Aggreko – AGM 23 April 2020
In general, Aggreko is in compliance with the British regulations relating to the organization and procedures of the Annual General Meeting.
Covid-19 and dividend update
On 23 March 2020, the Board has decided to withdraw the recommendation to pay the final dividend of 18.27 pence per share. In addition, ECGS recommends to OPPOSE to the authorization to repurchase shares (ITEM 19).
ITEM 2: Directors' Remuneration Report
The Company seeks shareholder approval of the Directors'Remuneration Report. ECGS notes that performance shares (LTI) granted at 272% of base salary exceeded our 150% limit. Total variable remuneration was 344% of the base salary which is above our limit of 300%. Furthermore, the total remuneration exceeds the median of the Industrial Goods and Services sector in the MSCI. In addition, there is an overlap between the only two metrics used in the short and long term incentives. Accordingly, we recommend to OPPOSE.
Aggreko is a provider of modular, mobile energy services and related solutions. Co. is organized into two business units: Rental Solutions and Power Solutions. The Rental Solutions segment provides power, heating and cooling to customers in developed markets. This segment includes Co.'s businesses in North America, Europe, Australia Pacific and Mexico. The Power Solutions segment provides power, heating and cooling to emerging markets. This segment includes all Co.'s other businesses around the world.
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