A1W0FA bpost SA

Proxy Report - 09/05/2018

ITEMS 8.1 to 8.3: it is proposed to elect candidates proposed by the Belgian State. However, names, current functions and biographies have not been released yet. Hence, ECGS cannot estimate whether they hold an excessive number of mandates.

Moreover, at the end of the 2018 AGM, the board will have 12 members, including 6 non independent members, which does not respect our Guidelines which requires a majority of independent members. Hence, we cannot support these proposals.

ITEM 5: it is proposed to approve to remuneration report. The company does not disclose the amount of the annual bonus based on 2017 performances. This does not respect the accrual principle and European practice. Moreover, the CEO’s remuneration does not comprise any LTI. Hence, his interests are not in line with the long-term interests of shareholders.

24/04/2018
20 pages
EN

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Underlying

Industrial Goods & Services - Belgium

Bpost SA, formerly bpost NV is a Belgium-based provider of postal services in Belgium. The Company's services include collection, transport, online parcels and doorstep financial transactions. It specializes in inbound and outbound international mail and sorting and delivery of letters. Bpost also provides solutions in document management, certified electronic communication and international added value services. It provides services to individuals and corporate customers. The Company's subsidiaries are Altretis NV-SA, BPI NV-SA and Certipost NV-SA, among others. On September 15, 2014, it alunched CycloSafe, a product that can identify and track down stolen bicycles.

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