double voting rights mechanism for shareholders registered for at least two years contributes to encourage.
Subject to the satisfaction of legal requirements, this proposed resolution A will be submitted to the shareholders during the Annual General Meeting to be held on 5 May, 2017, as a resolution not approved by the Board of Directors.