pleasenote - Fondaction

December 2006
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11th Annual General Meeting of Shareholders
Fondaction Publishes its
First Sustainable Development Report
Fondaction presented its first sustainable development report on
September 30, at the 11th annual general meeting of shareholders, which
took place at Montréal’s Hyatt Regency hotel. The event also marked
Fondaction’s 10th anniversary.
Fondaction leads the way
Premier rapport
de développement durable
Rapport annuel 2005-2006
The drawing on the cover of Fondaction’s first sustainable
development report is the work of the internationally celebrated animator Frédéric Back. “To reap the finest rewards,
one must sow with discernment, for insightful wisdom
upholds a creative and sustainable ideal,” the artist writes.
“Ten years ago, before all the other financial institutions
in Québec, Fondaction embarked resolutely on the path of
sustainable development,” indicated Claudette Carbonneau,
President and Chair of the Board of Directors. “Today, Fondaction
is still at the forefront, reporting its economic, social and
environmental performances according to internationally
recognized standards of transparency and rigour.”
Fondaction’s first sustainable development report was inspired
by the guidelines of the Global Reporting Initiative (GRI),
launched by the Coalition for Environmentally Responsible Economies (CERES) and
the United Nations Environment Programme (UNEP). Fondaction is the first financial
institution in Québec handling the savings of the general public and the first labour-sponsored fund in Canada to initiate such a course of action and produce a sustainable
development report. The Fund has pledged to repeat the exercise every other year.
It aims to rank alongside the leading financial institutions in Québec that voluntarily
impose such lofty requirements by publishing, as early as 2010, a sustainable development
report in full compliance with the GRI guidelines.
Our agenda for the 21st century
In the words of CEO Léopold Beaulieu: “This first sustainable development report allows us to take stock of our situation
and put ourselves at par with others who have also committed themselves to sustainability. This presentation also allows us
to identify improvements to be made in the years to come and to keep track of their development.”
A survey revealed that the majority of our shareholders adhere to the ethical principles that guide Fondaction’s actions.
This common goal of social transformation and the prospect of a new code of ethics for business practices form the basis
for Fondaction’s project. At the Earth Summit in Rio de Janeiro in 1992, 172 states adopted Agenda 21, an action plan to
promote sustainable development oriented toward the fight against poverty and social exclusion, the production of durable
goods and services and environmental conservation. “Our first sustainable development report is, in a way, the Agenda 21
of Fondaction, a socially responsible financial institution of the 21st century,” concluded Léopold Beaulieu.
Elections to the Board of Directors
Two positions were up for election to the Board of Directors at the 11th annual general
meeting of shareholders. Alain Lampron and Michel Tremblay were re-elected for a
two-year term. Fondaction’s first sustainable development report includes the results for
the 2005-2006 fiscal year. The document is posted on our Internet site.
Greenhouse gas reduction
Based on a calculation of the quantity of greenhouse gas emissions generated by participants
travelling to the 11th annual general meeting of shareholders, Fondaction made a
monetary contribution to the environmental firm Unisféra, in connection with its
Planetair program. This contribution will be used for the purchase of greenhouse gas
emission credits for developing countries, investments in alternative energy sources, tree
planting and reforestation projects or for energy conservation projects.
please
note
pleasenote
The RRSP campaign is fast approaching. Have you contributed enough this
year to fully benefit not only from your 30% income tax credit for contributions to
a labour-sponsored fund, but also from your RRSP contribution room for 2006?
Fondaction now has more than 900 FRs in place at some 30 savings union
points of service and in 650 CSN unions. Contact us for more
information!
Change of address? Moving?
Don’t forget to let us know by filling out the enclosed change of address notice
and returning it to us as soon as possible.
If you wish to receive Fondaction’s news on a more regular basis, just log on to
our Internet site!
www.fondaction.com
2006-2007 share issue
Fondaction will be able to receive
all subscriptions
During the fiscal year ending on May 31, 2007,
Fondaction will not be subject to any limit on the issue
of its shares and will be able to receive all subscriptions.
We remind you that you have until closing time on
March 1 to subscribe to Fondaction and receive tax
benefits for the 2006 taxation year.
Subscription methods tailored
to your needs
New this year, as of mid-December, you can deposit funds
into your Fondaction account directly, via the Internet.
If you are a member of a Desjardins savings union or
caisse populaire, you can also make a direct deposit at a
branch of this institution, where deposits will be accepted
either at the counter or through an automated banking
machine. It’s fast, easy and secure. Contact the
Shareholder Relations Department to find out more.
What’s more, you can make an additional Fondaction
subscription right now by completing the form provided
for this purpose on our Internet site and returning it to us
by mail. Or you can drop by Fondaction’s head office or
any of the temporary offices set up across Québec in the
month of February. Check our Internet site in January for
the locations and opening hours.
You can subscribe to Fondaction by way of a lump-sum
payment, preauthorized withdrawals or payroll deductions
(PD), if this subscription method is offered by your
employer. PD is the right approach to take as it lets you
save painlessly while instantly reducing your income taxes.
It’s a tax-effective way to make your
savings count!
To reach us toll-free: 1 800 253-6665 or 514-525-5505
Suite 103
2175 De Maisonneuve Blvd. East
Montréal, Québec H2K 4S3
Fax: 514-525-5218
E-mail: [email protected]
www.fondaction.com
Income tax receipts
Relevé 10 slips
If you subscribed to Fondaction between March 1 and December 31, 2006, you can expect to receive a Relevé 10 slip in mid-January 2007.
If you plan to subscribe to Fondaction during the first 60 days of 2007, your contribution must be made by March 1, 2007.
You may have elected to subscribe by way of a lump-sum payment, in which case a Relevé 10 slip will be issued when your
contribution is deposited. For contributions received by payroll deduction, the Relevé 10 slip will be issued in mid-March.
If you choose to file your tax returns via the Internet, you are not required to submit your Relevé 10 slips. You must retain them
with your records, however, in case of an income tax audit.
January 12, 2007
Next share valuation
Fondaction establishes the value of its share twice a year, based on its audited financial statements for the periods ended
May 31 and November 30 respectively. These valuations will now be made on the second Friday in January and
on the second Friday in July.
On January 12, 2007, the Board of Directors will announce the new share value, which will come into effect immediately.
To purchase shares at the current value of $10.46, subscriptions must be received no later than January 11, 2007, together
with the appropriate forms and payment (cheque or money order) dated January 11, 2007 or before. All subscriptions
received as of January 12, 2007 or for which the related documents or payment are dated after January 11, 2007
will be applied to the purchase shares at the value announced on January 12, 2007.
New Investments
Fondaction invests in
manufacturing engineering
Fondaction has injected $2.1 million into Averna Technologies Inc. and its
subsidiary Averna Vision & Robotics Inc. These enterprises offer quality
control and productivity automation systems for different types of
industries. The funds invested by Fondaction will primarily support the
growth and marketing efforts of Averna Vision & Robotics Inc., which has
already experienced great success in the aerospace and automobile industries. Last April, Averna received Frost & Sullivan’s Excellence in Technology
of the Year Award. Averna counts on a team of more than
100 employees. Its head office is located in Montréal and it also has offices
in Ottawa and Toronto. The company’s main clients are GE, Harris, Alstom,
Thales, IBM, CN, Timken, the Canadian Space Agency and Phillips.
Photo: Alain Chagnon
Photo : Algolith
Image enhancement solutions:
A niche of excellence
Algolith is a world-class image enhancement solutions enterprise.
It develops and markets technological solutions that dramatically
improve the quality of television images and reduce impairments
caused by digital image compression. Algolith caters to home-theatre
and post-production markets. Fondaction has invested $2.75 million
in this company, which is helping to develop Québec’s expertise
and prominence in the image enhancement industry, a niche
of excellence for Québec.
Fondaction has invested
$1 million in Vacances Maestro.
The new Québec City tour operator
offers a range of vacation destinations and products with departures
from the Jean Lesage International
Airport. Maestro now aims to make
Québec City a gateway point and
to bring more tourists from Europe
and the Americas to the region.
The enterprise plans to develop
tourism in the eastern part of the
province, with flights to and from
Québec City, by offering regional
tourism products.
A new player in the industry,
Maestro is expected to generate
economic spin-offs of close to $46
million in its first year of operation
and to create 100 direct jobs in
the Capitale-Nationale region.
Photo : Guy Rainville
$1 million for Vacances Maestro
Léopold Beaulieu, CEO of Fondaction
Creation of the first fund devoted exclusively to fair trade
Filaction, le Fonds pour l’investissement local et l’approvisionnement des fonds communautaires, created on Fondaction’s initiative, recently invested
$500,000 in the Fonds d’investissement dédié au financement du commerce équitable, an investment fund devoted to financing fair trade activities.
The Caisse d’économie solidaire Desjardins and Équiterre are also partners in this project. The new fund will help to meet a growing demand by
Québec consumers for fair trade products. These products enable producers in developing countries to earn a decent income.
Learn more about
sustainable
development at
Reervert.com
During the month of December, Fondaction
will launch a new Internet site showcasing its
performance with regard to sustainable
development. You will find a variety of information
and numerous examples of its achievements.
You’ll also learn more about the positive
economic, social and environmental spin-offs
of the initiatives taken by your labour-sponsored
fund.
By choosing to save for your retirement
with Fondaction, you are contributing to the
development of a more socially responsible
financing!