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| Stock quotes : 14.99€ (2012/02/03 11:39:00) |
INDEPENDANT CHAIRMAN'S MESSAGE
INDEPENDENCE, SERVING YOUR BEST INTERESTS
CeGeREAL’s Board of Directors, which I have the honour to chair, considers corporate governance to be fundamentally important, which is why it has appointed independent directors with a longexperience in the property business. All strategic decisions are taken in the best interests of all shareholders, along with representatives from Commerz Real and Covéa.
Transparency and independence are two key aspects of CeGeREAL’s approach. Consequently only independent directors sit on the appointments and remuneration and investment committees.
Delivering an impressive yield over the long term remains the Board’s primary objective. The company has studied some rare opportunities for growth; rare since they must satisfy its various requirements relating to quality, location and price. The CeGeREAL shareholder, who has invested in a “pure player” in Parisian office property offering high value-added services, should not be sidetracked by acquisitions made too quickly purely to serve the quest for growth at any price, since ultimately this would have a penalising effect on yields.
2010 was therefore a year of consolidation for CeGeREAL with the opportunity to upgrade its property assets via programmes of refurbishment and environmental optimisation. In 2011 our watchword is “vigilance”, with the marketing of Arcs de Seine and controlled growth.
Richard Wrigley,
Chairman of the Board of CeGeREAL
