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2016 REGISTRATION DOCUMENT
HERMÈS INTERNATIONAL
254
INFORMATION ON THE COMPANY AND ITS SHARE CAPITAL
7
INFORMATION ON SHARE CAPITAL AND SHAREHOLDERS
Furthermore, a priority right to acquire Hermès International shares,
granted by the members of the Hermès family group and descendants
of these members for the benefit of the company H51 is explained on
page 261.
Lastly, the Executive Management has a grant of authority to carry out
capital increases.
7.2.1.4
Changes in share capital over the past three
financial years
No change of capital occurred over the last three financial years
7.2.2
INFORMATION ON THE SHAREHOLDERS
7.2.2.1
Number of shareholders
At least once each year, the Company uses the Euroclear France “iden-
tifiable bearer shares” procedure (TPI,
titres au porteur identifiables
) to
identify its shareholders. During the study of 31 December 2016, there
were about 87,000 shareholders; there were approximately 90,000 as
at 31 December 2015 and about 107,000 as at 31 December 2014.
7.2.2.2
Percentage of individual shareholders
The percentage of individual shareholderswas 5.4% inDecember 2016,
comparedwith5.4% in the same period in2015. Grouping the registered
shares held as at 31 December 2016 by the individual shareholders
and the bearer shares identified by the TPI on the same date, excluding
holdings by the family groups.
7.2.2.3
Main shareholders as at 31 December 2016 –
control of the Company
Hermès International is controlled – through the intermediary of Émile
Hermès SARL, its Active Partner –by theHermès family group, which also
holds, notably
via
the intermediary of the company H51 SAS, a majority
shareholding (in capital and voting rights) within the Company in the
capacity of Limited Partner. This control is exclusive control according to
the meaning of Article L. 233-16 of the French Commercial Code (
Code
de commerce
).
The companies H51 SAS and H2 SAS are held exclusively by members
of the Hermès family group. To the Company’s knowledge, there are no
shareholders other than those shown in the tables on page 255, directly
or indirectly holding, alone or together, more than 5% of the share capital
or voting rights.
The ownership interests of Corporate Officers and Senior Executives are
listed on page 108.
Material changes in ownership of the share capital over the past three
years are described below, under “Crossing of thresholds”. To the
Company’s knowledge, the organisation of the Hermès family group has
not been significantly modified since the incorporation of the company
H51 SAS.
Significant movements occurring during the last three years
in the distribution of its share capital and voting rights,
and the reasons for these movements – Retention commitment
According to the terms of a transaction signed on 3 September 2014,
LVMH Moët Hennessy - Louis Vuitton undertook to distribute to its
shareholders all of the shares that it held in Hermès International, fol-
lowed by the distribution by Financière Jean Goujon and Christian Dior
to their own shareholders of shares thus received from LVMH Moët
Hennessy - Louis Vuitton. The share distributions were implemented at
the end of 2014and the start of 2015, with LVMHMoët Hennessy - Louis
Vuitton and Christian Dior holding only a residual balance of the Hermès
International shares, which they disposed of no later than 2 September
2015. LVMH Moët Hennessy - Louis Vuitton, Christian Dior and the
Arnault family group also gave an undertaking not to acquire Hermès
shares for a period of five years.
Changes occurring after closure of the financial year
To the Company’s knowledge, there has been no significant change with
regards to Hermès International shareholders between 31 December
2016 and the date on which this registration document was filed with
the AMF.
Measures taken to prevent abusive control
Refer to chapter 3 “Corporate Governance”, page 90, and to the para-
graph “Management of conflicts of interest”, page 115.