VILMORIN & CIE

JOINT ANNUAL GENERAL MEETING 2020 - Seite 3

Finally, Vilmorin & Cie is aiming for a contribution from associated companies – mainly AgReliant (North America. Field Seeds), Seed Co (Africa. Field Seeds) and AGT (Australia. Field Seeds) of about 22 million euros.

It should be noted that at the end of the first quarter for fiscal year 2020-2021², Vilmorin & Cie posted sales of 234.4 million euros, a sustained increase representing +6.7% on a like-for-like basis. On the basis of the information available to date, these trends were confirmed over the beginning of the second quarter 2020-2021.

The objectives set for 2020-2021 should enable Vilmorin & Cie to continue the growth of its activities, while continuing to deliver solid financial performances, in a resolutely buoyant seeds market, whose strategic nature has been reaffirmed by the health crisis. As the first link in the food chain, seeds will ensure tomorrow's food security.

APPROVAL OF THE RESOLUTIONS

All the resolutions submitted to the vote of the Shareholders were approved, with the exception of the twenty-third resolution, which proposed delegation to the Board of Directors to proceed with an increase in capital stock reserved for employees. The Board of Directors made no voting recommendation on this resolution, as the employees already benefit from other forms of profit-sharing in the results.

 

Appointment of Séverine DARSONVILLE as Member of the Board

The Annual General Meeting appointed Ms. Séverine DARSONVILLE as Member of the Board, for a period of three years³, to replace Ms. Mary DUPONT-MADINIER whose term of office, which expired at the end of the Annual General Meeting, was not proposed for renewal in compliance with the by-laws concerning the age limit of Members of the Board.

A farmer, Séverine DARSONVILLE has been a Member of the Board of Limagrain since 2012; she has held several mandates within the Group's different activities. Since June 2019, she has also been Chairwoman of Vegepolys Valley, the global competitiveness cluster for plants.
She also represents the Group on the Board of Directors of Vetagro Sup, an educational and research institute for veterinary doctors, agronomic engineers and health inspectors. Finally, she represents the Agricultural Cooperation on the Executive Committee of the High Council for Agricultural Cooperation (HCCA).

Appointment of Benoist DE SAINT LAGER, representing Bpifrance Participations, as Member of the Board

The Annual General Meeting appointed Mr. Benoist DE SAINT LAGER, representing Bpifrance Participations, as Member of the Board, for a period of three years, i.e. until the end of the Annual General Meeting of Shareholders called to approve the financial statements for the fiscal year ending June 30, 2023.