L'ensemble des rémunérations des dirigeants mandataires sociaux fait l'objet des résolutions 6 à 11. La particularité d'Infotel est de présenter des politiques de rémunération ne comportant aucune part variable. Cette spécificité n'est pas en accord avec notre politique de vote. Toutefois, les mandataires sociaux dirigeants sont tous actionnaires à au moins 2% du capital, et les montants sont raisonnables, ce qui atténue nos réserves.
Cependant, nous attirons l'attention de la société une nouvelle fois sur le conseil d'administration dont les caractéristiques ne correspondent nullement à notre politique de vote : il est composé de seulement quatre membres, dont trois dirigeants mandataires sociaux. Alors que ces dirigeants sont âgés de plus de 70 ans et détiennent des fonctions dirigeantes dans la société depuis au moins dix ans, la société propose tout de même leur renouvellement. A l'exception de l'administratrice indépendante, nous recommandons l'opposition à l'ensemble de ces renouvellements.
Infotel is a group of consulting companies and a global software vendor. The Group has developed a complete service offering and a range of software for enterprise servers. Co. provides consultancy, analysis, IT system audits, third-party application maintenance and software testing solutions. Co. designs and implements, as service contracts or service desk, management projects by implementing advanced methods and technologies, from mobile technology to databases. Co. has developed software to assist customers in areas such as DB2® (security, performance and management), data management and archiving, web-enables or quality applications and relational database performance.
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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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.
A director at Infotel sold 548 shares at 39.576EUR and the significance rating of the trade was 52/100. 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 board members a...
Item 3: Approve the Remuneration ReportThe remuneration structure is satisfactory, though accelerated vesting is possible. Potential and actual total variable remuneration exceed guidelines, but not very much. They are moderate in comparison with UK market practice. Overall, the quantum during the year was not excessive. We recommend shareholders vote in favor.
Item 3: Approve the Remuneration Report The structure is weighted more heavily towards short-term performance. One of the performance metrics for the LTI is the payment of sustainable dividends, which is not considered appropriate as executives can potentially influence the payout level. The LTI also includes relative TSR as a performance metric. Nevertheless, the quantum is not excessive and even maximum potential amounts are moderate. On balance, we recommend shareholders vote in favor. Item 4: Approve the Remuneration PolicyThe main concern with the Company's remuneration policy is that pa...
Item 2: Approve the Remuneration ReportThe remuneration structure is unsatisfactory. The main concern at the Company is that the potential maximum incentive pay including the bonus, matching shares on the deferred portion of the bonus and the LTI amounts to 1000% of base salary, which is considered grossly excessive. Actual incentive pay during the year was1.6 times the ECGS limit. Furthermore, variable remuneration is overly reliant on a single performance metric, benchmark profit before tax. A second performance criteria will be used in the coming year. We note that the Company has adjusted ...
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