The company tabled not less than six resolutions (6 - 12) on no-brainer banking arrangements with BNP Paribas and Société Générale because Hélène Ploix is an Director of BNP Paribas and Michel Cicurel a Director of the Société Générale, omitting as usual the amount of the paid bank fees…
The obvious objective of these antimissile decoys is to make us forget of the Golden Parachute for Maurice Levy's an arrangement that requested an increase in the company provision in 2009. His indemnity in 2011 will amount to the sum of bonuses he will have earned over the period 2003-2010 an amount estimated today to more than € 20 milllion plus another 18 months of pay for non-competition over three years; During the general meeting of June, 2009 the resolution concerning this unseen Golden Parachute has obtained a 53,8 % of approval (one of the lowest ever registered recorded rates, the company having in fact refused since to communicate these results to his shareholder while the low approval rate being explained by the non-voting of shareholder of the Dentsu-Badinter's pact as interested parties. This year we see no mention of the company promise in the special auditors report , and no vote: while Maurice Levy renounced because of the crisis to his € 2 700 000- earned bonus for 2009, this should have according to the reference document " no impact on the amount of the deferred severance pay”.
In our opinion the corresponding € 2 700 000 rise of the company provision had clearly to be mentioned in the auditors special report and voted on, this in conformance with the " Previous Authorized Conventions the execution of which continued " (a poetic expression of French auditors, with some 301 000 quotations on Google!).
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