On February 8, 2018, the company announced that Chairman and CEO are now split. Gilles Schnepp remains Chairman while Benoît Coquart is CEO.
ITEM 5: Although the 2018 remuneration of the Chairman will exceed the index median, considering improvements made on governance (removal of the double voting rights in 2015 and split of Chairman and CEO functions), we support the 2018 remuneration policy of the Chairman.
ITEM 6: Although the increase of the fixed remuneration is not excessive, it is combined to the increases of target and maximum bonuses and of LTI cap. Hence the total variable remuneration can now represent 450% of the fixed remuneration, which exceeds our 300%-ceiling. However in such cases (low fixed remuneration but generous variable structure), Proxinvest, the French Partner of ECGS, could allow such remuneration policy as long as the total remuneration maximum amount remains below the median, which is precisely the case here. Therefore, we recommend approval.
Legrand is a global specialist in electrical and digital building infrastructure based in France. Co. offers a full range of control-and-command, cable management, energy distribution and "Voice-Data-Image" products and systems which are suitable for the international commercial, industrial, and residential segments of the low voltage market. Co. markets its products under internationally recognized general brand names, including Legrand and Bticino. Each product group is marketed in all of Co.'s major geographic markets (France, Italy, Rest of Europe, USA/Canada and Rest of the World).
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.
A director at Legrand Promesse bought 1,000 shares at 53.040EUR and the significance rating of the trade was 55/100. 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 bo...
The independent financial analyst theScreener just requalified the general evaluation of LEGRAND (FR), active in the Electrical Components & Equipment 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 November 20, 2018, the closing price was EUR 53.14 and its target price was estimated at EUR 50.48.
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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