Anheuser-Busch Inbev – AGM 3 june 2020
AB InBev Revises its Dividend Proposal and Reschedules its Annual Shareholders'Meeting
The Company has rescheduled the ordinary and extraordinary shareholders'meeting to 3 June 2020. All resolutions proposed for the meeting originally scheduled for 29 April 2020 will be set on the agenda of the Rescheduled Meeting, except that the statutory annual accounts that will be presented for approval will reflect the interim dividend of EUR 0.80 per share that was paid in November 2019, plus the revised proposed final dividend of EUR 0.50 per share.
ANNUAL GENERAL MEETING
Overall, Anheuser-Busch Inbev ("AB InBev") is compliant with the Belgian regulations, relating to the organization and procedures of the Annual General Meeting.
Due to a lack of independence on the board (33%), ECGS recommends to vote OPPOSE to the re-election of the non-independent Directors: Alexandre Van Damme (ITEM 8c), Grégoire de Spoelberch (ITEM 8d), Paul Cornet de Ways Ruart (ITEM 8e), Paulo Lemman (ITEM 8f), María Asuncion Aramburuzabala (ITEM 8g), Martin J. Barrington (ITEM 8i), William F.Gifford(ITEM 8j), Alejandro Santo Domingo Dávila (ITEM 8k).
For the same reason ECGS recommends to vote OPPOSE to the election of M. Roberto Thompson Motta, representing the Reference shareholder (ITEM 8h).
In ITEM 9, the board of directors seeks approval of the Company's remuneration report. ECGS has concerns over excessive payments and deems the level of executive compensation at AB InBev significantly above Belgian market standards. Furthermore, ECGS does not approve long term incentive plans that do not operate one or more challenging performance conditions. Therefore, we recommend shareholders to OPPOSE.
Concerning the EXTRAORDINARY GENERAL MEETING, no underlying concern has arisen.
Anheuser-Busch Inbev is engaged in the brewing of beer. Co. manages a portfolio of well over 200 brands that includes brands such as Budweiser, Stella Artois and Beck's; multi-country brands such as Leffe and Hoegaarden; and other brands such as Bud Light, Skol, Brahma, Quilmes, Michelob, Harbin, Sedrin, Klinskoye, Sibirskaya Korona, Chernigivske and Jupiler. Co. also produces and distributes soft drinks, particularly in Latin America. Co.'s operations are organized along seven business segments: North America, Mexico, Latin America North, Latin America South, Europe, Asia Pacific and Global Export & Holding Companies.
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