BPCE:
La loss abs e' quasi inesistente, i coupon sono obbligatori solo se pagano dividendi ma francamente a meno che non siano nella m*** non me li vedo a fare porcate..
Ciao,
ti sembra che da prospetto il pagamento delle cedole sia piu' incerto rispetto alle italiane? a me sembravano piuttosto simili
Ci sarebbe da studiare lo statuto (che non trovo
![Frown :( :(](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
) per capire che impatto possano avere queste :
7.2.8 Category C shares
DEFINITION
C shares are preferred shares issued by the company and owned by the
French government through SPPE (Société de Prise de Participation de
l’État), a French company established to recapitalize credit institutions.
The C share issue matures fi ve years from the issue date (July 31, 2009).
C shares make up 19.8% of the company’s share capital.
C shares are recognized as basic shareholders’ equity, which is eligible as
Core Tier-1 capital with no upper limit, in accordance with the French
Banking Commission’s General Secretariat.
PREFERRED SHARE RIGHTS
The rights of category C shareholders are set forth in Articles L. 228-11 et
seq. of the French Commercial Code and in the company’s bylaws.
In addition to the specifi c rights described below, category C shareholders
have the same rights as ordinary shareholders (including the same rights to
information), with the exception of:
• the right to vote during the company’s General Shareholders’ Meetings;
• preemptive rights during share issues; during share issues, category C
shareholders will have the right to buy the number of C shares that will
maintain their existing stake in the company; and
• the right to the dividend payable to ordinary shareholders; category C
shareholders will receive a preferred dividend as explained below.
PREFERRED DIVIDEND PAYMENT CONDITIONS
C shares have no voting rights at General Shareholders’ Meetings. However
they are entitled to a non-cumulative preferred dividend, whose amount
is determined in accordance with the company’s bylaws. C shares may
receive a preferred dividend only if there are suffi cient distributable funds
(as defi ned by Article L. 232-11 of the French Commercial Code) to pay the
full preferred dividend as well as an ordinary divided equal to at least one
eurocent per ordinary share. All dividend payments must be approved by the
Ordinary General Shareholders’ Meeting, and will take place only if there
are no prudential events (as defi ned in the company’s bylaws) in effect on
the date of the Ordinary General Shareholders’ Meeting.
The preferred dividend will be paid on the ordinary dividend payment date
set by the General Shareholders’ Meeting for the 2009 dividend.