Accor Sa · EURONEXT:AC
Accor Sa — Shareholder Meeting (May 2023)
93 slides from Accor Sa's shareholder meeting presentation, May 17, 2023
Slide 1: Combined Shareholders' Meeting
Combined Shareholders’ Meeting May 17, 2023 A ACCOR
Slide 2: Sébastien Bazin
MGallery V Villas Phuket, Thailand 1 Sébastien Bazin Chairman & CEO
Slide 3: Besma Boumaza
Tribe Perth Kings Park - Australia 2 Besma Boumaza Group General Counsel & Board Secretary
Slide 4: Jean-Jacques Morin
Mercure Maldives Kooddoo Resort 3 Jean-Jacques Morin Deputy CEO
Slide 5: 2022 Results
MGallery The Porter House Sydney, Australia 1 2022 Results
Slide 6: FY 2022 Financial Highlights
FY 2022 Financial Highlights FY22 results supporting Buoyant activity recovery return to shareholders 1 FY 22 RevPAR +2% L/L vs. FY19 1 Revenue at €4,224m Q4 22 +15% L/L vs. Q4 19, +80% L/L vs. FY 21 sequential improvement vs. Q3 22 +4% L/L vs. FY 19 2 FY 22 Net Unit Growth at +3.2% 2 EBITDA at €675
Slide 7: From EBITDA to Net Profit
From EBITDA to Net Profit In € millions FY 2021 FY 2022 EBITDA 22 675 Depreciation, amortization and provision (249) (228) EBIT (228) 447 (a) Share of profits/losses of associates and JVs (273) 33 (a) AccorInvest recovery Non-recurring items 554 (b) 63 (b) In 2021, mostly H World Group Operating pro
Slide 8: Wise Financing Management
Wise Financing Management Debt profile as of December 2022 Benefit from balance sheet initiatives excluding Hybrid debt In €m Sound debt profile coupled with a solid Sustainability 1 liquidity Linked Bond (€2.8bn at Dec 22 incl. €1.2bn undrawn credit facility) Convertible Bond Commercial 2 Favourabl
Slide 9: Q1 2023 Business
Rixos Premium Gocek - Mugla - Turquie 2 Q1 2023 Business
Slide 10: A strong RevPAR recovery
A strong RevPAR recovery (Revenue per room) Vs 2019 Occupancy Price +19% +15% RevPAR +14% +1% -25% 0 Q1 Q2 Q3 Q4 Q1 2022 2023
Slide 11: Q1 2023 Financial Highlights
Q1 2023 Financial Highlights Financial Highlights Trading Momentum 1 Systemwide RevPAR 1 Strong catch-up from Asia-Pacific +57% L/L vs. Q1 22 Systemwide RevPAR +77% L/L vs. Q1 22 +19% L/L vs. Q1 19 2 Net Unit Growth 2 Intact pricing power: Systemwide ARR +2.9% LTM 27% L/L above Q1 19 22% L/L above Q
Slide 12: Share price evolution since January 1st, 2023
Share price evolution since January 1st, 2023 (Basis 100) 140 +35% 135 ACCOR 130 125 120 +14% CAC 40 115 ESG 110 +11% SBF 120 105 100 Jan-23 Feb-23 Mar-23 Apr-23 May-23
Slide 13: Resumption of dividend payment for FY 2022
Resumption of dividend payment for FY 2022 €1.05 €1.05 per share per share Subject to the approval of the shareholders during this Shareholders’ Meeting 2018 2019 2020 2021 2022
Slide 14: Sébastien Bazin
Sofitel Rome Villa Borghese - Italy 4 Sébastien Bazin Chairman & CEO
Slide 15: Our strongest assets
Our strongest assets 290,500 A brand A strong A network Heartists® powerhouse committement around the World covering every of 5,445 hotels and toward society and segment and every strong leadership the environment geography positions Sofitel Legend Casco Viejo Condesa, Panama
Slide 16: The Heartists culture in 2022
The Heartists® culture in 2022 €70m 200 + 39% + 123,590 + 99,595 allocated to Partnerships of women in Hirings in Hours of the ALL with schools management 2022 training Heartist and universities committees Fund
Slide 17: Continuation of our actions of solidarity in 2022
Continuation of our actions of solidarity in 2022 • Integrate populations trough training or • Emergency financial assistance dedicated to business creation programs the 290 000+ Heartists®, partners and • Promote social inclusion and access to professionals employment • Opened since 2022 to the nee
Slide 18: Openings and emblematic projects in 2022
Openings and emblematic projects in 2022 MGallery Queen Jo&Joe Largo SO/ Paris, France Novotel Mexico Raffles/Fairmont Pullman Suzhou Elisabeth II, do Boticario, Brazil City World Trade Doha, Qatar Taicang, China United Arab Center, Mexico Emirates
Slide 19: A new phase in our transformation
A new phase in our transformation Accor Corporate & Shared services Premium, Midscale and Economy Luxury & Lifestyle Market driven Brand driven AMERICAS EUROPE NA MEASPAC G. CHINA RAFFLES / OE FAIRMONT SOFITEL / MG ENNISMORE
Slide 20: An adapted organization
An adapted organization GROUP MANAGEMENT BOARD Sébastien Bazin CHAIRMAN & CEO Jean-Jacques Morin Besma Boumaza Steven Daines Brune Poirson Kamal Rhazali Floor Bleeker Alix Boulnois Caroline Tissot DEPUTY CEO GROUP GENERAL COUNSEL & CHIEF CHIEF SUSTAINABILITY SECRETARY GENERAL & CHIEF CHIEF CHIEF & C
Slide 21: The Group priorities
The Group priorities Reap the benefit of the rebound in activity thanks to our strong brands Continue the implementation a simplified and more efficient model Guarantee sustainable growth and perpetuate the return to shareholders Further strengthen our social and environmental ambitions
Slide 22: Brune Poirson
Jo&Joe Largo do Boticario, Rio de Janeiro - Brazil 5 Brune Poirson Chief Sustainability Officer
Slide 23: Accor's sustainability strategic framework
Accor’s sustainability strategic framework People People Natur Nature e Eat Explore
Slide 24: Accor's sustainability strategic framework
Accor’s sustainability strategic framework Stay Stay People People Natur Nature e Explore Eat Eat Explore
Slide 25: Accor's sustainability strategic framework
Accor’s sustainability strategic framework SU STAINABL E O PE R ATIO NS ECO - DESIGN ATTRACTIVITY Stay Stay R E S PO NS IBL E S HAR E S PACE S O U R CING WITH NATU R E People People Natur L O CAL CO MMU NITY Nature e FO O D WAS TE Explore Eat Eat S U S TAINABIL ITY Explore S HIF T F O O D CO NS U M
Slide 26: 2022: Turning Sustainability into a business priority
2022: Turning Sustainability into a business priority 01 02 03 04 Governance Mindsets Solutions Collaboration Implementation of a robust Embedding Sustainability Design and Continuing our coalition and efficient governance into the Group's culture implementation work for systemic change allowing us
Slide 27: Robust 2022 extra-financial performance
A commitment that translates into a robust 2022 extra-financial performance CARBONE EMISSIONS SINGLE USE PLASTICS ESG TRAINING WOMEN IN LEADERSHIP (15.8)% scope 1 & 2 vs 2019 84% 97% (+6% vs 2021) of the hotels of employees have 39% removed 46 single- completed 6-hour of women use plastics items tra
Slide 28: Robust extra-financial performance
A commitment that translates into a robust extra-financial performance A- A 67 2022 2022 2022 Accor is part of CAC 40 ESG CAC 40 ESG
Slide 29: Pioneering sustainability initiatives: Ibis Dubai
Accor hotels have already implemented pioneering sustainability initiatives The Ibis Dubai Mall of the Emirates has deployed an analytics platform that enables: • 60% food waste reduction in one year • ~5.8k€ costs savings per year • 22.5 tCO2 avoided since April 2022 Ibis Dubai Mall of the Emirates
Slide 30: Pioneering sustainability initiatives: Novotel Wolverhampton
Accor hotels have already implemented pioneer sustainability initiatives The Novotel Wolverhampton is one of the first hotels of our network that removed 100% of plastic watter bottles in guest rooms Ibis Dubai Mall of the Emirates, UAE Sofitel Baru Calablanca, Colombia Fairmont Royal York, Canada
Slide 31: Pioneering sustainability initiatives: Sofitel Baru Calablanca
Accor hotels have already implemented pioneer sustainability initiatives The Sofitel Baru Calablanca received the 2023 International Sustainable awards. It is Colombia’s first sustainable hotel. For ex: 90% of the hotel’s F&B offer is local, vegetarian or vegan Ibis Dubai Mall of the Emirates, UAE N
Slide 32: Pioneering sustainability initiatives: Fairmont Royal York
Accor hotels have already implemented pioneer sustainability initiatives The Fairmont Royal York is engaged to reduce its current carbon emissions by 80% through a deep renovation that will take place in 2023-2024 Ibis Dubai Mall of the Emirates, UAE Novotel Wolverhampton, UK Sofitel Baru Calablanca
Slide 33: Higher social & environmental ambitions, greater impact
Higher social & environmental ambitions, greater impact Stay Eat Explore • Zero single use plastic by • Reduce of 30% food waste • Favour, whenever possible, 2025 by 2025 low-emission mobility offers for our guests • Reduce our absolute carbon emissions of 25% (Scope 1&2) • Embrace a nature-positive
Slide 34: Besma Boumaza
Fairmont Banff Springs, Banff - Canada 6 Besma Boumaza Group General Counsel & Board Secretary
Slide 35: Composition of the Board of Directors in 2022
Composition of the Board of Directors in 2022 12 60% 50% Directors (including 2 Directors of Directors are independant of Directors are women representing employees) 13 in 2023 subject to the approval of all 64% in 2023 subject to the approval of all 55% in 2023 subject to the approval of all resolu
Slide 36: Composition of the Board at the close of the Shareholders' Meeting
Composition of the Board of Directors at the close of the Shareholders’ Meeting* Ms. Asma Mr. Ugo Ms. Hélène Mr. Sébastien Ms. Anne-Laure Ms. Iliane Ms. Qionger Abdulrahman Arzani Auriol Potier Bazin Kiechel Dumas Jiang Al-Khulaifi INDEPENDANT INDEPENDANT REPRESENTING INDEPENDENT EMPLOYEES Ms. Iris
Slide 37: Board of Director's works in 2022
Board of Director’s works in 2022 11 meetings with an average attendance rate of 90% Key topics covered : • Monitoring of work done by the ALL Heartist Fund • Monitoring the Group’s positioning in Ukraine • Approval for entering into exclusive negotiations for the sale of the company holding the hea
Slide 38: Board of Directors' Committees in 2022
Board of Directors’ Committees in 2022 4 specialized committees 01 02 03 04 Audit, Compliance Appointments, Commitments International and Risks Compensation & Committee Strategy Committee CSR Committee Committee 3 members 5 members 5 members 7 members 4 meetings in 2022 80% of Independent 1 meeting
Slide 39: Report of the Appointments & Compensation Committee
MGallery The Silveri – Hong-Kong 7 Report of the Appointments & Compensation Committee Bruno Pavlovsky Committee Chairman
Slide 40: Statutory Auditors' reports
ibis Styles Paris Porte de Versailles, Issy-les-Moulineaux - France 8 Statutory Auditors’ reports Jean-Christophe Goudard Ernst & Young et Autres
Slide 41: Ordinary resolutions
Universal Notice of Ordinary resolutions Resolution Registration Document meeting Statutory Auditors’ report on the financial statements 1 p. 388 p. 64 Statutory Auditors’ report on the consolidated financial statements 2 p. 352 p. 60 Statutory Auditors’ special report on related-party agreements 12
Slide 42: Extraordinary resolutions
Universal Notice of Extraordinary resolutions Resolution Registration Document meeting Statutory Auditors’ report on the capital reduction 17 N/A p. 72 Statutory Auditors’ report on the issue of shares and other securities with and/ or without pre-emptive subscription rights for existing 18/19/20/21
Slide 43: Presentation of the resolutions
Sofitel Legend Old Cataract, Assouan - Egypte 9 Presentation of the resolutions Besma Boumaza Group General Counsel & Board Secretary
Slide 44: First to third resolutions
First to third resolutions APPROVAL OF THE PARENT COMPANY & THE CONSOLIDATED FINANCIAL STATEMENTS FOR FISCAL YEAR ENDED DECEMBER 31, 2022 Parent company financial statements Net accounting profit: €163,722,783.18 Consolidated financial statements Consolidated revenue: €4,224 million Net profit, Grou
Slide 45: Fourth to sixth resolutions
Fourth to sixth resolutions RENEWAL OF 3 DIRECTORS Mr. Sébastien Bazin Ms. Iris Knobloch Mr. Bruno Pavlovsky Non-independent Director Independent Director Independent Director For a statutory 3-year term
Slide 46: Seventh resolution
Seventh resolution APPOINTMENT OF 1 NEW DIRECTOR Ms. Anne-Laure Kiechel Independent Director For a statutory 3-year term
Slide 47: Eighth and ninth resolutions
Eighth and ninth resolutions COMPENSATION FOR FISCAL YEAR 2022: EX POST SAY-ON-PAY • Resolution No. 8: Shareholders’ approval on the report relating to the 2022 compensation of all executive officers (Directors) • Resolution No. 9: Shareholders’ approval on fixed, variable and exceptional components
Slide 48: Tenth and eleventh resolutions
Tenth and eleventh resolutions COMPENSATION FOR FISCAL YEAR 2023: EX ANTE SAY-ON-PAY • Resolution No. 10: Shareholders’ approval on the compensation policy applicable to the Chairman and Chief Executive Officer for fiscal year 2023 • Resolution No. 11: Shareholders’ approval on the compensation poli
Slide 49: Twelfth to fifteenth resolutions
Twelfth to fifteenth resolutions APPROVAL OF RELATED-PARTY AGREEMENTS – SPECIAL REPORT OF THE STATUTORY AUDITORS • Approval of a sponsorship agreement with Fondation de France (acting in the name and on behalf of Fondation G&G Pélisson) with a view to providing financial support, alongside the Accor
Slide 50: Sixteenth resolution
Sixteenth resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO TRADE IN THE COMPANY’S SHARES • Maximum number of shares that may be acquired: 10% of the share capital • Maximum purchase price: €70 per share • Duration: 18 months • Buyback excluded in a public offer period
Slide 51: Seventeenth resolution
Seventeenth resolution REDUCTION OF THE COMPANY’S SHARE CAPITAL BY CANCELLING TREASURY SHARES • Maximum number of shares that may be cancelled: 10% of the share capital • Duration: 24 months
Slide 52: Eighteenth resolution
Eighteenth resolution INCREASE OF THE SHARE CAPITAL BY ISSUING ORDINARY SHARES AND/OR SECURITIES GIVING ACCESS TO THE SHARE CAPITAL WITH PRE-EMPTIVE SUBSCRIPTION RIGHTS FOR EXISTING SHAREHOLDERS • Maximum number of shares that may be issued: 50% of the share capital (approx. €394 million (1)) (1) At
Slide 53: Nineteenth resolution
Nineteenth resolution INCREASE OF THE SHARE CAPITAL BY ISSUING ORDINARY SHARES AND/OR SECURITIES GIVING ACCESS TO THE SHARE CAPITAL THROUGH A PUBLIC OFFER • Maximum number of shares that may be issued: 10% of the share capital (approx. €78 million (1)) • Share issue price: at least equal to the mini
Slide 54: Twentieth resolution
Twentieth resolution INCREASE OF THE SHARE CAPITAL BY ISSUING ORDINARY SHARES AND/OR SECURITIES GIVING ACCESS TO THE SHARE CAPITAL THROUGH AN OFFER IN ACCORDANCE WITH PARAGRAPH 1 OF ARTICLE L. 411-2 OF THE FRENCH MONETARY AND FINANCIAL CODE • Maximum number of shares that may be issued: 10% of the s
Slide 55: Twenty-first resolution
Twenty-first resolution INCREASE OF THE NUMBER OF SECURITIES TO BE ISSUED AS PART OF A SHARE CAPITAL INCREASE WITH OR WITHOUT PRE-EMPTIVE SUBSCRIPTION RIGHTS • Maximum: 15% of the initial issue
Slide 56: Twenty-second resolution
Twenty-second resolution ISSUE OF ORDINARY SHARES AND/OR SECURITIES GIVING ACCESS TO THE SHARE CAPITAL IN PAYMENT FOR CONTRIBUTIONS IN KIND MADE TO THE COMPANY • Maximum number of shares that may be issued: 10% of the share capital (approx. €78 million (1)) (1) At the date of the shareholders’ gener
Slide 57: Twenty-third resolution
Twenty-third resolution INCREASE OF THE COMPANY’S SHARE CAPITAL BY CAPITALIZING RESERVES, PROFITS OR THE SHARE PREMIUM ACCOUNT • Maximum number of shares that may be issued: 50% of the share capital (approx. €394 million (1)) (1) At the date of the shareholders’ general meeting
Slide 58: Twenty-fourth resolution
Twenty-fourth resolution BLANKET CEILING ON THE OVERALL AMOUNT OF CAPITAL INCREASES WHICH MAY BE CARRIED OUT PURSUANT TO THE ABOVE AUTHORIZATIONS Maximum issue: • 10% of the share capital (approx. €78 million (1)) for the capital increases carried out under the 18th to 23rd resolutions, and • 50% of
Slide 59: Twenty-fifth resolution
Twenty-fifth resolution SHARE CAPITAL INCREASES TO THE BENEFIT OF MEMBERS OF A GROUP EMPLOYEE SHARE OWNERSHIP PLAN (« PLAN D’ÉPARGNE ENTREPRISE ») • Issue of ordinary shares and/or securities carrying rights to shares, reserved for employees who are members of a Group employee share ownership plan (
Slide 60: Twenty-sixth resolution
Twenty-sixth resolution INCREASE THE SHARE CAPITAL BY ISSUING SECURITIES, WITHOUT PRE-EMPTIVE SUBSCRIPTION RIGHTS FOR EXISTING SHAREHOLDERS, TO THE BENEFIT OF CATEGORIES OF ACCOR GROUP EMPLOYEES • Issue of ordinary shares and/or securities carrying rights to shares, reserved for categories of Accor
Slide 61: Twenty-seventh resolution
Twenty-seventh resolution ISSUE OF FREE SHARE WARRANTS TO SHAREHOLDERS IN THE EVENT OF A PUBLIC OFFER ON THE COMPANY’S SHARES • Maximum issue: 25% of the share capital • Implementation subject to the prior approval of a special committee of the Board of Directors, chaired by the Vice-Chairman and Le
Slide 62: Twenty-eighth resolution
Twenty-eighth resolution POWERS TO CARRY OUT LEGAL FORMALITIES • Usual resolution granting powers to carry out the relevant formalities further to this Shareholders’ Meeting
Slide 63: Q&A
Pullman Orchad - Singapore 10 Q&A
Slide 64: Voting of the resolutions
Handwritten Relais San Martino Salento, Taviano - Italy 11 Voting of the resolutions
Slide 65: First resolution
First resolution APPROVAL OF THE COMPANY’S FINANCIAL STATEMENTS AND THE REPORTS THEREON FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022
Slide 66: Second resolution
Second resolution APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS AND THE REPORTS THEREON FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022
Slide 67: Third resolution
Third resolution ALLOCATION OF PROFIT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022
Slide 68: Fourth resolution
Fourth resolution RENEWAL OF MR. SÉBASTIEN BAZIN AS DIRECTOR OF THE COMPANY
Slide 69: Fifth resolution
Fifth resolution RENEWAL OF MS. IRIS KNOBLOCH AS DIRECTOR OF THE COMPANY
Slide 70: Sixth resolution
Sixth resolution RENEWAL OF MR. BRUNO PAVLOVSKY AS DIRECTOR OF THE COMPANY
Slide 71: Seventh resolution
Seventh resolution APPOINTMENT OF MS. ANNE-LAURE KIECHEL AS DIRECTOR OF THE COMPANY
Slide 72: Eighth resolution
Eighth resolution APPROVAL OF THE REPORT ON THE COMPENSATION OF EXECUTIVE OFFICERS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022 (EX POST SAY ON PAY)
Slide 73: Ninth resolution
Ninth resolution APPROVAL OF THE FIXED, VARIABLE AND EXCEPTIONAL COMPONENTS OF THE TOTAL COMPENSATION AND BENEFITS OF ANY KIND PAID DURING OR AWARDED FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022, TO MR. SÉBASTIEN BAZIN AS CHAIRMAN AND CHIEF EXECUTIVE OFFICER (EX POST SAY ON PAY)
Slide 74: Tenth resolution
Tenth resolution APPROVAL OF THE COMPENSATION POLICY APPLICABLE TO THE CHAIRMAN AND CHIEF EXECUTIVE OFFICER FOR FISCAL YEAR 2023 (EX ANTE SAY ON PAY)
Slide 75: Eleventh resolution
Eleventh resolution APPROVAL OF THE COMPENSATION POLICY APPLICABLE TO THE DIRECTORS FOR FISCAL YEAR 2023 (EX ANTE SAY ON PAY)
Slide 76: Twelfth resolution
Twelfth resolution APPROVAL OF A RELATED-PARTY AGREEMENT WITH FONDATION DE FRANCE
Slide 77: Thirteenth resolution
Thirteenth resolution APPROVAL OF A RELATED-PARTY AGREEMENT WITH ACCOR ACQUISITION COMPANY
Slide 78: Fourteenth resolution
Fourteenth resolution ACQUISITION APPROVAL OF A RELATED-PARTY AGREEMENT WITH PARIS SAINT GERMAIN FOOTBALL
Slide 79: Fifteenth resolution
Fifteenth resolution APPROVAL OF A RELATED-PARTY AGREEMENT WITH ROTANA MUSIC
Slide 80: Sixteenth resolution
Sixteenth resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO TRADE IN THE COMPANY’S SHARES
Slide 81: Seventeenth resolution
Seventeenth resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO REDUCE THE COMPANY’S CAPITAL BY CANCELLING TREASURY SHARES
Slide 82: Eighteenth resolution
Eighteenth resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO INCREASE THE SHARE CAPITAL BY ISSUING ORDINARY SHARES AND/OR SECURITIES GIVING ACCESS TO THE SHARE CAPITAL WITH PRE-EMPTIVE SUBSCRIPTION RIGHTS FOR EXISTING SHAREHOLDERS
Slide 83: Nineteenth resolution
Nineteenth resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO INCREASE THE SHARE CAPITAL BY ISSUING ORDINARY SHARES AND/OR SECURITIES GIVING ACCESS TO THE SHARE CAPITAL WITHOUT PRE- EMPTIVE SUBSCRIPTION RIGHTS FOR EXISTING SHAREHOLDERS THROUGH A PUBLIC OFFER
Slide 84: Twentieth resolution
Twentieth resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO INCREASE THE SHARE CAPITAL BY ISSUING ORDINARY SHARES AND/OR SECURITIES GIVING ACCESS TO THE SHARE CAPITAL WITHOUT PRE- EMPTIVE SUBSCRIPTION RIGHTS FOR EXISTING SHAREHOLDERS THROUGH AN OFFER IN ACCORDANCE WITH PARAGRAPH 1 OF ARTICLE L.
Slide 85: Twenty-first resolution
Twenty-first resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO INCREASE THE NUMBER OF SECURITIES TO BE ISSUED AS PART OF A SHARE CAPITAL INCREASE WITH OR WITHOUT PRE-EMPTIVE SUBSCRIPTION RIGHTS
Slide 86: Twenty-second resolution
Twenty-second resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO ISSUE ORDINARY SHARES AND/OR SECURITIES GIVING ACCESS TO THE SHARE CAPITAL IN PAYMENT FOR CONTRIBUTIONS IN KIND MADE TO THE COMPANY
Slide 87: Twenty-third resolution
Twenty-third resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO INCREASE THE COMPANY’S SHARE CAPITAL BY CAPITALIZING RESERVES, PROFITS OR THE SHARE PREMIUM ACCOUNT
Slide 88: Twenty-fourth resolution
Twenty-fourth resolution BLANKET CEILING ON THE OVERALL AMOUNT OF CAPITAL INCREASES WHICH MAY BE CARRIED OUT PURSUANT TO THE ABOVE AUTHORIZATIONS
Slide 89: Twenty-fifth resolution
Twenth-fifth resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO ISSUE ORDINARY SHARES AND/OR SECURITIES GIVING ACCESS TO THE SHARE CAPITAL TO THE BENEFIT OF MEMBERS OF AN ACCOR GROUP CORPORATE SAVINGS PLAN (PLAN D’ÉPARGNE ENTREPRISE) WITHOUT PRE-EMPTIVE SUBSCRIPTION RIGHTS FOR EXISTING SHAREHOLD
Slide 90: Twenty-sixth resolution
Twenty-sixth resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO INCREASE THE SHARE CAPITAL BY ISSUING SECURITIES, WITHOUT PRE-EMPTIVE SUBSCRIPTION RIGHTS FOR EXISTING SHAREHOLDERS, TO THE BENEFIT OF CATEGORIES OF ACCOR GROUP EMPLOYEES
Slide 91: Twenty-seventh resolution
Twenty-seventh resolution AUTHORIZATION FOR THE BOARD OF DIRECTORS TO ISSUE FREE SHARE WARRANTS TO SHAREHOLDERS IN THE EVENT OF A PUBLIC OFFER ON THE SHARES OF THE COMPANY
Slide 92: Twenty-eighth resolution
Twenty-eighth resolution POWERS TO CARRY OUT LEGAL FORMALITIES
Slide 93: Accor
ACCOR