Concernant les diverses indemnités de départs convenues au bénéfice des dirigeants, bien que les montants maximum des indemnités soient en ligne avec le plafond de 12 mois de rémunération salariale (fixe + bonus annuel) fixé par Proxinvest, les motifs donnant droit au versement de celles-ci ne respectent pas la politique de Proxinvest qui en limite le versement à la seule hypothèse d’un départ contraint et lié à changement de contrôle.
La résolution 17 relative à l’approbation des principes de détermination des éléments de rémunération des dirigeants pour l’exercice 2017 ne peut être soutenue en raison d’un manque de transparence de la société.
Par ailleurs, le conseil est indépendant à 85,71% selon Proxinvest, ce qui est satisfaisant. Ainsi, Proxinvest soutient le renouvellement, la ratification et la nomination des administrateurs proposés aux résolutions 19, 20 et 21.
Erytech Pharma is a pharmaceutical company based in France. Co. is primarily engaged in developing cancer therapies that work by starving tumors. Co.'s first product (ERY-ASP), which is in phase III development, provides a therapeutic solution to frail patients with acute leukemia. Co.'s proprietary technology is based on encapsulation of therapeutic molecules into red blood cells. Co. maintains a production unit located in Lyons with "Pharmaceutical Establishment" status. Co. has also signed two distribution partnership agreements with the Orphan Europe-Recordati company and the TEVA group.
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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Nous actualisons notre hiérarchie sectorielle biotech en ce début d’année 2019 (15 valeurs). Nous préconisons les sociétés avec un newsflow majeur, focalisées sur un domaine thérapeutique porteur et sans risque cash. Ainsi, nous recommandons à l’Achat Cellectis (OC 26 € - Initiation de couverture), Genfit (OC 63 € vs 59 €), Innate Pharma (OC 11.6 € vs 10.9 € - Top pick) et Orphazyme (OC 96 DKK vs 107 DKK), alors que nous devenons plus prudents sur Genkyotex (Alléger vs Achat - OC...
We have reviewed our biotech sector hierarchy at the start of 2019 (15 stocks). We favour companies with major newsflow, a focus on a specific high-growth therapeutic area and a solid cash position. On this basis, we are at Buy on Cellectis (TP € 26 - initiation of coverage), Genfit (TP € 63 vs € 59), Innate Pharma (TP € 11.6 vs € 10.9 - top pick) and Orphazyme (TP DKK 96 vs DKK 107) and have become more cautious on Genkyotex (Reduce vs Buy, TP € 1.0 vs € 3.4) and Neutral on DBV ...
Item 1: Approve the share consolidation The Board requests shareholder approval to implement a share consolidation on the basis of 19 new ordinary shares for every 20 existing ordinary shares held. The consolidation is intended to maintain comparability, as far as possible, of the Company’s share price before and after the payment of a special dividend of $2.621 per share. The special dividend is equivalent to 5% of the market capitalisation of the Company as at 14 December 2018. The Company has implemented a series of share consolidations, returning funds to shareholders in this way in 2012...
Item 1: Approve Share Buybacks Shareholder approval is being sought to authorise the Company to make market purchases of its ordinary shares following the inclusion of a typographical error in the resolution granting authority at the 2018 AGM. This error meant that the authority granted at that meeting has already expired. As there is currently no authority in place, the Board proposes the standard share repurchase authority for the UK market with period ending until the earlier of 25 October 2019 (being the later date set out in in the resolution granting authority at the 2018 AGM) and the ...
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