REGISTRATION DOCUMENT AND FINANCIAL REPORT - Iliad

18. MAJOR SHAREHOLDERS
18.2 VOTING RIGHTS OF SHAREHOLDERS
18.2 VOTING RIGHTS OF SHAREHOLDERS
At Ordinary and Extraordinary Shareholders’ Meetings, each shareholder has a number of votes equal to the
number of shares held, without limitation.
However, the Extraordinary Shareholders’ Meeting held on December 12, 2003 decided to attribute double
voting rights to all fully paid shares registered in the name of the same shareholder for at least three years as from
the listing of the Company’s shares on a regulated market (January 30, 2004).
The Company’s major shareholders held the following shares carrying double voting rights at December 31,
2007.
Major shareholders with double voting rights
Number of shares carrying
double voting rights
Xavier Niel ............................................................................ 500,000
Antoine Levavasseur ................................................................... 902,590
Rani Assaf ............................................................................. 952,590
Olivier Rosenfeld ...................................................................... 430,000
Cyril Poidatz ........................................................................... 0
Franck Brunel .......................................................................... 473,269
In addition, in the event of a capital increase by the capitalization of reserves, profits or premiums, or when
shares are exchanged as part of a stock split or reverse stock split, the new registered shares allocated to a
shareholder in respect of existing shares carrying double voting rights will also have double voting rights from
the date of issue, provided that they are held as registered shares.
Any share converted into bearer form or whose ownership is transferred is stripped of double voting rights, in
accordance with Article 28-1 of the Company’s bylaws. However, registered shares are not stripped of voting
rights and the qualifying period continues to run following the transfer of shares included in the estate of a
deceased shareholder, or in connection with the settlement of the marital estate or an inter vivos gift to a spouse
or relative in the direct line of succession. Any merger or demerger of the Company would have no impact on
double voting rights which can be exercised within the new company if the latter’s bylaws include such a
provision. Double voting rights may only be abolished by an Extraordinary Shareholders’ Meeting after prior
approval by a special meeting of the shareholders holding those rights.
18.3 SHAREHOLDERS’ AGREEMENTS, LOCK-UP UNDERTAKINGS AND PARTIES ACTING IN CONCERT
18.3.1 Shareholders’ agreements
Not applicable.
18.3.2 Lock-up undertakings
Not applicable.
18.3.3 Parties acting in concert
To the best of the Company’s knowledge, there are no shareholders acting in concert, other than the Company’s
senior managers who are also shareholders – corresponding to Xavier Niel, Rani Assaf, Franck Brunel, Antoine
Levavasseur, Cyril Poidatz, Olivier Rosenfeld and Alain Weill – who act jointly in their capacity as senior
managers of the Company.
18.4 ARRANGEMENTS WHICH MAY RESULT IN A CHANGE IN CONTROL OF THE COMPANY
Not applicable.
104 - Iliad – Registration Document 2007