Item 2: Approve the Remuneration Report
The structure is satisfactory, though the maximum bonus exceeds guidelines and accellerated vesting is possible. While the quantum is not excessive, the payout is not adequately aligned with performance as the STI targets are not challenging. The LTI is overly reliant on a single performance criterion. Furthermore, EPS is not considered an appropriate metric given that it can potentially be influenced by executives.
Item 13: Appoint the auditors
It is proposed to rotate the auditors and appoint PricewaterhouseCoopers. KPMG (and its predecessor entities ) has been the external auditor since 1986, well in excess of ECGS guidelines limit and market practice.
Johnson Matthey is a provider of sustainable technologies. Co. operates in five divisions: Emission Control Technologies, a manufacturer of catalysts and catalyst systems that enable clean air; Process Technologies, a supplier of catalysts, licensing technologies and other services to the syngas, oleo/biochemical, petrochemical, oil refining and gas processing industries; Precious Metal Products, which include management, distribution, refining and recycling of precious metals, and fabricate products; Fine Chemicals, a supplier of active pharmaceutical ingredients and custom services for pharmaceutical customers; and New Business, which focuses on additional areas of potential growth.
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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 ...
Les actionnaires sont convoqués afin d'approuver le projet de fusion-absorption d'Affine par la Société de la Tour Eiffel. L'analyse des parités induites par les ANR des sociétés montre une décote de 8,7% au détriment des actionnaires d'Affine. Les commissaires à la fusion expliquent clairement que la décote "disparaitrait en cas de légère remontée des taux de rendement attendus sur les actifs immobiliers, hypothèse qui ne peut être écartée au regard de la situation des marchés financiers, et l’affecterait à raison de sa structure financière également". Au regard de la situation financière d’...
Depuis l’exercice 2016-2017, Vilmorin & Cie se réfère au Code de gouvernement d’entreprise Middlenext. Ainsi, bien que la société se conforme parfaitement au code MiddleNext puisque son conseil comprend 2 administrateurs indépendants (1 seul selon Proxinvest), on regrettera toutefois qu'elle n'ait pas saisi l'occasion de la vacance du siège de M. Foucault (qui a démissionné) pour nommer en son sein un administrateur non lié au premier actionnaire et parfaitement indépendant. Par ailleurs, bien qu'il soit tout à fait appréciable que la société ait communiqué que le bonus annuel du Directeur gé...
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