General Meetings of Eurotunnel P.L.C. and Eurotunnel SA

The General Meetings of Eurotunnel P.L.C. and Eurotunnel SA, subsidiaries of Groupe Eurotunnel SA since the success of the Exchange Tender Offer, have today:

  • Approved the 2005 and 2006 accounts
  • Adopted the change of name of the Eurotunnel P.L.C. and Eurotunnel SA to TNU PLC and TNU SA respectively
  • Been informed of the de-listing in London of EPLC and ESA Units with effect from 30 July 2007

The combined Ordinary and Extraordinary General Meeting of Eurotunnel SA and the Annual General Meeting of Eurotunnel P.L.C., which were held in Coquelles, France, on 27 July 2007, brought together 2,516 shareholders, representing 93.15% of the capital, of whom 40 were present for the meeting.

The resolutions presented by the Board were all approved by a majority of 99.9%*.

 

The ordinary general meeting of Eurotunnel SA approved the annual accounts, the combined accounts and the results for the 2005 and 2006 financial years, ratified the appointment as directors of Colette Neuville and Pierre Bilger and re-appointed as directors Jacques Gounon, Colette Neuville, the Association de Défense des Actionnaires Eurotunnel (ADACTE), Pierre Bilger, Robert Rochefort and Henri Rouanet, for a term of three years.

The annual general meeting of Eurotunnel P.L.C. received the 2005 and 2006 reports and accounts, approved the Directors’ remuneration report and re-elected as directors, Colette Neuville, Tim Yeo, Jacques Gounon and Robert Rochefort.

The extraordinary general meeting of Eurotunnel SA and the annual general meeting of Eurotunnel P.L.C. adopted the name changes for Eurotunnel PLC and Eurotunnel SA which will now be called TNU PLC and TNU SA respectively to avoid any confusion with the new parent company Groupe Eurotunnel SA, of which they have become subsidiaries**.

The extraordinary general meeting of Eurotunnel SA also decided that the number of Directors aged over 75 could not be greater than one third of the Directors at any given time. The company’s constitutional documents have been modified accordingly.

Delisting of Eurotunnel Units in London

Following Eurotunnel’s application to cancel the listing of the Units and their admission to trading on the London Stock Exchange, notice of which was duly given to shareholders, the UK Listing Authority has confirmed that delisting will be effective on 30 July 2007.

Jacques Gounon, Chairman and Chief Executive of Groupe Eurotunnel SA, declared,

“The accounts for 2005 and 2006 which have just been approved by the AGMs of TNU PLC (ex Eurotunnel P.L.C.) and TNU SA (ex Eurotunnel SA) reflect the past debt and show a heavy deficit. The recapitalisation of these companies will lead to an almost total dilution of the shareholders who did not tender their shares to the ETO: from now on, the future of Eurotunnel is with Groupe Eurotunnel SA”.

 

 

*Detailed results of the vote relating to each resolution are available on the company’s website www.eurotunnel.com

**Please note that, following the recent Exchange Tender Offer for Eurotunnel Units, Groupe Eurotunnel SA is now the principal shareholder in these companies, holding over 93% of the capital.

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