Argan: new pact between the Le Lan family and Predica

(CercleFinance.com) - Logistics property company Argan has announced that the Le Lan family and Predica, a subsidiary of Crédit Agricole Assurances, have signed a new five-year agreement.
Effective from October 15, 2024, it replaces the previous agreement signed in 2019.

As part of this renewal, Argan's governance structure is to be streamlined, with the Supervisory Board reduced to six members from the current eight, with a view to enhancing the effectiveness of this central governance body.

The board would comprise three members proposed by the Le Lan family, two independent members and Predica. The Le Lan family and Predica will each be able to propose the appointment of a non-voting censor to the Board.

As a reminder, the Le Lan family holds 36.7% of Argan's share capital, while Predica holds 15%. The parties have agreed to meet before the expiry of this pact to define the terms of a new agreement, if necessary.

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