Largardere repeats to return any EADS div; to give evidence to regulator in May |
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Published
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Fri, 27 Apr 2007 14:11
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PARIS (Thomson Financial) - Lagardere SCA chief executive Arnaud Lagardere said his group will return its share of any dividend distributed by EADS, in which it has a 7.5 pct stake, while also announcing he will give evidence to French financial regulator AMF at the end May as part of an ongoing investigation into alleged insider trading of EADS shares.Speaking at the company's AGM, Arnaud Lagardere said he expects a total dividend of around 13 mln eur to be redistributed to EADS shareholders, compared to a possible maximum of 200 mln eur, under the pressure of some small shareholders.'We will leave this dividend with EADS,' he stated, arguing the need to show 'solidarity' with the company in the context of the Power8 restructuring plan, which calls for 10,000 job cuts.After failing to agree on the issue, the EADS board is to let shareholders decide at the May 4 AGM whether a dividend be paid for last year.Separately, Arnaud Lagardere said neither he or his group carried out insider trading of EADS shares, while refusing to comment further before giving evidence to court and regulatory investigations.He announced that he is to appear before the AMF at the end of May, as part of the regulator's ongoing inquiry into whether EADS directors sold shares last year shortly before delays to the A380 superjumbo were revealed.Concerning the severance pay awarded to former EADS co-president Noel Forgeard, he again rejected press reports that French finance minister Thierry Breton pushed for the payout, saying that 'he did not intervene one way or the other'.tfn.paris@thomson.comgt/rfwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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