Report
Charles Pinel
EUR 492.40 For Business Accounts Only

Etude de l'AG du 28/04/2017

A la demande de la Financière Sémaphore, principal actionnaire de la société, la société a modifié l'ordre du jour le 12 avril 2016 en ajoutant 3 résolution numérotées 8 à 10 qui ont été approuvées par le conseil d’administration.

Aucun changement n’est apporté au conseil qui demeure majoritairement composé de membres non-libres de conflits d’intérêt et ne compte aucune femme. Tout comme l’année dernière, Proxinvest déplore le manque d’information concernant le fonctionnement du conseil.

Nous regrettons que le quitus aux administrateurs et au commissaire aux compte (réviseur d'entreprise), obligatoire au Luxembourg, soit dans la même résolution que l'approbation des comptes. Il constitue une opportunité aux actionnaires d'exprimer leur regret de l'absence de résolution sur la rémunération des dirigeants. Par conséquent nous recommandons l'opposition à la résolution 2.

L’enveloppe de jetons global annuel autorisé est de nouveau proposée à la baisse. Désormais la rémunération potentiellement attribuable à chaque membre du conseil d'administration est en ligne avec les sociétés à capitalisation proche. Nous soutenons donc la résolution 5.

Underlying
Sword Group

Sword Group is a service company specializing in computer engineering, offering consulting and integration services to its customers. Co. is engagedin the implementation of innovative solutions that meet the strategic needs of its clients and adaptation requirements of their information systems. Co.'s business covers three main areas: IT Service, Solutions and Communication Technologies. In addition, Co. also provides Government Risk Management (GRC) solutions to its customers in the industries of energy, transportation, healthcare, insurance, banking, telecommunications, and international and governmental organizations. Co. offers two product lines and four solutions.

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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