JCDecaux SA: proposal for conversion to a European Company

JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company worldwide, has announced the decision of the Executive Board, with the approval of the Supervisory Board, to submit a proposal to its shareholders for its conversion to a European Company (Societas Europaea, SE), at the next Annual General Shareholders Meeting, to be held on May 14th, 2020.

Used by a growing number of companies across Europe, SE is a legal status recognised in all EU countries. This change of status would reflect the Group’s international reach, particularly in Europe, where it is present in 23 of the 27 EU countries and the world leader in outdoor advertising.

The plan would have no impact on the governance or activities of JCDecaux SA, nor would it impact the stock market where JCDecaux is listed, but would align the Group’s legal organisation with its economic and social situation. With almost 52% of its workforce based in Europe, the Group is deploying significant shared resources across the continent (particularly in France, Germany, Spain), in order to support its R&D policy, data and programming strategy and supply chain during its digital transformation.

Converting to a European Company would change the company’s legal status but would not impact the existing rights of shareholders and stakeholders or affect the location of the company’s head office in France. The procedures applicable to social dialogue within JCDecaux SE will be discussed with social partners over the coming weeks.

The conversion plan will be submitted during the Annual General Meeting of Shareholders of JCDecaux SA, scheduled for May 14th, 2020.