WebFlorange Act’. The Act grants double-voting rights to any shares held in a registered form by the same shareholder for at least two years, provided that the company does not prohibit double-voting rights in its bylaws.3 Before the adoption of the law, French listed firms WebBackground. In early 2014 the French government brought into force ‘The Florange Act’, with its biggest impact being on the ‘one share is equal to one vote’ principle. The Act did this by creating an automatic regime …
The Capital Market Consequences of Tenure-Based Voting Rights ...
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Bolstering family control: Evidence from loyalty shares
WebApr 1, 2014 · Two years after the promise made by François Hollande to the employees of ArcelorMittal, the Law aimed at recapturing the real economy, known as the “Florange … WebFlorange Act. of 2014 provides for the automatic granting of double-voting rights to registered shares held for at least two years. ISS (2015) estimates that more than fifty percent of French companies now issue shares entitled to double voting rights. In 2014, Italy also passed a similar law enabling the creation of loyalty shares. As of March 29, 2014, companies and groups with at least 1,000 employees that intend to close down a site, now have the obligation to search for a buyer under the so-called Florange Law. It is an obligation of means, not one to divest the establishment concerned. The legislator sought to ensure that … See more The relevant employer must carry out a serious and active search, distribute as much information as possible about the potential buyers and justify its actions throughout the entire … See more The employer must consult the WC with regards to any offer deemed acceptable. The WC shall then deliver its opinion on the offer. Before the end of the information and consultation … See more Title 1 of the Law refers to an obligation to search for a buyer in the event of a contemplated closure of a site. At the end of the search for a buyer period, the company must issue … See more ttrs second hand