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2019 Annual Report

Release Date: 4/23/2020 6:15:42 PM

IRIS Code: 20886




Bucharest, April 23, 2020


Decisions of the General Shareholders Assembly of BRD - Groupe Societe Generale

BRD’s General Ordinary and Extraordinary Shareholders Assembly took place on April 23, 2020, at BRD Tower, 1-7 Bd. Ion Mihalache, 1st district, Bucharest (1st floor, Auditorium Room). According to the convening notice, were entitled to participate and to vote the persons having the quality of shareholder on the reference date of April 14, 2020. At the assembly participated shareholders representing 82.81 % of the share capital.

The Ordinary General Shareholders Assembly approved:

-       the separate and consolidated financial statements as of December 31st, 2019, prepared according to International Financial Reporting Standards, as they were adopted by the European Union, accompanied by the Annual Board of Directors’ Report, at separate and consolidated level and by the financial auditor’s report,

-       the discharge of BRD administrators for the financial year 2019,

-       the shareholder Societe Generale proposal regarding the allocation of the 2019 profit of  LEI 1 528 523 000 to retained earnings,

-       the income and expenditure budget for 2020 and the activity program for the financial year 2020,

-       the remuneration due to the non-executive directors for the fiscal year 2020, as well as of the general limits for the directors’ additional remunerations and the officers’ remunerations,

-       the nomination of Ernst & Young Assurance Services S.R.L. as financial auditor of the bank for the financial year 2020.

Also, the Ordinary General Shareholders Assembly approved:

-       the renewal Mr. Jean – Pierre Georges VIGROUX mandate as director, for a 4-years period, starting with May 30, 2020 and

-       the election of Mrs. Valerie Marcelle Paule VILLAFRANCA as director for a 4-years period (the appointment of Mrs. Valerie Marcelle Paule VILLAFRANCA as Director is subject to the prior approval to start the fulfilment of his tasks by the National Bank of Romania, as per the legal provisions in force. The 4-years mandate starts running from the 3rd working day after receiving of the prior approval by the National Bank of Romania).

At the same time, the Ordinary General Shareholders meeting designated Mr.Jean – Pierre Georges VIGROUX  as independent director.

The Extraordinary General Shareholders Assembly had on its agenda and approved the modification of the Articles of incorporation of the bank according to the proposals in the annex to the convocation.

Also, the General Shareholders Assembly approved May 11, 2020, as ex date and respectively, May 12, 2020, as registration date.

The annual report containing the financial statements as of 2019 approved by the General Shareholders Assembly was sent to the Financial Supervisory Authority - Financial Instruments and Investments Department and to the Bucharest Stock Exchange, according to the financial communication calendar published in the beginning of this year and is available to public and investors on the website of the bank: www.brd.ro. Copies of the report can be obtained on demand and free of charge at BRD Groupe Societe Generale headquarters, situated in 1-7 Ion Mihalache Boulevard, 1st district, Bucharest.





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