Report
Florian Béchaz
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Touax SCA 24 juin 2019

Si l'attribution de bons de souscription d'actions aux salariés ne pose pas de problème particulier, en revanche, l'attribution de tels instruments de rémunération sans condition de performance n'est pas acceptable. Or, les résolutions 11 et 12 proposant l'attribution de BSA aux associés commandités ne mentionne aucune condition de performance. Elles ne seront donc pas soutenues.

De plus, Proxinvest n'est pas favorable aux sociétés en commandites par actions. En effet, cette forme juridique permet par exemple le versement d'un dividende pour les associés commandités. Dans le cas présent, ce dividende représente plus de 250 000 €. Ce versement est regrettable alors même que les actionnaires ne disposent pas, depuis plusieurs années, de dividendes.

Underlying
Touax S.A.

Touax is engaged in leasing mobile and standardized equipments. Co. manages its own equipments and equipments for third-party investors, providing third-party management through its four core businesses. Through the Shipping containers business, Co. leases standard dry containers. Through the Modular buildings business, Co. provides modular buildings for offices, schools, hospitals, and site accommodation. Through the River barges business, Co. provides river barges for leasing and transporting dry bulk cargoes. Through the Freight railcars business, Co. provides freight railcars for railways and industrial groups. Co. operates geographically in Europe, the U.S. and Rest of the World.

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.

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Analysts
Florian Béchaz

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