The Shareholders' Meeting deliberates on the approval of the Annual Financial Statements, decides on the allocation of the profit and establishes the amount of dividends to be paid.
Purpose of the Annual Shareholders' Meeting
The main purpose of the Annual Shareholders' Meeting is to deliberate on the approval of the Annual Financial Statements and, as a result, decide on the allocation of the result, that is to say, establish the amount of dividends to be paid. It is also authorized to appoint Directors to the Board and the Statutory Auditors and to fix the total amount of fees to be paid to Directors of the Board. The decisions of the Annual Shareholders' Meeting are carried by a simple majority.
Extraordinary Shareholders' Meeting
An Extraordinary Shareholders Meeting is held to take any decision that might lead to the modification of the Articles of Association of Sodexo, such as an increase or reduction in its capital, a change in the name of the Company, etc... The decisions taken by this Meeting requires a two-thirds majority.
When the same Meeting has to consider resolutions, some of which are to be taken by the Annual Shareholders' Meeting and others by the Extraordinary Shareholders Meeting, it is known as a combined Annual Shareholders' Meeting and Extraordinary Shareholders' Meeting.