Lagardère welcomes the decision of the President of the Paris Commercial Court

Lagardère SCA notes the decision announced today by the President of the Paris Commercial Court (Tribunal de Commerce de Paris), rejecting the request by Amber Capital and Vivendi to call an extraordinary general meeting.

The Managing Partners and Supervisory Board welcome the Court’s decision, which is in the corporate interests of the Group, whose governance bodies require stability to devote full attention to implementing the new strategic roadmap adapted to managing the Covid-19 crisis.

Lagardère notes that in its decision, the Court notably underlined the perfect legality and appropriateness of re-appointing Arnaud Lagardère as Managing Partner in August, as well as the absence of evidence to support the allegations made by Amber Capital and Vivendi that the members of the Supervisory Board lack independence or a critical approach in performing their duties.

The Managing Partners and the Supervisory Board reiterate their shared desire to remain engaged and to restore constructive and composed dialogue with the shareholders, as well as to maintain a stable governance organisation in the interests of the Group and all of its stakeholders.