2014 Registration Document and Annual Financial Report - page 313

6
Capital and ownership structure
Ownership structure
Changes in ownership structure over the past three years
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2014
Number of
shares % capital
% voting
rights
Number of
shares % capital
% voting
rights
Number of
shares % capital
% voting
rights
ColDay/Legendre
Holding 19
48,673,442 21.42% 30.08% 48,673,442 21.34% 31.18% 48,673,442 20.99% 30.75%
Founders
6,083,430 2.68% 3.35% 5,923,809 2.60% 3.40% 5,492,864 2.37% 3.96%
Other shareholders 172,521,100 75.91% 66.57% 173,455,851 76.06% 65.42% 177,670,093 76.64% 65.29%
TOTAL
227,277,972 100.00% 100.00% 228,053,102 100.00% 100.00%
231,836,399 100.00% 100.00%
Sources: Accor share register, disclosures made to the Autorité des Marchés Financiers and the Company.
There were no shares held in treasury as of December 31, 2014.
A Euroclear France survey of financial institutions holding at least 100,000 shares and of shareholders holding at least 250 shares at
December 31, 2014 identified 8,529 shareholders owning an aggregate 73.51% of the Company’s capital, representing 61.44% of total
voting rights.
Analysis by shareholder category at December 31, 2014
% capital
% voting
rights
Private shareholders
1.59% 1.33%
Institutional investors
66.67% 55.72%
French institutions
12.63% 10.56%
Foreign institutions
54.04% 45.16%
Unidentified in the Euroclear survey
31.74% 42.95%
TOTAL
100.00% 100.00%
Source: Euroclear France.
Shareholders’ agreements relating to the
shares making up the Company’s capital
Apart from the shareholders’ pact described below, the Company
is not aware of any other shareholders’ agreements relating to the
shares making up its capital.
On May 4, 2008, a memorandum of understanding was signed
by Colony Capital (represented by ColTime
(1)
and ColDay
(2)
) and
Eurazeo (represented by Legendre Holding 19
(3)
), acting in concert in
accordance with the memorandum of understanding regarding their
investment in Accor, which they had signed on January 27, 2008.
On December 18, 2009, an amendment to the memorandum was
signed following the Accor Board of Directors’ approval of the
potential benefits of demerging the Group’s Hotels and Prepaid
Services businesses to create two separate listed companies.
The purpose of the amendment was (i) to extend the provisions of
the memorandum of understanding to the shares in Edenred, and
(ii) to extend the undertaking in the memorandum not to sell their
shares in Accor and Edenred until January 1, 2012.
(1) ColTime SARL is controlled by the investment funds ColonyInvestors VI, LP and ColyzeoInvestors LP, which are managed by the Colony Capital,
LLC investment company.
(2) ColDay SARL is controlled by the investment funds ColonyInvestors VIII, LP and ColyzeoInvestors II, LP, which are managed by the Colony
Capital, LLC investment company.
(3) Controlled by Eurazeo SA.
Registration Document 2014
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