Assemblée générale mixte particulièrement contestée pour cette société soumise à un plan de restructuration très critiqué par les actionnaires. La communication financière de la société pose de réels soucis ainsi que la composition du conseil et son comportement très critiqués publiquement par l'association des porteurs individuels RegroupementPPLocal (1400 membres) en raison de l'évolution du cours depuis la mi-2015 et du plan de restructuration proposé. L'approbation des comptes sociaux et consolidés appelle de sérieuses réserves. Il en est aussi des autorisations financières proposées en ligne avec un plan de restructuration aussi complexe que dilutif et jugé trop favorable aux créanciers aux dépens des anciens actionnaires. Sept administrateurs indépendants sont proposés par ladite association qui demande en outre la révocation de cinq administrateurs sortants : Robert de Metz, Jean-Pierre Remy, Cécile Moulard Rémy Sautter et, Jean-Marc Tassetto.
Proxinvest soutient pleinement la démarche de cette association, le comportement anti-actionnarial de cette société étant inexplicable.
Solocal Group SA is a France-based company, which is engaged in local online communication. The Company provides digital content, advertising solutions and transactional services that connect people with local businesses. Solocal Group SA operates in France, Spain, Austria and the United Kingdom and supports the online development of SMB and client accounts, mainly through its four flagship brands: PagesJaunes (engaged in local advertising and information on the Internet and in mobile and print media), Mappy (a portal of services relating to travel: maps, journey planners, local area information searches, before and during the journey), Ooreka (a database of content with practical guides, tutorials, among others, written by such specialists as notaries, lawyers, doctors, electricians and gardeners, among others.
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.
General: Supervisory Board member Prof. Dr. Theo Siegert is a member of the Adivsory Committee of DSW, the local partner of ECGS. This report has been prepared using standard ECGS guidelines. Item 1: Unlike at German stock corporations, shareholders of a KGaA are legally required to vote on the annual accounts. Item 5: In financial year 2018, the Supervisory Board of Henkel Management AG, in line with recommendations of the Shareholders' Committee's Human Resources Subcommittee, decided to adopt various changes to the Management Board members' remuneration system, applicable as of financial ...
Strong increase in dividend following high results during the year under review. Clear compliance statement with the Corporate Governance rules defined by the Budapest Stock Exchange. Interesting governance model made of three bodies : an executive Board, a Board of Directors and a supervisory board. However, ECGS guidelines are not fully satisfied : - no yearly vote on executive remuneration ("Say On Pay")- Lack of checks and balances (combined chairman-CEO, independence of the Board of Directors, participation of the chairman-CEO in the Governance and remuneration committee).
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