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This website and the information contained within it (together referred to as “the website”) is provided for information purposes only and may not under any circumstances be relied upon by any person in evaluating the merits of investing or disinvesting Lagardère securities. This document presents Amber Capital’s analysis of Lagardère’s current financial situation and of the possible actions that the management of the company could implement to unlock value.
This website does not constitute (i) an offer or invitation to buy or sell, or a solicitation of an offer to buy or sell, any security or other financial instrument and no legal relations shall be created by its issue, (b) a “financial promotion” for the purposes of the Financial Services and Markets Act 2000, (c) “investment research” as defined by the FCA handbook, or (d) an “investment recommendation“ as defined by Regulation (EU) No 596/2014. Nothing on this website shall be construed as establishing direct contacts with potential investors nor does it constitute a solicitation or offer or advice or recommendation for buying or selling any securities.
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The information contained in this website is based upon proprietary research and analysis of public information conducted by Amber Capital and its affiliates, the reasonableness of which must be evaluated by investors and prospective investors. Forward-looking information contained in this website, including all statements of opinion and/or belief, are based on a variety of estimates, assumptions, projections and predictions by Amber Capital. These estimates and assumptions are inherently uncertain and are subject to numerous business, industry, market, regulatory, competitive, and financial risks that are outside of Amber Capital’s control. There can be no assurance that the assumptions will prove accurate.
Certain of the Amber Funds have positions in the securities of Lagardère SCA and may also have positions in any other issuer mentioned in this website. Accordingly, this website should not be viewed as impartial.
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As the largest shareholder in Lagardère SCA, we have decided to publicly present our vision for a Stronger Lagardère: a company with proper governance and more focused strategy to develop its main assets, Publishing (Hachette) and Travel Retail.
In the current crisis, the changes we are proposing are becoming ever more necessary in order to strengthen the Lagardère Group. Our main priority is to protect the company, its employees and its shareholders. Therefore, as a responsible shareholder, we believe it has now become imperative that the 2020 dividend payment is suspended in order to boost the company’s liquidity and therefore safeguard the business and its employees.
The next AGM on the 5th of May should be an opportunity to uphold Shareholder democracy and to find a sustainable solution to build a Stronger Lagardère. You, our fellow Shareholders, will have the opportunity to express yourselves and to push for the necessary changes in order to create value for all stakeholders.
Shareholders have a historic chance to transform the governance of the group and build a Stronger Lagardère.
Voting for a new Supervisory Board is the first step on that journey, and we have the opportunity to make it happen on the 5th of May 2020: Make your voice heard; vote for our resolutions!