Legrand: Information Concerning the Combined Ordinary and Extraordinary Meeting of Shareholders to Be Held on May 27, 2020

LIMOGES, France--()--Regulatory News:

Legrand’s (Paris:LR) Board of Directors met on Friday, April 10, to decide on conditions for holding the Combined General Meeting of Shareholders, which is confirmed for Wednesday, May 27, 2020.

Given the current exceptional health crisis, and in keeping with the provisions of article 4 of Order 2020-321 of March 25, 2020, it was decided to hold the next Combined Ordinary and Extraordinary Shareholders’ Meeting in closed session. The proceedings will be relayed on the legrandgroup.com website.

Shareholders are thus invited to vote remotely (via the secure Voteaccess website or by paper ballot) and to put questions in writing in accordance with procedures that will be set out in the notice calling the meeting.

In addition, resolutions to be put to shareholders will be published in the “Bulletin des Annonces Légales Obligatoires” (BALO), France’s official bulletin of legal notices, on April 20, 2020. In particular, the following proposals will be submitted to a vote by the shareholders:

  • a freeze of the dividend amount to be paid in respect of 2019 at the prior year’s level, returning it to €1.34 per share compared with €1.42 initially announced on February 13, 2020;
  • a freeze of the fixed portion of the annual compensation to be paid to the Chief Executive Officer, in respect of 2020 and compared with 2019, and a 25% reduction in his total annual compensation1, following his decision to forgo the increase initially planned;
  • a freeze of directors’ compensation, in respect of 2020 and compared with 2019, the directors having forgone the increase initially planned.

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About Legrand

Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial and residential markets makes it a benchmark for customers worldwide. Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing its strategy of profitable and sustainable growth driven by acquisitions and innovation, with a steady flow of new offerings—including Eliot* connected products with enhanced value in use. Legrand reported sales of over €6.6 billion in 2019. The company is listed on Euronext Paris and is notably a component stock of the CAC 40 index.
(code ISIN FR0010307819)
https://www.legrandgroup.com

*Eliot is a program launched in 2015 by Legrand to speed up deployment of the Internet of Things in its offering. A result of the group’s innovation strategy, Eliot aims to develop connected and interoperable solutions that deliver lasting benefits to private individual users and professionals.
https://www.legrandgroup.com/en/group/eliot-legrands-connected-objects-program

1 Through a 50% reduction of the target value of the long-term variable portion, and a freeze of the fixed portion and of the target value of the annual variable portion of the compensation.

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Contacts

Investor relations
Legrand
Ronan Marc
Tel: +33 (0)1 49 72 53 53
ronan.marc@legrand.fr

Press relations
Publicis Consultants
Vilizara Lazarova
Tel: +33 (0)1 44 82 46 34
Mob: +33 (0)6 26 72 57 14
vilizara.lazarova@publicisconsultants.com

Contacts

Investor relations
Legrand
Ronan Marc
Tel: +33 (0)1 49 72 53 53
ronan.marc@legrand.fr

Press relations
Publicis Consultants
Vilizara Lazarova
Tel: +33 (0)1 44 82 46 34
Mob: +33 (0)6 26 72 57 14
vilizara.lazarova@publicisconsultants.com