In general, Skanska is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting.
Under ITEM 13, the nomination committee proposes to increase the remuneration of the board of directors by approximately 3.0%. In ECGS' view, the current fees are already at the upper level of Swedish market practice for a company with the size and complexity of Skanska and it therefore does not approve of any increases without adequate justification. Since the proposal is not adequately justified, ECGS recommends to vote OPPOSE.
Under ITEMS 14a-14g, the (re-)election of the board of directors is proposed. In light of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE to the (re-)election of: Mr. Pär Boman (ITEM 14b), Mr. Fredrik Lundberg (ITEM 14d) and Ms. Charlotte Strömberg (ITEM 14g).
Under ITEM 16, the board of directors seeks approval of the Company's executive remuneration guidelines. Although no (material) changes are proposed, ECGS is missing an actual LT component (with a performance measurement period of at least 3 years) under the guidelines. ECGS therefore recommends to vote OPPOSE.
Under ITEM 17, the board of directors seeks approval of a LT incentive plan. In light of an insufficiently long performance period (of only 1 year), ECGS recommends to vote OPPOSE. ITEMS 17a-17c are considered enabling resolutions of the LT incentive plan (see above). ECGS thus recommends to vote OPPOSE. Finally, ECGS notes that the Brazilian competition authority, the Administrative Council of Economic Defense (CADE) and the Ministry of Transparency Inspection and Control (MoT) initiated administrative procedures against Skanska Brazil in relation to certain Petrobras projects. In June 2016, MoT decided that Skanska Brazil shall be excluded from public tenders during no less than 2 years. Skanska Brazil's appeal is still pending. CADE has still to decide on the cartel case. Other authorities in Brazil have initiated procedures related to the same transactions as well.
Skanska is a project development and construction group, concentrated on selected home markets in the Nordic region, European countries and in the Americas. Co.'s business streams are: construction, which includes building and civil construction; residential development, which develops residential projects for immediate sale; commercial property development, which initiates, develops, leases and divests commercial property projects, with project development focusing on office buildings, retail and logistics properties; and infrastructure development, engaged in identifying, developing and investing in privately financed infrastructure projects, such as highways, hospitals and schools.
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Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...
A director at Skanska Ab sold 2,000 shares at 182.356SEK and the significance rating of the trade was 53/100. 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 boa...
While we expect Q3 EBIT to beat consensus based on stronger Nordic construction margins, we see US margins remaining low on unprofitable revenue (results due at 07:30 CET on 27 October). Longer-term, however, we are concerned about weakening Norwegian and Swedish housing markets, prompting us to lower our Residential Development estimates and our Nordic Construction forecasts. In turn we have reduced our 2018–2019e EPS by 3–5%, and our target price to SEK190 (195); our recommendation remains HOLD.
La présente assemblée générale est marquée par le renouvellement de quatre administrateurs et la nomination d'un nouveau membre au conseil. Malgré la non indépendance de la société Orpar nouvellement nommée, le conseil conserve une majorité de membres libres de conflit d'intérêt ce qui lui permet de se conformer au Code de gouvernance Afep/Medef qu'elle applique dans son intégralité…
Proxinvest félicite la société qui propose par la présente Assemblée de changer son mode de gouvernance pour passer d'une société anonyme à Conseil d'administration avec cumul des fonctions de Président et de Directeur Général, à une société anonyme à Conseil de surveillance et Directoire à compter du 1er septembre 2016 …
The EGM is called to approve the merger by incorporation of Exor SpA into its wholly-ownedDutch subsidiary Exor Holding NV. Through the transaction, Exor will change itscountry of incorporation from Italy to the Netherlands. The transaction is aimed atsimplifying the Group's structure, as 85% of Exor's investments are, or are indirectlyowned through, Dutch companies (i.e., Fiat Chrysler Automobiles, Ferrrari, CNHIndustrial and the global insurer PartnerRe Ltd, which is 100% held through Exor NV).Similarly to its listed subsidiaries, Exor will adopt a multiple-voting structure, granting 5votes...
Banco BPM was established in January 2017, resulting from the merger between Banca Popolare di Milano ("BPM") and Banco Popolare. During the last round of TLTRO II in March 2017, 474 European financial institutions bid for €233 billion in loans far exceeding the expected amount of €110 billion. According to Reuters, Banco BPM bid for €3.1 billion in loans (equivalent to 39% of its balance sheet funding from institutional investors, or wholesale funding). These loans have a four-year maturity and carry a 0% interest rate (which could be revised down to -0.4%).In December 2016, Fitch downgraded ...
In item 2.d, the Board proposes the distribution of a dividend of € 0.11 per sharetotalling USD 160 million, despite a net loss of USD 236 million in 2016. We have concerns over the very high consolidated net debt of USD 19'734 million, corresponding to a debt-to-market capitalization ratio of 1.8 at the end of 2016. We also note that free cash flow (USD 914 million in 2016) decreased by 52.1% from 2015, despite 21.7% lower capital expenditures, which were reduced by 56.0% from 2013. As the proposed dividend distribution is fully covered by free cash flow, and taking into account that the Comp...
In general, Proximus is in compliance with the Belgian regulations relating to the organisation and procedures of the Annual General Meeting.Under ITEM 6, the Board of Directors seeks approval for the Company's remuneration report. In light of insufficient disclosure and our other concerns with regard to the executive compensation package, we recommend opposition.There are no further peculiarities.
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