Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio.
Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes :
Each theme is rated taking into account several comprehensive sub-categories.
Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter. Indeed, our process is supported by a network of local experts that have a deep knowledge of each local market best practices (from both customs and regulatory points of views).
If you are interested in the Proxinvest Corporate Governance Rating ®, please contact directly Proxinvest ( or +33(0)1 45 51 50 43).
Repsol is an oil and gas company. Co. is engaged in all the activities relating to the oil and gas industry, including exploration, development and production of crude oil and natural gas, transportation of oil products, liquefied petroleum gas (LPG) and natural gas, refining, the production of a wide range of oil products and the retailing of oil products, oil derivatives, petrochemicals, LPG and natural gas, as well as the generation, transportation, distribution and supply of electricity. Co. operates in more than 40 countries. Co.'s operations are divided into four segments: Upstream, Downstream, LNG and Gas Natural Fenosa.
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 :
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.
The Annual General Meeting will be held foreseeable on the second call on May 31st, 2019, at 12 p.m. The re-election of the Chairman is proposed in item 10. Mr. Antonio Brufau Niub has served on the Board since 1996 and has been Chairman for fifteen years. Prior to serving as Chairman, he served as CEO of the Company and Executive Chairman. There are concerns that his fixed fees of EUR 2.5 million per year imply that he continues to perform some executive functions. Furthermore, ECGS guidelines do not support the appointment of a former CEO as Chairman. This can undermine the Boardns supe...
A director at Repsol Ypf Sa bought 25,000 shares at 14.340EUR and the significance rating of the trade was 86/100. 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 boar...
La société fait preuve d'une grande transparence concernant les montants attribués aux mandataires sociaux. En revanche, elle l'est beaucoup moins concernant les critères de performances des parts variables de la rémunération, qui restent inconnus. Par ailleurs, l'indépendance du Conseil d'administration est particulièrement préoccupante puisqu'il n'est composé que d'un administrateur indépendant sur six. Pour cette raison la résolution 11 portant sur le renouvellement de Marie Meynadier (membre non indépendante) n'est pas soutenue.
Suite à l'augmentation de capital lancée en mars 2019, 4 nouveaux actionnaires ((i) Latricogne Capital, (ii) les SCI Allianz Immobilier Durable et SCI Alliance Value Pierre, (iii) Cargo Investment B.V. et (iv) Madame Danièle Fredj) ont demandé à obtenir un siège au conseil. Il est donc proposé la nomination de 4 de ces représentants. Comme le conseil ne comprend pas une majorité d'administrateurs indépendants et que ces nouveaux actionnaires ne sont pas les principaux actionnaires de la société, conformément à notre politique de vote, nous ne soutenons aucun de ces candidats. Par ailleurs, la...
"Le 16 novembre 2018, les conseils d’administration de Groupe SFPI et DOM Security ont constaté la réalisation définitive de la fusion absorption de Dom Security SA par Groupe SFPI. "(Document de référence 2018 - Groupe SFPI) La gouvernance pourrait être améliorée en augmentant le taux d'indépendance du Conseil. Nous recommandons l'opposition à la nomination d'ARC Management, notamment pour cette raison. La société ne communique pas suffisamment d'informations sur les politiques de rémunération. Bien que les montants en ex-post soient raisonnables, il serait positif que la société s'améliore...
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