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Aggreko is a provider of modular, mobile energy services and related solutions. Co. is organized into two business units: Rental Solutions and Power Solutions. The Rental Solutions segment provides power, heating and cooling to customers in developed markets. This segment includes Co.'s businesses in North America, Europe, Australia Pacific and Mexico. The Power Solutions segment provides power, heating and cooling to emerging markets. This segment includes all Co.'s other businesses around the world.
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As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide.
AGGREKO PLC. (GB), a company active in the Business Support Services industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date May 14, 2019, the closing price was GBp 820.00 and its expected value was estimated at GBp ...
Item 2: Approve the Remuneration Report The structure is considered unsatisfactory. Although the reduction in the maximum LTI award from 300% to 250% reduces the quantum to a more acceptable level for the UK market, variable remuneration is still overly determined by EPS. It is not considered best practice to rely on EPS as it can potentially be influenced by executives. We recommend shareholders oppose. Item 18: Authorise Share Repurchases EPS is used as a performance condition. It accounts for 80% of the bonus and 50% of the LTI, which is above our limit of 50% of variable remunerati...
Item 3: Approve the Remuneration ReportThe remuneration structure is satisfactory, though accelerated vesting is possible. Potential and actual total variable remuneration exceed guidelines, but not very much. They are moderate in comparison with UK market practice. Overall, the quantum during the year was not excessive. We recommend shareholders vote in favor.
Item 3: Approve the Remuneration Report The structure is weighted more heavily towards short-term performance. One of the performance metrics for the LTI is the payment of sustainable dividends, which is not considered appropriate as executives can potentially influence the payout level. The LTI also includes relative TSR as a performance metric. Nevertheless, the quantum is not excessive and even maximum potential amounts are moderate. On balance, we recommend shareholders vote in favor. Item 4: Approve the Remuneration PolicyThe main concern with the Company's remuneration policy is that pa...
Item 2: Approve the Remuneration ReportThe remuneration structure is unsatisfactory. The main concern at the Company is that the potential maximum incentive pay including the bonus, matching shares on the deferred portion of the bonus and the LTI amounts to 1000% of base salary, which is considered grossly excessive. Actual incentive pay during the year was1.6 times the ECGS limit. Furthermore, variable remuneration is overly reliant on a single performance metric, benchmark profit before tax. A second performance criteria will be used in the coming year. We note that the Company has adjusted ...
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