Currently being drafted by Parliament, the bill to boost business financing and France's attractiveness proposes a series of measures designed to facilitate company IPOs.
Alongside the AEMA group and FIR, Impact France is fully mobilized to make this text a real lever for shareholder democracy.
In detail, the text voted by the National Assembly proposes :
We are proposing to lower the threshold of shareholder ownership required to table a resolution at a shareholders' meeting in large listed companies with capital in excess of one billion euros.
Indeed, French regulations governing the admissibility of resolutions are no longer adapted to the gigantism of our major companies, unlike in other major European financial centers (e.g. Germany, Sweden, the UK). At the same time, French institutional investors are increasingly obliged to direct the savings of French citizens towards companies that are virtuous in environmental, social and governance terms.
This lack of coherence poses a risk to the attractiveness of the Paris stock market and our major companies for a growing number of investors, who are in charge of the savings of French people who are increasingly keen to put their savings at the service of the ecological transition in particular. Facilitating the filing of resolutions will therefore create a climate of confidence in the future of our investors, by encouraging informed and calm shareholder dialogue on major strategic issues within our companies.
We propose to guarantee a right of expression to shareholders who meet the conditions for placing an item or resolution on the agenda of the Annual General Meeting.
Indeed, while the dematerialization of certain meetings can sometimes facilitate exchanges, there is a greater risk that shareholders will not be able to express themselves under such conditions, unlike the way they can do so at physical meetings. The aim of this proposal is therefore to protect shareholders' interest in having the guarantee of an informed and calm debate in the face of the progressive digitization of shareholders' meetings.
We are proposing to extend the deadlines for requesting the inclusion of items or draft resolutions on the agenda of the general meeting of a listed company.
In fact, French regulations governing the admissibility of resolutions are no longer adapted to the gigantic size of our major companies and the challenges they face, unlike in other major European financial centers (e.g. Germany, Sweden and the UK). At the same time, French institutional investors are increasingly obliged to direct the savings of French citizens towards companies that are virtuous in environmental, social and governance terms.
This lack of coherence poses a risk to the attractiveness of the Paris stock market and our major companies for a growing number of investors, who are in charge of the savings of French people who are increasingly keen to put their savings at the service of the ecological transition in particular. Facilitating the filing of resolutions will therefore create a climate of confidence in the future of our investors, by encouraging informed and calm shareholder dialogue on major strategic issues within our companies.
We propose to allow 150 shareholders to initiate a debate at the Annual General Meeting.
Indeed, French regulations governing the admissibility of resolutions are no longer adapted to the gigantism of our major companies, unlike in other major European financial centers (e.g. Germany, Sweden and the UK). At the same time, French institutional investors are increasingly obliged to direct the savings of French citizens towards companies that are virtuous in environmental, social and governance terms.
This lack of coherence poses a risk to the attractiveness of the Paris stock market and our major companies for a growing number of investors, who are in charge of the savings of French people who are increasingly keen to put their savings at the service of the ecological transition in particular. Facilitating the filing of resolutions will therefore create a climate of confidence in the future of our investors, by encouraging informed and calm shareholder dialogue on major strategic issues within our companies.
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