Ad Spending Frenzy at Lagardere - Coffers 'Emptied' to Entrench a By-Gone Era
By Wyser-pratte Management Co. Inc., PRNETuesday, April 13, 2010
SHAREHOLDERS URGED TO SUPPORT WYSER-PRATTE RESOLUTIONS A & B AT THE 2010 AGM/EGM
NEW YORK, April 14, 2010 - Franco-American Financier and Activist Guy Wyser-Pratte noted today that
Lagardere SCA (MMB.PA), having run a series of ads in major publications
around the globe on Tuesday, April 13, was once again flaunting its waste of
shareholder assets. The ads, published in French and English, were
purportedly aimed at notifying shareholders of the General and Managing
Partners' position on Mr. Wyser-Pratte's resolution to change the limited
partners with shares at Lagardere. However, Mr. Wyser-Pratte believes the
ad's true goal was to stifle healthy shareholder debate.
Mr. Wyser-Pratte stated, "Once again Lagardere is spending shareholders'
money with reckless abandon, wasting it on a series of very, very expensive
ads. Ads, which I believe are clearly intended to confuse rather than inform.
What are they afraid of and what does this say about the level of respect
accorded shareholders by the General Partners? Once again, I urge all
shareholders to voice their displeasure with this management and board by
voting for my election and the modification of the limited partnership with
shares structure."
Shareholders are urged to vote FOR Company resolutions 1-10, 12 and 14,
and FOR Wyser-Pratte resolutions A and B. Shareholders are urged to vote
AGAINST Company resolutions 11 & 13. In doing so you will vote in favor of
Mr. Wyser-Pratte's two-resolutions and all of the Company's, with the
exception of the election to the Supervisory Board of Raymond H. Levy and
Jean-Claude Magendie.
Media: Guy Wyser-Pratte of Wyser-Pratte Management Co., Inc., +1-646-735-5000; Investors: Bob Marese and Keith Parnell of MacKenzie Partners, Inc., +1-212-929-5500, +44-(0)-203-178-8060
Tags: April 14, France, New York, United Kingdom, Wyser-pratte Management Co. Inc.