LISI 2012 FINANCIAL REPORT
114
7
Information regarding the Company and corporate governance
renewable by periods of one year, year on year, as stipulated in
the collective commitment.
On the date of this document, these commitments made
under article 885 I bis and article 787 B of the General Tax Code
have been kept.
It is also stated that interests held in CIKO CID, stand at 48,013
shares out of a total of 159,495 at December 31, 2012.
1.3.2 LISI S.A. shareholding.
The latest TPI analysis ("Identifiable bearer security"), conducted
on January 31, 2008, identified 2,343 shareholders on the
floating capital, which accounted for approximately 32% of
the total number of shares. At that date, the breakdown was
as follows:
•
French institutional investors: 137 holding 11.7% of the
capital stock,
•
International institutional investors: 111 holding 15.7% of the
capital stock,
•
French and international individual shareholders: 2,095
holding 2.6% of the capital stock.
1.3.3 LISI S.A. treasury shares.
As at December 31, 2011, LISI S.A. held 378,804 of its own
shares, or 3.5% of share capital. No shares were cancelled.
1.4 Relationship between the company
and its subsidiaries
LISI S.A. operates as a holding and support company for its
subsidiaries. It manages its portfolio of interests, the funding of
its operations and those of its subsidiaries, as well as exchange
rate, interest rate and liquidity risks. If necessary, it can also
grant loans to its subsidiaries and centralize the group’s cash
flow surpluses, within the scope of a cash management
agreement. These operations are charged at the market price
plus a margin.
In France, LISI S.A. is the parent company of a group consolidated
for fiscal purposes. In accordance with the express provisions
of the Fiscal Consolidation Agreement, tax credit is retained
by the parent company, and companies are not entitled to
compensation should they leave the consolidation perimeter.
LISI S.A. offers its subsidiaries a number of services and skills
relating to central functions, such as legal and fiscal support,
financial support, management controls, procedures and
audits, insurance management and assistance with human
resources, health, safety, and environmental matters. The
three divisions pay LISI S.A. a normal level of compensation for
these services, based on the operating expenses incurred for
the period, multiplied by a coefficient; these charge-backs are
broken down proportionally to each division's added value.
