Steering Legal is assisting UDAAC (Union des Actionnaires Minoritaires d’Atos) in an interim injunction to appoint a court-appointed representative to convene a general meeting of the company with a view to changing its governance. The aim of this procedure is to allow the shareholders to change the governance of the company and thus take back control of the decisions affecting the future of ATOS, and thus stop the current dismantling actions organised by the current management.
Since the Annual General Meeting of 28 June 2023, UDAAC has noted that the company has carried out or is planning significant transactions without shareholder approval:
– A pending sale to Mr Kretinsky of half of the group (Tech Foundations) implemented without the prior agreement of the shareholders;
– A proposed capital increase of the same amount, which would result in significant dilution of shareholders;
– A series of changes in the chairmanship, general management and executive management, against a backdrop of challenges to governance by criminal proceedings initiated by investment funds in relation to false stock market information and private corruption of senior executives.
The summary proceedings hearing will take place on the 20th of December at 2pm at the Pontoise Commercial Court in the presence of the AMF (the French financial markets authority).
