instrument, to the point where informal mechanisms such as corporate culture have only a limited role to play. In other words, powerful boards might serve as a substitute for a strong corporate culture. This

uncomfortable with individual engagement. } When an investor has a small number of shares, or is resource-constrained. A cautionary note about collaborative letters: Collaborative letters can send a powerful

encourage active co-operation between companies and employees.  Securities regulators, stock exchanges, self-regulatory organisations and investor groups should continue to educate companies and the public

PROSPECTUS CHANEL CERES PLC (incorporated with limited liability in England and Wales) EUR300,000,000 Sustainability-Linked Guaranteed Notes due 2026 unconditionally and irrevocably guaranteed by Chanel Limited Issue price: 99.726 per cent. and EUR300,000,000 Sustainability-Linked Guaranteed Notes due 2031 unconditionally and irrevocably guaranteed by Chanel Limited Issue price: 99.400 per cent. The EUR300,000,000 Sustainability-Linked Guaranteed Notes due 2026 (the "2026 Notes") and the EUR300,...