REGISTRATION DOCUMENT AND FINANCIAL REPORT - Iliad

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21. ADDITIONAL INFORMATION 21.1 SHARE CAPITAL However, cash dividends must be distributed no later than nine months following the close of the fiscal year unless an extension is authorized by court of law. The Shareholders’ Meeting may, under the conditions determined by law, offer each shareholder the option of receiving all or part of the final dividend or any interim dividend in the form of new shares of the Company. 21.3 DIVIDENDS 21.3.1 Dividends distributed in the past five fiscal years During the past five fiscal years, the Company distributed dividends for fiscal years 2002, 2003, 2004, 2005 and 2006. The Shareholders’ Meeting of May 6, 2003 resolved to distribute a total dividend of €4,286,181 (€0.90 per share), representing approximately 16.45% of profit for 2002. The Shareholders’ Meeting of May 28, 2004 resolved to pay a total dividend of €5,345,223 (€0.10 per share), representing approximately 92.35% of profit for 2003. The Board of Directors’ meeting of December 6, 2004 approved the distribution of an interim dividend corresponding to €4,008,917 (€0.075 per share), representing approximately 41.45% of profit for the first three quarters of fiscal 2004. The Shareholders’ Meeting of May 27, 2005 resolved to distribute a total dividend of €6,174,979.25 (€0.115 per share) for each of the shares making up the Company’s share capital at that date, and carrying rights to the 2005 dividend. This dividend was settled by way of a €4,008,917.25 interim dividend distributed on December 6, 2004, with the balance of €2,166,062 distributed on June 8, 2005. The Shareholders’ Meeting of May 29, 2006 resolved to distribute a total dividend of €10,830,310 (€0.20 per share). The Shareholders’ Meeting of May 29, 2007 resolved to distribute a total dividend of €14,620,918.50 (€0.27 per share). 21.3.2 Dividend distribution policy The Board of Directors determines the dividend payment policy based on a review of the Company’s earnings and financial position and other factors. At the Shareholders’ Meeting to be held on May 29, 2008, the Board will recommend the payment of a €0.31 dividend per share. The Company expects its dividend distribution policy to be consistent with its expansion strategy in 2008. This does not, however, represent any commitment on the Company’s part, which may decide to reduce its dividend distribution, or not make any dividend payment, depending on its financial results, capital expenditure requirements, and level of debt. 21.3.3 Statute of limitations for dividends Dividends that have not been claimed within five years are time-barred and are remitted to the French State. 21.4 THE MARKET FOR ILIAD SHARES Iliad’s shares have been traded on Eurolist by Euronext (segment A) since January 30, 2004. 21.4.1 General information Number of shares listed at February 27, 2008 ............................... 54,151,550 Closing price at February 27, 2008 ......................................... €64.13 52-week high .............................................................. €82.01 52-week low ............................................................... €57.02 Market capitalization at February 27, 2008 (in € millions) .................. 3,473 Average 6-month daily trading volume ..................................... 159,659 ISIN code .................................................................. FR0004035913 Stock exchange indices ..................................................... SBF 120, Next 150 and SBF 250 200 - Iliad – Registration Document 2007
21.4.2 Changes in the Iliad share price since January 1, 2007 21. ADDITIONAL INFORMATION 21.1 SHARE CAPITAL Price per share (in €) 48 Low High 2007 January ..................................................................................... 66.40 75.50 February .................................................................................... 75.40 85.00 March ...................................................................................... 70.25 81.00 April ........................................................................................ 74.25 80.69 May ........................................................................................ 73.55 79.45 June ........................................................................................ 71.35 77.49 July ......................................................................................... 67.10 75.02 August ...................................................................................... 64.45 73.90 September ................................................................................... 63.10 72.66 October ..................................................................................... 64.19 73.11 November ................................................................................... 61.90 70.00 December ................................................................................... 2008 67.51 73.45 January ..................................................................................... 57.02 72.25 21.4.3 Transfer Agent Securities services (management of the Company’s share register) and financial services (dividend payments) are provided for Iliad by Société Générale (SBAN/BCT/CLE, 32 Rue du Champ de Tir, BP 81236, 44312 Nantes Cedex 3). 21.5 LIQUIDITY CONTRACT The liquidity contract entered into with Oddo & Cie and Oddo Corporate Finance remained in effect until June 2007. On June 12, 2007, Iliad entered into a liquidity contract with Exane – BNP Paribas, in accordance with the applicable law and regulations, notably European Commission Regulation no. 2273/2003 dated December 22, 2003 implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buy-back programs and stabilization of financial instruments, as well as Articles L.225-209 et seq. of the French Commercial Code, the General Regulations of the AMF and the decision issued by the AMF on March 22, 2005. This contract also complies with the French Association of Investment Firms’ code of ethics approved by the AMF in a decision issued on March 22, 2005 and published in the French legal announcements journal (Bulletin des Annonces Légales Obligatoires) on April 1, 2005. The following transactions were carried out in connection with the liquidity contracts in 2007: Number of shares Purchases Sales Unweighted average price Amount Number of shares Unweighted average price Amount (in € ) (in € ) (in € ) (in € ) 2007 January ........................... 150,107 71.34 10,707,979.00 159,817 71.45 11,419,717.70 February .......................... 154,963 80.22 12,431,005.71 131,117 80.38 10,539,145.31 March ............................ 153,722 76.48 11,756,844.31 171,875 76.94 13,224,476.80 April ............................. 166,356 76.73 12,763,941.10 155,539 76.95 11,967,996.87 May .............................. 138,617 76.06 10,543,203.04 128,691 76.15 9,799,511.42 June .............................. 87,810 74.58 6,548,545.45 78,998 74.65 5,897,096.93 July .............................. 49,355 72.36 3,571,117.77 41,820 72.14 3,016,783.05 August ............................ 31,863 67.57 2,152,977.39 36,881 67.97 2,506,715.96 September ......................... 50,385 66.98 3,375,007.01 45,797 66.58 3,048,921.93 October ........................... 48,445 70.64 3,422,267.25 64,318 71.02 4,567,821.49 November ......................... 59,753 67.52 4,034,236.79 53,623 67.49 3,618,877.74 December ......................... 26,983 71.52 1,929,843.98 36,374 71.58 2,603,508.76 Total ............................. 1,118,359 74.43 83,236,968.80 1,104,850 74.41 82,210,573.96 48 Price per share corresponding to the highest and lowest price on a trading day Iliad – Registration Document 2007 - 201
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Société anonyme. Share capital:
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TABLE OF CONTENTS GENERAL COMMENTS
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16.2 SERVICE CONTRACTS ENTERED INTO
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1. PERSONS RESPONSIBLE 1.1 PERSON R
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3. SELECTED FINANCIAL INFORMATION 3
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4. RISK FACTORS 4.1 RISKS RELATING
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4. RISK FACTORS 4.3 FINANCIAL RISKS
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4.4 LEGAL RISKS 4.4.1 Risks relatin
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4. RISK FACTORS 4.4 LEGAL RISKS The
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5. INFORMATION ABOUT THE COMPANY AN
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2007 • Sale of Kertel (February 2
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Considering acquisition opportuniti
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The Group’s network has been deve
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Réseau International CTI (Centre d
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6. OVERVIEW OF THE GROUP’S BUSINE
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The following tables give details o
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6.2 PRINCIPAL MARKETS 6.2.1 Interne
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Local loop unbundling 6. OVERVIEW O
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6.6.2 Regulation of the content of
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7.2 ORGANIZATION CHART At March 31,
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9.1 KEY CONSOLIDATED FINANCIAL DATA
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9. OPERATING AND FINANCIAL REVIEW 9
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9.1.2 ADDITIONAL INFORMATION 9.1.2.
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11. RESEARCH AND DEVELOPMENT, PATEN
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13. PROFIT FORECASTS OR ESTIMATES T
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14. ADMINISTRATIVE, MANAGEMENT AND
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15. COMPENSATION AND BENEFITS 15.2
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16. FUNCTIONING OF THE COMPANY’S
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17.1 HUMAN RESOURCES 17. EMPLOYEES
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18.1 IDENTIFICATION OF SHAREHOLDERS
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19. RELATED PARTY TRANSACTIONS 19.
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20. FINANCIAL INFORMATION CONCERNIN
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