Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio.
Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes :
Each theme is rated taking into account several comprehensive sub-categories.
Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter. Indeed, our process is supported by a network of local experts that have a deep knowledge of each local market best practices (from both customs and regulatory points of views).
If you are interested in the Proxinvest Corporate Governance Rating ®, please contact directly Proxinvest ( or +33(0)1 45 51 50 43).
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.
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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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.
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 ...
A director at Ica Gruppen Ab bought 5,479,731 shares at 316.000SEK and the significance rating of the trade was 68/100. 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 of...
The independent financial analyst theScreener just requalified the general evaluation of ICA GRUPPEN AB (SE), active in the Food Retailers & Wholesalers industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date September 25, 2018, the closing price was SEK 278.60 and its target price was estimated at SEK 254.49.
The Company has paid a dividend in respect of the financial year, however no resolution to approve the distribution has been proposed at the general meeting. Item 2: Approve the New Remuneration policy The company proposes to remove the Bonus Plan for 2019/20. Therefore, variable incentives will solely be based on 2011 awards performance condition of £2 of return required each year for the tranche of options to vest, and £2 of return required each year for any of the ‘banked’ shares to vest. Thus, there will be an insufficient alignment between incentive pay and Company strategy. Moreover, ...
Il est proposé de modifier les statuts afin de créer la fonction de censeur et de nommer à ce poste le groupe L’Oréal, via son fonds d’investissement BOLD Business Opportunities for L’Oréal Development, qui a participé à une augmentation de capital en juin 2019 lui permettant de devenir le premier actionnaire de la société avec 17,3% du capital et des droits de vote. Bien qu'il soit légitime que le principal actionnaire de la société siège au conseil, le choix d'y figurer en tant que censeur ne sera pas soutenu. En effet, Proxinvest n'est pas favorable à la présence d'un censeur au sein du co...
Il est proposé une offre publique de rachat auprès de tous les actionnaires de la société au prix de 6,50 € portant sur 18,84% du capital. Selon la société, cette offre constitue une opportunité offerte aux actionnaires de céder leurs actions avec une prime et de trouver une liquidité que le marché ne leur offre pas aujourd’hui. Il est positif de donner aux actionnaires la possibilité de céder leurs actions. Cependant, cette opération d'OPRA pose la question de l'absence de projets d'investissements rentables identifiés par la société. Par ailleurs, le problème de liquidité soulevé semble inc...
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