Items 3 and 4: To authorise the directors to determine the remuneration of the auditors and to approve the continuation of Deloitte as auditor
Average non-audit fees incurred over the last three years were 158.8% of audit fees, which is above our limit of 50%. These fees are considered excessive and may undermine auditor independence. We recommend that shareholders oppose these resolutions.
Item 7: Approve the Remuneration Policy
The cap on salaries and allowances in the amount of €500,000 (plus pension contributions of 20%) will continue to apply. This cap was implemented due to the recapitalisation of AIB by the Irish Government in 2010 and 2011.
Last year, an incentive plan was proposed, but the Minister for Finance of Ireland, which owns 71% of the share capital, voted against the plan. The Irish state is reviewing remuneration across banks impacted by the pay cap. The remuneration committee may propose changes to the structure following this review. Though incentive pay could better align executives' interests with shareholders' interests, there is a clear justification for the absence of incentive plans at the current time. We recommend shareholders vote in favor.
AIB Group is a financial services group operating predominantly in the Republic of Ireland and the United Kingdom. Co. provides a comprehensive range of services to personal, business and corporate customers. Co.'s operations are organized along three key segments: AIB Ireland (comprises Personal, Business and Corporate Banking); AIB UK (comprising Allied Irish Bank which offers full banking services to predominantly business customers across Great Britain; and First Trust Bank which offers full banking services to business and personal customers across Northern Ireland); and Group & International (syndicated and international lending in the United States of America and Europe).
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Important Notice - COVID-19 Due to the current COVID-19 crisis, AIB has put in place new arrangements: the proceedings will therefore be conducted via a live conference call from the bank's headquarters, No 10 Molesworth Street, Dublin 2. Full details concerning the conference call details can be found on the Company's website, under Shareholder Information, 2020 AGM, or on the following link: ''Important Notice "COVID-19". Covid-19 and dividend update On 27 March 2020, the Board announced its decision to withdraw its recommendation to pay the final dividend of €0.08 cent per share...
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Le rapport spécial des commissaires aux comptes ne comporte aucune convention, ni nouvelle, ni ancienne. L'absence de conventions au rapport spécial est, sauf opéra on non signalée aux commissaires aux comptes, le signe d'une bonne autonomie du projet de l'entreprise et d'une meilleure intégrité économique du groupe, surtout pour un groupe familial (résolution 4). Proxinvest estime que le taux d'indépendance du Conseil est très insuﬃsant (23%). Notons toutefois qu'André Delion, membre libre de conﬂits d'intérêts potentiels, assure désormais la présidence du Conseil depuis le 22 août 2019.Quan...
ECGS notes that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person. In general, Prosus is in compliance with the Dutch regulations relating to the organization and procedures of the AGM. Under ITEM 2 an advisory vote on the