Nous tenons à attirer l'attention des actionnaires sur les manquements suivants :
L'absence de rapport des commissaires aux comptes sur les conventions réglementées rend donc impossible l'analyse des conventions existantes et donc l'avenant sur lequel les actionnaires doivent se prononcer, ce qui n'est pas acceptable (résolution 5 et 6).
De plus, la Société soumet à l'approbation deux plans portant sur l'attribution d'options de souscription (résolution 7) et d'actions gratuites (résolution 8), sans pour autant communiquer le contenu de ces plans.
Le nombre de détention de droits de vote n'est pas communiqué par la Société, ce qui n'est pas acceptable étant donné l'existence de droits de vote double.
Le Conseil d'Administration est majoritairement non-indépendant et ne respecte pas la loi en terme de mixité, avec un taux de féminisation de 20%. Nous tenons également à faire remarquer qu'au sein même des organes de direction (11 membres), on ne compte aucun femme. Par ailleurs, la durée de mandat d'un administrateur est de 6 ans et les informations relatives aux membres du Conseil restent trop sommaires, ce qui ne respecte pas l'article R225-83 du Code de Commerce qui impose ces dispositions.
Proxinvest s'opposera aux opérations sur le capital car ces dernières sont possible en période d'offre, ce qui pourrait donc décourager le lancement d'une offre et en fausser son résultat (résolutions 16 à 18 et 20 à 25).
Ateme SA is a France-based company, which is a global solution provider in advanced video compression for the broadcast and telecom industries. It develops hardware and software solutions in video and signal processing. ATEME encoding solutions are deployed widely in broadcast contribution links over satellite or fiber networks, in video distribution to the home, and in multi-screen delivery of live channels and VOD, also known as Over-The-Top video. The company addresses compression applications ranging from Ultra High Definition TV and 3D to Web and mobile streaming. The Company offers a range of products divided into such group as Contribution Encoders, Broadcast Encoders, Transcoders, Integrated receiver decoders, Multiplexers and Network Management System.
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.
Proxinvest main services are :
Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.
Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.
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.
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...
Unfortunately, this report is not available for the investor type or country you selected.Browse all ResearchPool reports
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.