Etude de l'AG du 28/06/2017
Shareholders are asked notably for their approval on 7 different resolutions regarding the remuneration of the Company. We note that According to Book 2, Article 135 of the Dutch Civil Code, public companies in the Netherlands are not required to submit their remuneration policy to shareholders annually for approval. Rather they are required to submit their compensation policy to shareholders when there is a change in policy, as such the next time shareholders may be asked to approve the remuneration of the Company will come following a change in remuneration.
With respect to the remuneration for the past fiscal year, the Company’s disclosure is extremely limited aside from the amounts granted which in itself is not always clear as such we were unable to support the resolutions regarding remuneration. The new stock option plan (item 8.c) however, will include performance conditions going forward.
Finally, the Company has requested the authority to repurchase shares, and the authority to cancel those shares, however, given the large level of debt held by the Company at this time, we were unable to support these resolutions as well.
Altice Europe is a provider of cable, fiber, mobile, telecommunications, content and media in Western Europe (comprising France, Portugal, Belgium, Luxembourg1 and Switzerland), the United States of America (U.S.), Israel, the Dominican Republic and the French overseas territories (comprising Guadeloupe, Martinique, French Guiana, La Reunion and Mayotte). Through its various business operations, Co. provides fixed services, mobile telephony services (other than in the U.S.) and media and advertising services to B2C and B2B customers in all of the geographies in which it operates. In addition, Co. offers a variety of wholesale and other services.
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