Ageas – EGM 18 April 2020
Referring to past experience, ECGS draws shareholders' attention on the fact that this EGM will not attain the required attendance quorum ±i.e. that at least 50% of the capital must be represented ±and that thus no valid decisions will be made during this meeting.
Concerning item 2, we appreciate the company's willingness to adapt its articles of association to the new Belgian Companies and Associations Code. We therefore fully approve the requested changes.
Under item 3, the board of directors seeks authorisation to repurchase own shares. ECGS notes that the maximum (re-)purchase price is above 10% of market price on purchase date, which is not in accordance with ECGS' guidelines. Therefore recommends to OPPOSE.
Ageas is an insurance company engaged in providing a range of life and non-life products distributed through a variety of channels. Co. focuses on helping its customers to mitigate risks related to property, casualty, life and pensions. Co. serves its customers through a combination of wholly owned subsidiaries, equity associates and partnerships, with financial institutions and distributors in Belgium, the U.K., Luxembourg, Italy, Portugal, Turkey, France, China, Malaysia, India, Thailand and Hong Kong. Co. is organized into five operating segments: Belgium, U.K., Continental Europe, Asia, and General Account.
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