106
I LISI FINANCIALREPORT2013
INFORMATIONREGARDINGTHECOMPANYANDCORPORATEGOVERNANCE
7
1.3.2LISIS.A.shareholding
The latest TPI analysis ("Identifiable bearer security"), conducted on
December 31, 2013, identified2,432 shareholderson the floating capital,
whichaccounted forapproximately30.5%of the total numberof shares
out of a total floating capital of 31.3%. At that date, thebreakdownwas
as follows:
n
French institutional investors: 145holding13.8%ofthecapitalstock,
n
International institutional investors: 138 holding 15.1% of the capital
stock,
n
Frenchand international individual shareholders: 2,149holding 1.6%of
thecapitalstock.
1.3.3LISIS.A.treasuryshares
AsatDecember31,2013,LISIS.A.held304,314of itsownshares,or2.82%
of share capital. No shares were cancelled. These shares are primarily
intended tobeused in the formof performance shares, asdescribed in
paragraph2.7.2.2.
1.4
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RELATIONSHIPBETWEENTHECOMPANYAND ITS
SUBSIDIARIES
LISIS.A.operatesasaholdingandsupportcompanyfor itssubsidiaries. It
manages itsportfolioof interests, thefundingof itsoperationsandthose
of its subsidiaries, as well as exchange rate, interest rate and liquidity
risks. Ifnecessary, itcanalsogrant loans to itssubsidiariesandcentralize
thegroup’scash flowsurpluses,within thescopeofacashmanagement
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 accordancewith the express provisions of the Fiscal
ConsolidationAgreement, tax credit is retainedby theparent company,
and companies arenot entitled to compensation should they leave the
consolidationperimeter.
LISI S.A. offers its subsidiaries a number of services and skills relating
to central functions, suchas legal and fiscal support, financial support,
management controls, procedures and audits, insurancemanagement
andassistancewithhuman resources,health, safety,andenvironmental
matters.The threedivisionspayLISIS.A.anormal levelofcompensation
for these services, based on the operating expenses incurred for the
period,multipliedbyacoefficient; thesecharge-backsarebrokendown
proportionallytoeachdivision'saddedvalue.
Datawithrelatedcompaniesareas follows:
Amount concerning
(In€'000)
relatedcompanies
companies inwhich thecompany
hasaparticipating interest
ASSETS:
Receivables related toequityholdings
6,500
-
Debtorsandapportionedaccounts
4,264
-
Cashadvances tosubsidiaries
205,030
-
Tax integrationcurrentaccount
1,357
-
LIABILITIES:
Subsidiaries’ financial assistance
159,526
-
Tax integrationcurrentaccount
1,679
-
Suppliers
165
-
INCOMESTATEMENT:
ITmaintenance
19
-
Reserves forequity interests
1,594
-
Sales revenuewithsubsidiaries
8,563
-
Miscellaneouschargebacks
245
-
Revenues fromsubsidiaries' loansandcurrentaccounts
2,318
-
Revenues fromequity interest
14,005
-
