Maisons du Monde: Gabriel Naouri will join the Board of Directors


PARIS (Agefi-Dow Jones)–Maisons du Monde and one of its largest shareholders, Majorelle Investissements, signed an agreement on Tuesday covering a period of 24 months which provides in particular for the appointment of Gabriel Naouri to the board of directors of the distributor of furniture and decorative items, said Thursday the Financial Markets Authority (AMF).

“The Board of Directors, after consulting the Appointments and Remuneration Committee, will recommend to the general meeting of shareholders of Maisons du Monde approving the financial statements for the year ended December 31, 2021, no later than May 11, 2022, the appointment of a representative designated by Majorelle (Mr. Gabriel Naouri) to the board of directors”, indicates the AMF in its opinion.

Son of Casino’s main shareholder Jean-Charles Naouri, Gabriel Naouri controls Majorelle Investissements alongside Apollo Global Management. As of April 19, 2022, Majorelle held 20.34% of the capital and voting rights of Maisons du Monde.

“In the event that Majorelle’s participation falls below 10% of the capital of Maisons du Monde, the Majorelle representative will have to resign from his mandate as director”, provides for the contract signed between the two parties quoted by the AMF. Majorelle has undertaken not to hold, directly or indirectly, alone or in concert, more than 29.9% of the capital or voting rights of specialized distributors.

Majorelle will not have the right, throughout the duration of the agreement, on its own behalf and on behalf of its affiliates, to file, directly or indirectly, alone or in concert, a public takeover bid for the securities of Maisons du Monde not recommended by the Board of Directors. The company could however announce a competing offer to a takeover bid filed by a third party, declared compliant by the AMF.

Majorelle has also undertaken to vote in favor of the appointment of any candidate for the position of member of the board of directors previously recommended by the board at the next general meeting and not to file or announce, directly or indirectly, alone or in concert, a draft resolution that is not recommended by the board.

Around 1:00 p.m. Wednesday, the Maisons du Monde share fell 0.3%, to 16.42 euros.

-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: ECH

Agefi-Dow Jones The financial newswire

Dow Jones Newswires

May 05, 2022 07:04 ET (11:04 GMT)




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