Report
Anaïs Dudout
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Proxy Report - 18/04/2018

ITEM 12, 14, 16 Méka Brunel was named CEO in 2017. Despite satisfactory financial performance an improvement in Gecina’s environmental footprint (lower GHG emissions), her compensation seems excessive and disclosure is below average. We recommend that shareholders oppose her compensation plan.

ITEM 7, 8, 9 In 2017, Gecina acquired its competitor Eurosic. We welcome this acquitistion form a strategic standpoint given the consolidation currently taking place in the sector. Furthermore, the financial conditions of the transaction do not raise any concerns. We recommend that shareholders approve this transaction.

Underlying
Gecina

Gecina is a rental real estate company. Co.'s purpose is to operate individual rental properties or group of properties located mainly in France. Co.'s properties include commercial assets (offices and retail outlets), residential assets, logistics assets, hotels and healthcare facilities. Co. is organized around two main sectors and one ancillary segment: Economic sector comprising the commercial segment (offices and retail outlets), the portfolio of logistics properties and of hotel buildings; Demographic sector comprising traditional residential units (housing units property holding), portfolio of students residences and of healthcare facilities; Ancilary segment of real estate services.

Provider
Proxinvest
Proxinvest

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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Analysts
Anaïs Dudout

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