Vetoquinol: Combined Ordinary and Extraordinary General Meeting of May 26, 2020
27 Maggio 2020 - 8:00AM
Business Wire
Regulatory News:
The Combined Ordinary and Extraordinary General Meeting of
Vetoquinol (Paris:VETO) shareholders was held on Tuesday May 26,
2020 in Lure, chaired by Etienne Frechin. The shareholders did not
physically attend this meeting in view of the restrictions on
gatherings due to the health crisis in France.
All of the resolutions proposed by the Board of Directors were
adopted, including the following:
- the 2019 parent company and consolidated financial statements
were approved,
- the dividend was set at €0.38 per share. The dividend will be
made available for payment as from June 4, 2020,
- reappointment of one director. Detailed results of the voting
will be published in the “Shareholders’ Meeting” section of the
Vetoquinol website from May 27, 2020.
The situation regarding the COVID-19 pandemic was also reviewed
at the meeting.
COVID-19 pandemic, May 25, 2020 update Vetoquinol has set
up a crisis management system in order to implement the required
measures, as follows:
- Protection of Vetoquinol employees via communication and
reminders of preventive reflexes, adapted work organization
including global introduction of work-at-home arrangements for all
eligible posts, and two-week quarantine for employees who may have
been in contact with confirmed cases of contamination. These
instant measures have enabled Vetoquinol to preserve the health of
its employees and keep all laboratory and, in particular,
production operations running thanks to the commitment shown by the
entire workforce.
- Measures to protect laboratory operations and jobs in the event
of a significant decline in business. This means temporarily
adapting laboratory operation via targeted priority choices and
measures and operating cost reductions during the crisis.
- Preparations for the end of the health crisis to ensure swift
resumption of laboratory operations in order to meet market
requirements once normal demand for veterinary drugs is restored.
As such, since May 11, 2020 Vetoquinol has been making arrangements
for the resumption of work by all employees. In France, this
process has been rolled out gradually in compliance with health and
safety directives aimed at protecting employees and maintaining
social distancing. All employees are expected to be back at work by
June 2.
- Given its robust cash position, Vetoquinol has so far not
applied for a state-guaranteed loan (PGE) or requested deferral of
tax and social security payments. In view of the loss of revenue
caused by the COVID-19 crisis, Vetoquinol is receiving assistance
and compensation for partial operation in some countries including
France.
The Vetoquinol laboratory is busily preparing to integrate* the
Drontal® and Profender® product ranges in the second half of
2020.
Next update: H1 2020 sales and earnings, July 30, 2020
after market close
About Vetoquinol
Vetoquinol is a leading global animal health company that
supplies drugs and non-medicinal products for the livestock (cattle
and pigs) and pet (dogs and cats) markets.
As an independent pure player, Vetoquinol designs, develops and
sells veterinary drugs and non-medicinal products in Europe, the
Americas and the Asia Pacific region.
Since its foundation in 1933, Vetoquinol has pursued a strategy
combining innovation with geographical diversification. The Group's
hybrid growth is driven by the reinforcement of its product
portfolio coupled with acquisitions in high potential growth
markets. At December 31 2019 Vetoquinol employs 2,372 people.
Vetoquinol has been listed on Euronext Paris since 2006 (symbol:
VETO).
For further information, go to: www.vetoquinol.com.
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* Subject to approval by the competent authorities and release
of the usual pre-conditional clauses.
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VETOQUINOL Investor
Relations Fanny Toillon Tel.: +33 (0)3 84 62 59 88
relations.investisseurs@vetoquinol.com
KEIMA Communication Investor and
Media Relations Emmanuel Dovergne Tel.: +33 (0)1 56 43 44 63
emmanuel.dovergne@keima.fr
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