MRM - 2018 Registration document
First page
Table of contents
Next page
Last page
Contents
3
1. INFORMATION ON M.R.M.’S ACTIVITIES
5
1.1 General presentation of the Company
5
1.2 Key fi gures
5
1.2.1 The Group’s asset profi le
5
1.2.2 Financial data
8
1.3 Company history
12
1.4 Presentation of the Company
14
1.4.1 General presentation of the activity
14
1.4.2 The real estate market in 2018 and the retail segment
15
1.4.3 The Group’s analysis of market trends
21
1.4.4 M.R.M.’s asset portfolio as of 31 December 2018
22
1.4.5 Subsequent events and ongoing projects
25
1.4.6 Main investments carried out by the Company in the last three years
26
1.4.7 Strategy and outlook
26
1.5 Group ownership structure
27
1.6 Group organisation
28
1.7 Human resources
29
1.8 Research and development
29
1.9 Environmental policy
29
1.10 Signifi cant changes in the fi nancial or commercial position
29
2. RISK FACTORS
31
2.1 Legal risks
31
2.2 Risks related to the business environment
32
2.3 Market risks – Financial risks
37
2.4 Insurance
38
GENERAL INFORMATION ON THE ISSUER AND ITS CAPITAL
39
3.1 General information
39
3.1.1 Company name
39
3.1.2 Company registration place and number
39
3.1.3 Registered offi ce, legal status and laws governing the Company’s business
39
3.1.4 Consultation of legal documents
39
3.1.5 Lifetime of the Company
39
3.1.6 Financial period of the Company
39
3.1.7 Corporate purpose
39
3.1.8 Appropriation of earnings according to the Articles of Association
40
3.1.9 Management and administration
40
3.1.10 General Meetings
40
3.1.11 Shareholders’rights
41
3.2 Information about the share capital
41
3.2.1 Share capital
41
3.2.2 Unissued authorised share capital
41
3.2.3 Convertible securities
42
3.2.4 Non-equity securities
42
3.2.5 Securities giving access to the capital
42
3.2.6 Summary of current authorisations
42
3.2.7 Treasury shares - Share buyback programme
42
3.2.8 Complex securities
43
3.2.9 Options or agreements involving the Company’s share capital
43
3.2.10 Pledged shares
43
3.2.11 Changes in the share capital
43
3.2.12 Shareholder structure
44
3.3 Share price
48
3.4 Employee profit-sharing plan
49
3.5 Dividend payout policy
49
3.6 Management report for the year ended 31 December 2018
49
3.7 Consolidated fi nancial statements for the financial year ended 31 December 2018
68
3.8 Statutory Auditors’report on the consolidated fi nancial statements for the year ended 31 December 2018
102
3.9 Annual financial statements for the year ended 31 December 2018
106
3.10 Statutory Auditors’report on the financial statements for the year ended 31 December 2018
116
4. CORPORATE GOVERNANCE
121
4.1 Corporate governance report
121
4.2 Transactions with related parties
152
4.2.1 Regulated agreements
152
4.2.2 Other agreements with related parties
152
4.3 Statutory Auditors’report on regulated agreements and commitments
153
4.4 Statutory Auditors
155
5. SIGNIFICANT CONTRACTS
157
6. INFORMATION ON INVESTMENTS
158
7. PERSON RESPONSIBLE FOR THE FINANCIAL INFORMATION
159
8. FINANCIAL CALENDAR
160
9. DOCUMENTS ACCESSIBLE TO THE PUBLIC
161
10. CERTIFICATION BY THE PERSON RESPONSIBLE FOR THE REGISTRATION DOCUMENT
162
10.1 Person responsible for the Registration Document
162
10.2 Certification by the person responsible for the Registration Document
162
11. CROSS-REFERENCE TABLE
163
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