Basic-Fit – AGM 22 April 2020
In general, Basic-Fit is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting.
ITEM 3b: Approval of the remuneration report is sought. We are concerned that the maximum LTI award is not disclosed and that the total remuneration is predominantly fixed. Furthermore, we are concerned that the majority of variable bonus is short-term. Although the absoulte amounts seem to be acceptable we therefore OPPOSE the remuneration report.
ITEM 4a: Approval of the remuneration policy is sought. ECGS has concerns over the level of transparency regarding the Company's executive remuneration policy and it does NOT approve that the variable remuneration is forming a relatively low part of the overall remuneration on target. Given our concerns about the structure, we recommend to vote OPPOSE.
There are no further peculiarities.
Basic-Fit NV is an operator of fitness centers based in the Netherlands. The Company operates more than 350 fitness clubs in the Netherlands, Belgium, France and Spain.
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