In general, ICA Gruppen is in compliance with the Swedish regulations relating to the organization and procedures of the Annual General Meeting.
Under ITEM 16, the nomination committee seeks approval of the (re-)election of the board of directors. In view of insufficient independent representation on the board, ECGS recommends to vote OPPOSE.
Under ITEM 18, it is proposed to establish a(n) (external) nomination committee. Like several institutional investors, ECGS has concerns over the bundled form under which the election of directors is put to shareholders' vote in Sweden. ECGS therefore has decided to take such concerns (if applicable) into account and express these at the resolution on the nomination committee, as in Sweden said committee is responsible for nominating candidates to the board of directors (either in bundled or unbundled form). Since the election of the board of directors is proposed as a slate (bundled) at the 2019 AGM, ECGS recommends to vote OPPOSE.
Finally, under ITEM 19, the board of directors seeks approval of the Company's executive remuneration guidelines. ICA Gruppen's LTIP consists of performance cash. ECGS is not in favour of 'cash-based' LT incentives and furthermore notes that there is no disclosure to suggest that a share-ownership requirement has been established for members of the executive management. As a matter of principle, ECGS strongly favours such an ownership requirement as it serves to align the interest of members of the executive management with those of the shareholders. As no such alignment is demonstrated, ECGS recommends to vote OPPOSE.
ICA Gruppen is a retail group based in Sweden. Co. is engaged in maintaining and operating its own and retailer-owned stores in Sweden, Norway, Estonia, Latvia, Lithuania and Finland. Co. consists of ICA Sweden, ICA Norway and Rimi Baltic, which are mainly involved in grocery retail, ICA Real Estate which owns and manages properties, and ICA Bank which offers financial services to Swedish customers. Co. also includes the wholly-owned portfolio companies Forma Publishing Group and inkClub, as well as the partly-owned Cervera, Hemtex and Kjell & Company.
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The independent financial analyst theScreener just lowered the general evaluation of ICA GRUPPEN AB (SE), active in the Food Retailers & Wholesalers industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date November 15, 2019, the closing price was SEK 422.90 and its target price was estimated at SEK 394.70.
A director at ICA Gruppen Ab maiden bought 2,000 shares at 424.560SEK and the significance rating of the trade was 72/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names...
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