InformationregardingtheCompanyandcorporategovernance
1
7
LISI 2014FINANCIALREPORT
I
139
2.5.8Performancesharesthatbecameavailableduringtheperiodforeachcorporateofficermanager
Plan number
and allocation
date
Number of shares
that became
available during
the period*
Acquisition
date
Date of
availability
Conditions*
GillesKOHLER
Function:Chairmanand
ChiefExecutiveOfficer
Nr.: 8
Date: 26/10/2011
6,125
26/02/2014
26/02/2016
1,000shareswereacquiredat the timeof
theawardand1,000sharesmustbeheld
in registered formuntil the termination
of the functionofCEO
Total
EmmanuelVIELLARD
Function:DeputyChairman
Nr.: 8
Date: 26/10/2011
5,950
26/02/2014
26/02/2016
1,000shareswereacquiredat the timeof
theawardand1,000sharesmustbeheld
in registered formuntil the termination
of the functionofDeputyCEO
Total
*Takesthe1:5stocksplit intoaccount.
2.6
|
Implementationof theAFEP-MEDEFCode's “applyorexplain” rule
Excludedprovisions of theAFEP-MEDEFCode
Explanations
Numberof independentmembersontheBoard
Art9.2: theproportionof independentdirectorsshouldbe
at leastone third incontrolledcompanies.
According to thecriteriaof theAFEP-MEDEFCode referred toby thecompany,
Mr.EricAndré,whohasbeendirector forover12years,no longerenjoys thestatus
of independentdirector.Consequently, the ruleaccording towhich theboard
shouldcompriseone thirdof independentdirectors isno longer respected. In2015
and2016, twonew female independentdirectorswillbeappointed,whichwill
regularize thesituation.
CompositionoftheAuditCommittee
Art16.1: theproportionof independentdirectors in theAudit
Committeeshouldbeat least two thirds.
TheAuditCommittee iscomposedof three independentdirectors,one thirdof
seniordirectorsandone thirdofnon-independentdirectors.Anew independent
directorwillbeappointed to thecommittee in2015 to reach thenumber required
by theAFEP-MEDEFCode.
LISIsharestobeheldbydirectors
Article20: except ifotherwiseprovidedby law, thedirector should
beashareholderpersonallyandholda relativelysignificantnumber
of shares in relation to the fees received: failing tohold theseshares
upon takingoffice,he/shemustuse itshis/herattendance feesupon
theiracquisition
Directorswhoarenotyet incompliancewith this recommendationshall regularize
thesituationduring theyear.
3
|
Company's internalcontrol
Descriptionoftheinternalcontrolenvironment
3.1
|
Generaldescription
The wider internal control environment is based on a decentralized
organizationwithineachdivision.AnExecutiveCommittee isresponsible
forratifyingaglobalpolicy,whichmustthenbechanneleddowntoeach
individualdepartment.
TheGrouphassetoutanumberofprocedures,summarizedinaninternal
Group controlmanual, which is available to all relevant Group staff via
an intranet site. This manual is supplemented by a Group accounting
procedures manual. In addition, the Group has deployed a uniform
reporting and information system in each division using an identical
procedureeachtime.
