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2011 Annual Report

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2011 Annual Report 20 11 Annualreport havas.com Contents Thedocumentderéférence (hereafter“annualreport”)containstheannualfinancialreport comprisingthestatutoryaccountsandconsolidatedfinancialstatements,thereportsofthe auditorspertainingthereto,thedirectors’reportontheCompanyandthestatementbythe personresponsiblefortheannualreport. Defi nitions 1. Personsresponsible .......................................................5 7. Organizationchart...................................................... 15 1.1. Personresponsiblefortheannualreport 7.1. Organizationchart 1.2. Declarationbythepersonresponsibleforthe 7.2. Listofkeysubsidiaries annualreport 7.3. Realestate 2. Auditors......................................................................... 5 8. Informationonenvironmentalimpacts,human resourcesandsocietyissues:theGroup’s CorporateSocialResponsibilitypolicy .......................17 3. Selectedfinancialinformation ..................................... 5 8.1. Environment 8.1.1. Environmentalpolicy:reducingtheenvironmental 4. Riskfactors.....................................................................6 impactofouractivity 4.1. Risksrelatingtotheadvertisingindustrysector 8.1.2. Environmentalpolicy:reducingtheenvironmental impactofourcommunicationcampaigns 4.2. Litigations 8.1.3. Environmentalinformation 4.3. Financialrisks 8.2. Societyissues 4.4. Coverageofrisk–Insurance 8.2.1. Promotingtransparencyandethicsinour businesses 8.2.2. Promotingacommunicationmodelmore 5. Informationconcerningtheissuer...............................8 conducivetosustainabledevelopment 5.1. HistoryanddevelopmentoftheCompany 8.3. Humanresources 5.1.1. Companyname 8.3.1. Headcountstructure 5.1.2. Registration 8.3.2. Humanresourcespolicy 5.1.3. Dateoffoundationandduration 8.3.3. Humanresourcesindicators 5.1.4. Registeredofficeandcontactinformation 5.1.5. MilestonesinthedevelopmentoftheCompany’s businesses 9. Reviewoffinancialpositionandresults 5.2. Investments ofoperations ............................................................... 28 6. Overviewofbusinesses ..............................................10 10. Liquidityandcapitalresources...................................30 6.1. Principalbusinesses 6.1.1. Typeofbusiness 11. Researchanddevelopment,patentsandlicenses .... 33 6.1.2. Marketandtrends 6.1.3. Strategy 6.1.4. Newactivities 12. Trends ...........................................................................33 6.2. Operationalorganization 6.2.1. Principalmarkets 13. Profitforecastsorestimates .......................................33 6.2.2. HavasWorldwide 6.2.3. HavasMedia 6.3. Exceptionalevents 14. Administrativebodiesandseniormanagement .......33 6.4. DependenceoftheCompanyonpatentsor 14.1.Informationonadministrativebodiesandsenior licenses,industrial,commercialorfi nancing management contractsornewmanufacturingprocesses 14.1.1. MembersoftheBoardofDirectors 6.5. BasisforalloftheCompany’srepresentations 14.1.2. SummarybiographiesofmembersoftheBoardof regardingitscompetitiveposition Directors 14.1.3. Convictionsforfraud,bankruptcy,publicsanctions pronouncedoverthelastfiveyears 14.1.4. Familyrelationships 14.1.5. ExecutiveCommittee 2011Annualreport1 Contents 14.2.Confl ictsofinterest 18. Majorshareholders.....................................................45 14.2.1. Conflictsofinterestbetweendirectors’duties 18.1.Nameofnondirector,nonexecutive totheCompanyandtheirprivateinterestsor shareholdersholdingapercentageofshare declarationoflackthereof capitalrequiringdisclosurepursuanttoFrench 14.2.2. Arrangementsorcovenantswithleading law shareholdersgoverningtheappointmentofthe 18.2.Votingrights Company’sseniormanagementandexecutives 14.2.3. Restrictionsconcerningthedisposalbysenior 18.3.Breakdownofsharecapitalandtreasurystock managementoftheirequityinterestsinthe 18.4.Agreementthatcanleadtoachangeofcontrol Company’scapital 19.Relatedpartytransactions ..........................................47 15. Compensationandbenefits ofCompanyexecutives ...............................................37 15.1.Structureofshorttermcompensationpackages 20. Financialinformationrelatingtotheassets, financialsituationandresultsoftheissuer ..............47 15.2.Longtermloyaltyandincentiveprograms 20.1.Informationincorporatedbyreference 15.3.Directors’fees 20.2.Proformafi nancialinformation 15.4.Compensationdata 20.3.Consolidatedfi nancialstatementsfortheyear 15.5.PensioncommitmentstoCompanyexecutives endedDecember31,2011 15.6.Specialprovisions 20.4.StatutoryAuditors’reportontheconsolidated 15.7.Summarytables fi nancialstatements 20.5.Statutoryaccountsfortheyearended December31,2011 16. Boardandmanagementprocedures ..........................41 20.6.StatutoryAuditors’reportonthestatutory 16.1.ProceduresoftheBoardofDirectors accounts 16.1.1. Directors’termsofoffice 20.7.Financialdataoverthelastfi veyears 16.1.2. Independentdirectors 16.1.3. BoardofDirectors 20.8.Directors’reportontheHavasSAfi nancial statementsfortheyearendedDecember31, 16.1.4. Internalcontrols 2011 16.2.Servicecontractsbetweenmembersofthe governingbodiesandtheCompanyorits 20.9. Materialchangeinthecommercial subsidiariesandwhichprovidebenefi ts orfi nancialpositionofHavas 16.3.InformationontheBoardCommittees 16.3.1. AuditCommittee 16.3.2. CompensationCommittee 16.3.3. CorporateGovernanceCommittee 16.4.Corporategovernance 17. Shareholdingsandstockoptions ...............................44 17.1.Shareholdingsandstockoptionsofdirectors andexecutiveoffi cers 17.2.StocktradingbyHavasexecutiveoffi cers 17.3.Employeeshareholdingplans 17.4.Sharesubscriptionandpurchaseoptions (articleL.225-184 of the French Commercial Code) 17.5.Callablesubscriptionand/oracquisitionwarrants (BSAARs) 17.6.Performancerelatedstockoptionsgrantedto corporateoffi cersornowvested 2 2011Annualreport Contents 21. Additionalinformation .............................................118 25. Recentevents............................................................ 125 21.1.SharecapitaloftheCompany 25.1.2011Results–PressReleaseofMarch1st2012 21.1.1. Totalsharecapitalsubscribed 25.1.1 Revenue 21.1.2. Nonequitysecurities 25.1.2. Results 21.1.3. Number,carryingamountandnominalvalueof 25.1.3. FinancialStructure sharesheldbytheCompany,initsnameorbyits 25.1.4. DividendandShareholders’Meeting subsidiaries 25.1.5. NetNewBusiness(1) 21.1.4. Amountofconvertibleorexchangeablesecurities 25.1.6. Highlightsof2011 orsecuritieswithwarrants,withanindication 25.2. Filingofadraftsharerepurchasetender oftheconditionsandproceduresgoverning offerforitsownshares(“OPRA”)andadraft conversion,exchangeorsubscription simplifi edoffer(“OPAS”) 21.1.5. Informationaboutandtermsofanyacquisition PressReleaseofMarch23,2012 and/orobligationrightattached toauthorizedbutunissuedcapitalorany 25.2.1. Sharerepurchasetenderoffer undertakingtoincreasethecapital 25.2.2. Simplifiedoffer 21.1.6. Informationpertainingtosharesubscriptionor purchaseoptions 21.1.7. Historyofthesharecapitalfortheperiodcovered 26. Informationonthemanagement’sreporttothe bythehistoricalfinancialinformation,highlighting Companyandcorrespondencetablebetween anychanges themanagement’sreportandtheHavasAnnual 21.1.8. AgreementsenteredintobytheCompanythatare report ......................................................................... 131 subjecttomodificationorterminationintheevent ofachangeofcontrol 21.2.Memorandumandbylaws 27. Tableofcorrespondencewiththeheadings ofAnnexItoCommissionregulation(EC) 21.2.1. Corporatepurpose(article2ofthebylaws) No.809/2004 ..............................................................133 21.2.2. SummaryofprovisionsoftheCompany’sbylaws, charterorrulesrelatingtomembersofthe administrativeandmanagementbodies LISTOFAPPENDICES 21.2.3. Rights,preferencesandrestrictionsapplicable 1. ReportoftheChairmanoftheBoardofDirectors 136 toshares 21.2.4. Actionsrequiredtochangeshareholders’rights 2. StatutoryAuditors’report 143 21.2.5. ConveningofShareholders’Meetingsand 3. Summaryoftheresolutions 144 conditionsforadmission 4. Textoftheresolutions 146 5. StatutoryAuditors’specialreportonregulated ATTENDANCEATSHAREHOLDERS’MEETINGS agreementsandcommitmentswithrelatedparties 151 21.2.6. Bylaw,charterorrulesthatmaydelay,deferor 6. Authorizationsregardingsharecapitalincreases 152 preventachangeofcontrol 7. Informationpublishedormadepublicduringthe 21.2.7. Provisionsofbylaws,charterorrulesgoverning lasttwelvemonths 153 thethresholdabovewhichshareholderownership mustbedivulged 8. Othercorporatepositionsheldbycompanyoffi cers 155 21.2.8. Conditionsofbylaws,charterorrulesthatare morestringentthanrequiredbythelawon changesinsharecapital 22. Materialagreements .................................................124 23. Thirdpartyinformation,statementsbyexperts anddeclarationsofinterest ..................................... 124 24. Documentsondisplay ...............................................124 2011Annualreport3 4 2011Annualreport Selectedfi nancialinformation 3. Defi nitions The report of the Statutory Auditors on the consolidated financial statements for the financial period ended December 31, 2009 contains nocomments.” Inthecontextofthisdocumentderéférence (hereafterannualreport), unless otherwise indicated, the term “Company” shall refer to HavasSA HervéPhilippe andtheterms“Havas”and“theGroup”shallrefertoHavasSAandits DirecteurGénéralDélégué consolidatedsubsidiaries. onMarch,30,2012 1. Personsresponsible 2. Auditors 1.1. Personresponsiblefortheannualreport StatutoryAuditors Mr.HervéPhilippe,DirecteurGénéralDélégué. FromMay29,2008 −CONSTANTINASSOCIÉS 1.2. Declarationbythepersonresponsible MemberofDeloitteToucheTohmatsu fortheannualreport 185,avenueCharlesdeGaulle–92524NeuillysurSeine
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