PARIS--(BUSINESS WIRE)--Regulatory News:
The Board of Directors of Rallye (Paris:RAL), meeting on 28 April 2020 under the chairmanship of Mr Jean-Charles Naouri, has set 26 June 2020 as the date for the Annual General Meeting of shareholders, initially scheduled for 20 May 2020. The terms and conditions of this General Meeting will be specified to shareholders at a later date.
In the current context linked to the Covid-19 pandemic around the world, and its unprecedented impacts, the General Manager, Mr Franck Hattab, decided to reduce his remuneration by 25% for the months of April and May 2020. Furthermore, the fixed compensation of the General Manager will not be increased in 2020.
The Directors of the Board of Directors and the advisors have also agreed to waive their compensation on equal terms.
The corresponding sums will be paid into the Common Solidarity Fund set up by the Fondation de France, APHP and Institut Pasteur, for the benefit of healthcare personnel in relation to Covid-19.
This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. No representation or warranty, either express or implicit, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for exercise of their own judgement. All opinions expressed herein are subject to change without notice.