Icade – AGM 24 April 2020
ITEMS 9 to 12: The Board does not comprise a majority of independent members and the principal shareholder, CDC, sits on the Board; therefore, the 3 nominees representing CDC proposed for appointment at this meeting are not supported.
ITEMS 14 and 16: As last year, the company does not disclose the amount of the fixed compensation to be awarded to the Chairman of the Board in 2020. However, most remuneration policies for executive or non-executive directors in the SBF 120 specify this basic remuneration information. The company therefore does not comply with market practices. Given the lack of disclosure of this information, it is not possible to estimate whether the amount to be awarded will be in line with practices. This policy is unchanged from the previous one. The rejection of the resolution14 would therefore have no effect. We therefore support the absence of negative changes and recommend the approval of this resolution 14.
The only way to obtain a review of this compensation policy by the Board is to reject resolution 16, which we recommend.
Icade is a property developer/real estate investment trust (REIT). Co. offers its clients and business partners a range of complementary products and expertise in the development, design, contracting, marketing, and administrative and technical management of their properties. Co.'s activities are segmented into three divisions: Property Investment, Property Development, and Services. Property Investment focuses especially energy, water, waste and carbon comprises significant properties; Property Development targets properties and operations whose service orders were launched during the year, and Services division manages office buildings and housing units on behalf of third parties.
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