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Hermes

In: Social Issues

Submitted By dmmatute
Words 861
Pages 4
Summary Points

Non- Anglo American (Not U.S. or U.K.) Markets controlling share holders also strive to maximize long-term returns to equity.

The return to a shareholder in a publicly traded firm combines current income in the form of dividends and capital gains from the appreciation of share price.

There must be a proper balance between three common operational objectives, maximization of consolidation after-tax income, minimization of the firm’s effective global tax burden and correct positioning of the firms Income cash flows and available founds as to country and currency.

The relationship among stakeholders used to determine the strategic direction and performance of an organization is termed “corporate governance”.

Hermes response via press release: October 24, 2010

-Hermes has been informed that LVMH has acquired 17% stake in the company.

-Since 1993 shareholders of Hermes decided to enlist the company on the Paris stock exchange trying to conceive two objectives:

1. Support the long-term development of the company

2. Make shares easier to trade for the shareholders

-Over last 10 years (2,000 - 2,010) Hermes family shareholders control nearly ¾ of the shares. Consisting of a limited partnership.

Autorite Des Marches Financiers (AMF) French stock market regulator

-Requires any investor gaining a 5% or grater stake in a publicly traded company to file their ownership percentage publicly showing documents of intents. (This makes Patrick Thomas very angry)

-AMF announces that they will open a formal investigation of LVMH’s acquisition of the Hermes stock. LVMH responds by confirming that the company is going to present all rules and regulations for the transactions, filling all necessary documentation. (the only penalty will be a loss of voting right for two years, a little consolation for Thomas and Hermes Family)

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