Exel Industries - Assemblée Générale Mixte des actionnaires du 12 Mars 2020
Le montant des rémunérations ex-post des dirigeants ne sont pas excessifs, mais l'absence de communication concernant les rémunérations variables annuelles ne permet pas à Proxinvest de soutenir les résolutions 9, 10 et 12. De plus, comme l'année précédente, la politique de rémunération des mandataires sociaux pour l'exercice à venir ne communique pas les montants fixes. Ceci constitue un manquement que Proxinvest sanctionne par une recommandation négative en résolution 7.
La société propose la nomination de Cyril Ballu, Directeur Général Délégué du groupe, et membre de la famille Ballu détenant 86,18% des droits de vote.
Proxinvest regrette la nomination d'un administrateur n'améliorant ni le taux d'indépendance (14% de membres indépendants) ni de diversité du conseil (29% de femmes), et recommande donc l'opposition à la résolution 14.
La société propose d’importantes autorisations d’augmentation de capital (371% du capital actuel) sans qu’aucun projet spécifique d'acquisition ne soit annoncé pour justifier cette autorisation. L'ampleur de l'augmentation de capital ici proposée modifierait significativement le profil du groupe et nous préférerions alors une approbation spéciale en AGE avec présentation du projet financier et stratégique.
EXEL Industries designs and manufactures precision spraying equipment that it markets to three markets: farming, industry and consumers. Co. organizes its operations into two divisions: Plant Protection (manufactures professional, semi-professional and consumer agricultural spraying equipment for plant protection; plant health products sprayed include herbicides, insecticides, fungicides, liquid fertilizers and other products) and Material Protection (supply of material protection products in two different areas: paint and viscous industrial product application equipment; and elimination of dust and odors).
Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.
Proxinvest main services are :
- Proxy reports
- Definition and monitoring of client customized voting guidelines
- Corporate Governance Data and Rating
- Thematic research
- Engagement support
Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.
Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.
As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.