Report
Charles Pinel
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Etude de l'AG du 30/06/2017

Parmi les nombreuses résolutions proposées, la plupart sera soutenue. En effet, les deux résolutions portant sur la rémunération du Président-Directeur général seront approuvées en raison notamment d'une très bonne transparence et de montants maitrisés (résolutions 6 et 7).

Par ailleurs, le conseil est composé majoritairement de membres libres de conflits d'intérets potentiels, ce qui permet d'approuver les nominations et renouvellements proposés (résolutions 8 à 11).

Seules trois résolutions ne seront pas soutenues:
- le montant demandé de jetons de présence semble trop élevé (résolution 5) ;
- Proxinvest s'oppose systématiquement aux options de sur-allocation et aux autorisations générales d'augmentation de capital en vue de rémunérer des apports en nature non spécifiés (résolutions 18 et 20).

Underlying
Neopost

Neopost supplies mailroom equipment, offering products for franking, folding & inserting, addressing, address cleansing, tracking, tracing letters, parcels & the supply chain. Co. also offers various services, including consulting, maintenance, financial services & online service. Co.'s activities can be summed up to 2 segments: Mailroom Solutions & Communication & Shipping Solutions, divided into 9 operations: Automated mail opening, Management of incoming mail & traceability of important mail, Address printers, Automated insertion equipment, Intelligent franking, Financing solutions, Data quality, Customer Communication Management and Shipping Solutions, mainly in Europe & North America.

Provider
Proxinvest
Proxinvest

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.

Proxinvest main services are :

  • ​Proxy reports
  • Definition and monitoring of client customized voting guidelines
  • Corporate Governance Data and Rating
  • Thematic research
  • Engagement support

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. 

Analysts
Charles Pinel

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