Earnings Release • May 11, 2011
Earnings Release
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Paris, May 11th, 2011
PRESS RELEASE
Combined General Meeting of May 11th, 2011
ERAMET's shareholders, at their Combined General Meeting on May 11th, 2011 in Paris, chaired by Mr Patrick BUFFET, Chairman and Chief Executive Officer of ERAMET, passed all the draft resolutions approved by the Board of Directors.
The results of the votes for each resolution are available on ERAMET's website (www.eramet.com).
The General Meeting approved the proposed dividend with respect to 2010, i.e. €3.50 per share, paid in cash. This significantly higher dividend (+94%) reflects the good results for 2010 and shareholders' confidence in the Group's prospects.
The ex-dividend date will be May 13th, 2011 and payout will be from May 18th, 2011.
Following the General Meeting, the Board of Directors is composed as follows:
Mr Patrick BUFFET Mr Edouard DUVAL Mr Georges DUVAL Mr Gilbert LEHMANN Mrs Manoelle LEPOUTRE (independent director) Mr Jean-Hervé LORENZI (independent director) Mr Louis MAPOU Mr Michel QUINTARD Mr Michel SOMNOLET (independent director) Mr Frédéric TONA (independent director) Mr Antoine TREUILLE (independent director) AREVA, represented by Mr Sébastien de MONTESSUS CEIR, represented by Mr Patrick DUVAL SORAME, represented by Mr Cyrille DUVAL Mrs Astrid MILSAN
Mrs Astrid MILSAN, represents the French State in accordance with article 139 of law 2001-420 of May 15th, 2001 on new economic regulations. The French State had asked AREVA to propose at the Shareholders' General Meeting, the appointment of a director representing the State to ERAMET's Board of Directors out of the quota of five AREVA directors determined by the provisions of the shareholders' agreement in force between AREVA and SORAME-CEIR. The General Meeting voted in favour of this appointment on the Board of Directors' recommendation.
• At the Board of Directors meeting that followed the Shareholders' General Meeting, Mr Patrick BUFFET was unanimously renewed in his duties as Chairman & Chief Executive Officer of ERAMET. Furthermore, Mr Edouard DUVAL and Mr Gilbert LEHMANN were appointed Vice-Chairmen of the Board of Directors.
On the occasion of the renewal of his term of office, Mr Patrick BUFFET, Chairman and Chief Executive Officer, stated:
"The good results achieved in 2010 showed the ERAMET Group's resilience and ability to bounce back, as well as the relevance of its business model and targeted positioning. The Group's markets will continue to grow over the medium and long terms, driven in particular by emerging countries, foremost among which China.
Thanks to its world-class technological skills throughout the value chain, ERAMET is an essential mining and metallurgical partner for the sustainable development of new industrial activities.
The Group's long-term project, which closely involves its local partners, particularly in Gabon and New Caledonia, will lead to dynamic growth and greater diversification into new, high-potential metals and new geographic zones."
ERAMET is a leading global producer of:
alloying metals, particularly manganese and nickel, used to improve the properties of steel,
high-performance special steels and alloys used in industries such as aerospace, power generation and tooling.
ERAMET is also studying or developing major projects in new metals with high growth potential such as lithium, niobium and rare earths, as well as in recycling.
The Group employs approximately 14,000 people in 20 countries. ERAMET is part of Euronext Paris Compartment A and is listed on the MSCI index.
Vice President Strategy and Investor Relations Philippe Joly Tel.: +33 (0)1 4538 4202 For more information: www.eramet.com
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