In general, Chr. Hansen is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting.
Under ITEM 6a it is proposed to re-appoint Ms. Dominique Reiniche as Chairman of the board of directors. Although she is considered independent, ECGS has concerns over her aggregate time commitments. Ms. Reiniche is serving as chairman of the board of directors of Chr. Hansen Holding A/S (listed) and Eurostar International Limited (substantial non-listed company) and non-executive director of Severn Trent plc and Mondi plc (both listed), which exceeds ECGS¶guidelines. Therefore, ECGS normally would have recommended opposition. However, considering that the proxy card does not permit this, it recommends abstention instead.
There are no further peculiarities.
Chr. Hansen is a biosciences group based in Denmark. Co. develops and supplies natural ingredient solutions for the food, pharmaceutical, nutritional, and agricultural industries worldwide. Co. operates in three divisions: Cultures and Enzymes (develops, produces, and sells cultures, enzymes, and probiotics for the food and dairy industries); Health and Nutrition (develops products for the dietary supplement, over-the-counter pharmaceutical, infant formula, and animal feed industries); and Natural Colors (develops natural color solutions to the food industry, primarily for the beverage, dairy, confectionery, fruit preparation and ice cream, as well as functional blends for processed meats).
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A director at Chr.Hansen Holding AS sold 4,000 shares at 699.052DKK and the significance rating of the trade was 72/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names o...
La société convoque cette assemblée pour nommer deux nouveaux membres au sein de son conseil. Tout d'abord la société propose de nommer Tony Parker. Depuis plus d'une année, la presse indique un rapprochement entre l'ASVEL (équipe de basket de Lyon, détenu par Tony Parker) et le groupe Olympique Lyonnais. Ainsi d'après ces sources journalistiques, le Groupe OL aurait acquis plus de 30% du capital de la société ASVEL. La seconde nomination concerne Anne-Laure Julienne-Camus, qui est la directrice financière du Groupe Pathé. Ce groupe est le troisième actionnaire du Groupe Olympique Lyonnais. ...
L'année 2019-2020 aura été marquée par une séparation des fonctions de Président et de Directeur Général. Cette sépération des pouvoirs de contrôle et de direction est appréciable. Face à l'impact de la crise sanitaire, dont les conséquences sont encore difficilement quantifiables, Proxinvest recommande l'approbation de l'affectation du résultat (résolution 3). Les politiques de rémunération du Président, Directeur Général et Directeur Général Délégué pour l'exercice 2020-2021 permettent l'attribution de montants potentiellement excessifs (résolutions 5, 6 et 7).
Restructuration : Les résolutions 15 à 23 sont relatives à la restructuration financière ; elles forment un tout interdépendant.C’est la 3e fois en 6 ans que la société fait appel à ses actionnaires afin de se recapitaliser/restructurer sa dette. Et, malgré le fait qu’une majeure partie de l’opération se fasse avec maintien du DPS, la dilution des actionnaires est, cette fois encore, très grande. L’opération permettrait ainsi un désendettement partiel de Solocal, mais l’effort d'apport d'argent frais demandé aux actionnaires est encore une fois colossal sans qu'il y ait abandon significatif de...
Item 2: Final dividend The proposed increase in dividend raises several concerns: the dividend is neither covered by FCF nor by EPS. The increase in the dividend is not justified by the group's results. We do not consider sustainable the dividend distribution exceeding the earnings for several consecutive years. Given the recent events relating to Covid-19, ECGS is in favour of postponing decisions on the dividend, reductions or suspensions that would allow companies to avoid liquidity risks or not generate risk for their survival. We also see no reason to increase the dividend while at the s...
The 2019-2020 financial year will have been marked by the departure of Mrs. Valérie Chapoulaud-Floquet as Chief Executive Officer (CEO) on November 30, 2019. She has been replaced by Eric Vallat. Item 10: The appointment of Mazars to replace the firm Auditeurs et Conseils Associés as statutory auditor seems appropriate to us insofar as the firm Auditeurs et Conseils Associés had been the statutory auditor for 30 years, which greatly exceeds our maximum of 15 years (in France: 3 successive mandates, i.e. 18 years) aiming at a better rotation of statutory auditors. Items 11, 12 and 14: The rem...
General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by postal vote or by granting authority to the proxies designated by the Company. Item 2: Management and Supervisory Board are proposing that the distributable profit reported in the annual financial statements for the financial year 2019 in a total amount of EUR 828,030,120.54 be fully carried forward to new acco...
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