Participation at the CNP Assurances annual general meeting of 22 April 2008
Record date
The record date for the Annual General Meeting is Thursday, 17 April 2008.
Voting rights are exercisable on shares that are recorded (i) in a share account in the holder’s name or in the name of the bank or broker registered as acting on their behalf, by the record date (in practice, before midnight on Thursday, 17 April) or (ii) in the registered share account kept by the Company’s registrar, CACEIS Corporate Trust, or (iii) in a bearer share account held by the accredited bank or broker. Ownership of bearer shares is evidenced by a certificate (attestation de participation or attestation d’inscription en compte) issued by the accredited bank or broker and sent to the shareholder with the proxy documents.
Notice of meeting and voting forms
The notice of meeting, together with the postal voting form/proxy form/request for an admission card, will be sent to all holders of registered shares. Holders of bearer shares should obtain these documents from their bank or broker.
Postal votes
Postal votes must be received by the Company or by CACEIS Corporate Trust, Service Assemblées, 14 rue Rouget de Lisle, 92862 Issy les Moulineaux, Cedex 9, France by 19 April.
Cancellation of postal votes and proxies
Shareholders who have voted by post or given proxy may nevertheless participate in the General Meeting provided that it is technically possible to cancel their postal vote or the proxy.
On-line voting
To obtain the username and password required to vote on line:
Holders of registered shares will be sent a username and password by CACEIS Corporate Trust together with the proxy documents.
Holders of bearer shares should return to their bank or broker, before 14 April, the document entitled “Demande d’attestation de participation réservée uniquement aux actionnaires au porteur souhaitant exprimer leur mode de participation à l’AG via l’Internet”, for onward transmission to CACEIS Corporate Trust, which will send back the username and password.
Press release
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Annual General Meeting
Paris, 22 April 2008
Annual general meeting of CNP Assurances of 22 April 2008
At the CNP Assurances Annual General Meeting, held in Paris on 22 April 2008 under the chairmanship of Edmond Alphandéry, Chairman of the Board of Directors, shareholders approved the financial statements of the Company and the Group for the year ended 31 December 2007.
During the meeting, Mr. Alphandéry reviewed the economic and financial environment prevailing since the US subprime mortgage crisis emerged during summer 2007. He reminded shareholders that the crisis did not have much of an impact on CNP Assurances' 2007 earnings.
Then, Gilles Benoist, Chief Executive Officer, presented the Group's operations during the year and its outlook for growth. In particular, he discussed the figures for new money invested in life insurance products in France in the first quarter of 2008, which was down 10% for the period and 18% in the bancassurance segment. He indicated that, excluding the impact of Fourgous transfers, CNP Assurances' first-quarter business in France should be in line with the bancassurance segment, and reminded shareholders that earnings growth was primarily driven by increases in technical reserves.
In the light of this, Mr. Benoist confirmed the Group's 2008 earnings target for the year. "Unless the financial crisis worsens considerably, we expect a rise in technical reserves to power double-digit growth in the Group's recurring profit in 2008, despite a possible decline in the French market."
Shareholders also approved all of the proposed resolutions, including the payment of a dividend of €2.85 per share, to be paid as from 29 April 2008.
Written Questions
Questions/Resolutions
Written questions to the President of the Executive Board should be sent to the Company by registered mail, or by e-mail to questions-ecritesAGM2008@cnp.fr for receipt by 16 April. Evidence of ownership of CNP shares must be provided with the question.
Shareholders wishing to table resolutions at the Annual General Meeting should notify the Company by registered mail within ten days of the notice of meeting being published. They should include with their letter a certificate evidencing their ownership of CNP shares.