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ERAMET: clarifications from the AREVA Group

Press release

April 27, 2007

Articles in today's press carry reports on a letter sent to AREVA by France's Minister for the Economy, Finance and Industry and the Minister of Overseas Territories on the subject of Eramet.
Before it even receives this letter, the group would like to offer the following clarifications:

  • The decisions taken to appoint a new Chairman and CEO of Eramet were done so in full compliance with Eramet's governance rules.
  • The decision not to renew the mandate of Mr. Bacardats was approved by Eramet's General Assembly by 97.8% of the votes cast. Representatives from New Caledonia voted in favor of a non-renewal.
    As regards AREVA's position in Eramet:
    • The group owns a 26% stake in Eramet, is a minority partner in the accord with Sorame-CEIR, and puts forward five of the company's fifteen Board members.
    • The General Manager of the French Government Shareholding Agency (Agence des Participations de l'Etat - APE) was notified on Wednesday April 18, 2007, of the intention of the two major shareholders to table a proposal at the General Assembly not to renew M. Bacardats' mandate, as well as their intention to nominate Patrick Buffet as his successor. On the evening of April 18,
    • r. Buffet was congratulated by a minister of state from the Ministry of the Economy.
    • The minister of Overseas Territories was informed by the group on April 24, 2007.
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