In general, Vestas is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting.
Under ITEM 4.2a, it is proposed to re-appoint Mr. Bert Nordberg as Chairman of the board of directors. Although he is considered independent, ECGS notes that Mr. Nordberg is currently chairing the Company's nomination- and remuneration committee, which is not in accordance with its guidelines. ECGS furthermore notes a lack of female representation (25%) on the board and based on its guidelines the re-election of the chairman of the nomination committee is the most appropriate agenda item to express such concerns. Based on the above, ECGS normally would have recommneded opposition. However, considering that the proxy card does not permit this, it recommends abstention instead. ECGS furthermore has concerns over the aggregate time commitments of Mr. Carsten Bjerg (ITEM 4.2c), proposed new nominee Ms. Eva Berneke (ITEM 4.2d) and Mr. Henrik Andersen (ITEM 4.2f). Therefore, ECGS normally would have recommended opposition. However, considering that the proxy card does not permit this, it recommends abstention instead.
Under ITEM 6, the board of directors proposes to re-appoint PricewaterhouseCoopers as the Company's statutory auditor. In light of the substantial amount of non-audit fees as well as the current term in office of the auditor, ECGS normally would have recommended opposition. However, considering that the proxy card does not permit this, it recommends abstention instead.
Finally, under ITEM 7.2, the board of directors seeks authorisation to repurchase own shares. Although the requested authority as such meets its guidelines, ECGS notes that the Company uses "per share" performance conditions and does not state whether the impact of these share repurchases will be neutralized. As Vestas has a history of share buybacks, ECGS cannot rule out the possibility that executive compensation has been impacted. ECGS therefore recommends to vote OPPOSE.
Vestas Wind Systems is an industrial machinery and equipment manufacturing company based in Denmark. Co. is engaged in the production of wind turbines. Co.'s main activities comprise development, manufacture, sale, marketing and maintenance of installations that use wind energy to generate electricity. Co. supplies products, from individual turbines to the delivery of turnkey wind power installations globally. Co. supplies guidance services to its customers in connection with the development, financing and ownership of wind turbine projects. Co.'s main customers are utilities and energy companies.
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A director at Vestas Wind Systems sold after exercising options/sold 26,700 shares at 561.020DKK and the significance rating of the trade was 82/100. 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...
The independent financial analyst theScreener just requalified the general evaluation of VESTAS WINDSYSTEMS A/S (DK), active in the Renewable Energy Equipment industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date May 14, 2019, the closing price was DKK 559.00 and its target price was estimated at DKK 498.72.
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.
Nous tenons à attirer l'attention des actionnaires sur les manquements suivants : La Société n'est pas suffisamment transparente sur la rémunération. En effet, la rémunération totale que Proxinvest considère est de 594 000 €, alors que la rémunération totale selon la société est de 24 000 €. Les informations relatives aux membres du Conseil restent trop sommaires. La société pourrait davantage présenter les membres de son Conseil, notamment en faisant apparaitre les biographies, ce qui permettrait d'avoir une meilleure lisibilité. De manière générale, la Société n'est pas assez transparente...
La société a vécu une année difficile en termes de rentabilité, avec une perte nette de 3,3 M€ sur un chiffre d’affaires consolidé de 12.5 M€. Néanmoins, après l’augmentation de capital de 37 M€ réalisée en 2018, la société présente une situation financière solide, avec 35 M€ de trésorerie nette destinée à la croissance. La société propose à ses actionnaires de renouveler l'ensemble de ses délégations financières. Proxinvest n'en soutient quasiment aucune car elles portent toutes sur des montants très élevés et sont toutes utilisables en période d'offre publique. La société a proposé égaleme...
In item 6, we recommend opposing the authorization to increase the share capital by up to 50%, as the authority includes the power to exclude pre-emptive rights in connection with 20% of the share capital, exceeding ECGS' voting policy limit of 10%. In item 7, we also recommend opposing the authorization to reduce the minimum advance notice period for calling an EGM from 30 to 15 days, because it would strongly limit the time for foreign shareholders to adequately inform, analyse the resolutions and cast their votes through the custodian chain. In item 8.3, the Board proposes to appoint Ms. ...
On 5 November 2018, Chairman and Chief Executive Officer Philippe Lazare was replaced by Nicolas Huss as Chief Executive Officer and Bernard Bourigeaud as Chairman of the Board. The functions of Chairman and Chief Executive Officer are now separated. This change leads to approval of the cooptation and appointment of Nicolas Huss to the Board of Directors (resolutions 7 and 8). The Board's high level of independence (67%) also allows us to support the other five appointments and renewals of directors (resolutions 9 to 13). REMUNERATION The remuneration due to Philippe Lazare for 2018 wil...
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