6 - Vicat

18 18.2.PRINCIPAl shareholdersvoting rightsThe evolution of the distribution of the share capital of the Company over the past three financial years, has beenthe following :On December 31, 2008 On December 31, 2009 On December 31, 2010ShareholdersNumber ofsharesNumber ofshares (as %)Number ofsharesNumber ofshares (as %)Number ofsharesNumber ofshares (as %)Family + Soparfi+ Parfininco 27,185,702 60.55 27,196,390 60.57 27,195,035 60.57Employees and formeremployees 2,098,624 4.67 2,163,307 4.82 2,125,964 4.73Public 14,247,695 31.73 14,456,860 32.20 14,572,137 32.46Treasury shares 1,367,979 3.05 1,083,443 2.41 1,006,864 2.24Total 44,900,000 100 44,900,000 100 44,900,000 100To the knowledge of the Company, there is no shareholder holding more than 5 % of the share capital nor of thevoting rights.The change in the distribution of the voting rights in the Company over the past three financial years, after exclusionof the voting rights attached to treasury shares, has been the following :ShareholdersOn December 31, 2008 On December 31, 2009 On December 31, 2010Number ofvoting rightsNumber ofvoting rights(as %)Number ofvoting rightsNumber ofvoting rights(as %)Number ofvoting rightsNumber ofvoting rights(as %)Family + Soparfi (1)+ Parfininco 50,730,779 73.22 50,939,794 72.96 52,173,159 73.39Employees and public (2) 18,556,764 26.78 18,877,851 27.04 18,919,480 26.61Treasury shares (3) - - - - - -Total 69,287,543 100 69,817,645 100 71,092,639 100(1)Soparfi is controlled by Parfininco, which is itself controlled by the Merceron-Vicat family.(2)As regards the monitoring of voting rights, there is no segragation between employees and the general public.(3)Shares held by the Company carry no voting rights.18.2. VOTING RIGHTSSubject to the double voting rights described below,the voting rights attached to capital shares or rightsare proportional to the share of the capital whichthey represent and each share gives a right to onevote.Double voting rights are allotted to all paid-up sharesfor which the holder can prove that it has held suchshares for at least four years.Conversion to bearer form of a share or the transferof its ownership causes the loss of the abovementioneddouble voting rights.In the event of dismemberment of the ownership ofa share, the voting right belongs to the legal owner,except for decisions concerning attribution of results,in which case the voting right remains with theusufructuary.18.3. CONTROL OF THE COMPANYThe Company is directly and indirectly, through theholding companies Parfininco and Soparfi, controlledby the Merceron-Vicat family, which holds the majorityof the share capital and the voting rights.The presence on the Board of Directors of half of theindependent directors (six independent directors fora total of ten directors) in accordance with the AFEP-MEDEF recommendations relating to company governancemeans that control can be exercised overthe Company in accordance with Commission’s (EC)regulation no. 809/2004 dated April 29th 2004.18.4. AGREEMENTS CAPABLE OF LEADINGTO A CHANGE OF CONTROLTo the knowledge of the Company, there is noagreement whose implementation could at a datesubsequent to the registration of this RegistrationDocument, lead to a change of control.120 VICAT 2010 registration document