Report
Jehanne Leroy
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Proxy Report - 05/04/2018

La présente assemblée générale extraordinaire est convoquée afin, notamment, de mettre à jour les statuts avec les modification de la Loi luxembourgeoise et les dernière dispositions adoptées lors des précédentes assemblées. La plupart des propositions de modifications faites ne posent pas de problème particulier.

Cependant, la modification proposée en résolution 5 ne semble pas suffisamment protectionnistes pour les actionnaires. En effet, elle permet à la société d'attribuer des actions existantes de la société aux salariés, sans aucune contrepartie. Si globalement ce principe ne semble pas néfaste, dans ce cas précis, aucun plafond d'attribution (en nombre d'actions ou en pourcentage du capital) n'est communiqué. L'actionnaire ne peut donc pas s'assurer que la part du capital attribuer gratuitement aux salariés ne serait pas excessive.
Cette proposition semble donc bien trop large ou laxiste.

Underlying
SES
SES

SES is engaged as a provider of satellite-delivered services. As a strategic management company, Co. operates through a unique network of leading satellite operators around the world. This network comprises the fully-owned SES ASTRA in Europe and SES AMERICOM in the U.S., as well as participations in regional satellite operators. SES ASTRA is European direct-to-home satellite operator. SES AMERICOM operates a fleet of 17 satellites serving the Americas, Europe and the Asia-Pacific region. AsiaSat provides transponder capacity for broadcast, broadband and telecommunications services in the Asia-Pacific region.

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
Jehanne Leroy

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