Shareholders’ Committee Meeting of September 21, 2012

During the meeting of September 21, 2012, the Committee members had the opportunity to meet with and ask questions of Jean-François Dubois, the new Chairman of Vivendi’s Management Board. During this meeting, following the departure of three members in April 2012, the Committee took on four new members: Agnès Ummenhoven (Ormesson), Martial Cocagne (Loperhet), Ludovic Robin (Saint Brieux) and William Adam (Saint Quentin). The number of members thus increased to 10.

 

A talk with Jean-François Dubos, Chairman of Vivendi’s Management Board

The Committee members asked Jean-François Dubos about the sale of subsidiaries, the information distributed over the past few months and the Vivendi share’s situation (fears of a new state of affairs like that of 2002). Won’t selling assets lead to only a short-term share price increase? Why have we seen so many different news items about Vivendi over the past few months without any reaction from the Group?

Jean-François Dubois explained the reasons for the strategic review currently being carried out by management. He pointed out and underscored the difficulty of issuing statements without giving rise to fresh speculation on the analyses now underway. With regard to the tasks entrusted to Bertrand Meheut, he explained that this work is carried out by a team with the support of Mr. Meheut’s expertise in content and media. He also reminded Committee members of changes in the environment within which Vivendi and its subsidiaries operate (higher taxes in France, new taxes in Brazil, SFR’s purchase of a 4G license, changes to SFR’s offering and so on).

 

Presentation of the final results of the first half of 2012 by Jean-Louis Erneux, Vice President Press Relations and New Media, and Solange Maulini, Director Press and Individual Shareholders Relations.

Solange Maulini and Jean-Louis Erneux summarized the Group’s and subsidiaries’ performance in the first half of 2012 and spoke about the financial goals set for 2012. They also answered questions on topics including the Bolloré Group’s increased presence in Vivendi’s capital, the nature of the legal dispute with Liberty Media and SFR’s new offerings.

 

Discussion of the Group’s communications based on questions sent ahead of time to Committee members

Four questions were sent to Committee members this summer.

How do you view Vivendi’s communication to its individual shareholders?

What are your recommendations?

What more could we be doing?

What are our weaknesses?

The following are the main suggestions and communications ideas generated by the four questions:

The Committee

– Increase dialogue and opportunities for interaction
– Determine how shareholders view the Committee. Have members available at a stand at the Shareholders’ Meeting
– Explain the Committee’s role
– Change the Committee’s working methods; work in subgroups, with a spokesperson and a discussion at the end, for each working subject
– Make the agenda available ahead of each meeting so that work can be done on items beforehand

The website and social networks
– Create a Press Release section in the Individual Shareholder pages
– Create an iPad/Android app for the webzine
– Send a short letter over the Internet
– Make mini-videos/audio recordings available to explain key subjects

The Shareholders’ Meeting
– Anticipate questions that will be asked at the Shareholders’ Meeting via an online survey
– Send out a summary of the Shareholders’ Meeting the same day
– Increase communications about the option of online Shareholders’ Meeting voting

Meetings held by Vivendi
– More frequent meetings

A community
– The need to create a community
– A presence on Facebook is necessary to attract young people and enhance communications with the general public; put this topic on a Committee meeting agenda
– Upcoming launch of a Twitter account
– Create a “Thursday is Vivendi Day” topic on “Using social networks”