Cette année, la Société offre un vote contraignant sur la politique de rémunération 2017 de son Directeur Général pour la première fois et dans le cadre de la nouvelle loi "Sapin II" (résolution 14).
Proxinvest recommande aux actionnaires de s’opposer à cette résolution étant donné que la Société ne communique pas la politique de rémunération de son dirigeant pour l’exercice, ni les montants qui y sont attachés.
En ce qui concerne les autorisations d'augmentation du capital, la Société ne suspend toujours pas ces opérations en période d'offre publique. Ces résolutions peuvent donc être assimilées à des dispositifs anti-OPA et de ce fait, vont à l'encontre de notre politique de vote. De plus, la résolution 20 propose d’offrir un décoté de 15% les nouveaux entrants au capital, ce qui viendrait diluer de manière excessive les actionnairs.
Proxinvest recommande donc aux actionnaires de ne pas approuver la majorité de ces autorisations.
ABIVAX is a clinical stage biopharmaceutical company focusing on the discovery, development and commercialization of novel anti-viral compounds and therapeutic vaccines against severe and life threatening infectious diseases. ABIVAX utilizes RNA-protein interaction interference and cytotoxic TH1 cell amplification to generate therapies to help patients clear viruses like HIV, HBV and HPV. The Company's product pipeline comprises ABX 203, which is the therapeutic vaccine candidate obtained from the Centre for Genetic Engineering and Biotechnology, Cuba (CIGB) and is intended for patients with chronic hepatitis B disease; and ABX196, the adjuvant for therapeutic vaccines, among others.
Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.
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A director at Abivax bought 523,899 shares at 6.850EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board memb...
Proxinvest attire l'attention des actionnaires sur plusieurs points. Contrairement à l’année, au regard de la démission de Dominique Costantini, le conseil n’est plus majoritairement indépendant avec seulement la moitié de membres libres de conflits d’intérêts. Proxinvest regrette que la société se permette d'utiliser ses augmentations de capital pendant les périodes d'offre publique, ce qui est d'après Proxinvest un dispositif anti-OPA. Enfin concernant la politique de rémunération du Directeur Général, Proxinvest regrette le manque de transparence et les montants qui excèdent la médiane d...
On 9 May 2019, the Company issued convertible bonds for a total principal amount of EUR 150 million. The sole agenda item relates to the proposed approval and ratification, in accordance with Article 556 of the Belgian Companies Code, of conditions of the convertible bonds in case of a change of control. These are standard provisions and they are in line with the market practice. Hence, we see no reason for shareholder concern and recommend to approve.
General: Hella is a leading automotive supplier with over 125 locations in some 35 countries. In financial year 2018/2019, the Company generated sales of EUR 7.0bn with around 39,000 employees. Hella specialises in innovative lighting systems and vehicle electronics in its segments Automotive and Aftermarket. Furthermore, in its Special Applications segment, Hella develops, manufactures and sells lighting and electronic products for specialist vehicles. As of 31 May 2019, a total of 60.00% of the Company's shares were covered by a pool agreement of family shareholders. A total of 62 members o...
In general, NN Group is in compliance with the Dutch regulations relating to the organisation and procedures of the Extraordinary General Meeting. On August 12, 2019, the Company announced that Mr. Lard Friese stepped down as CEO of the Company to become the new CEO of Dutch competitor Aegon. ECGS notes that the sole agenda item of this EGM (ITEM 2) concerns the intended appointment of Mr. David Knibbe as CEO and member of the executive board of NN Group. According to Dutch law and the Company's Articles of Association, shareholders are NOT entitled to vote on such agenda item; it is a discus...
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