Meggitt – AGM 23 April 2020
In general, Meggitt is in compliance with the British regulations relating to the organization and procedures of the Annual General Meeting.
Covid-19 and dividend update
On 27 March 2020, the Board has decided that it is prudent to withdraw the recommendation to pay the final dividend of 11.95 pence per share. Consequently, the dividend resolution referred to in the notice of the Annual General Meeting will not be presented to the meeting. In addition, ECGS recommends to OPPOSE to authorization to repurchase shares (ITEM 19).
ITEM 2: Directors' Remuneration Policy
The Company seeks shareholder approval of the Directors'Remuneration Policy. ECGS notes that the CEO's maximum variable remuneration (both short-term and long-term) could reach 370% under normal circumstances (500% in exceptional circumstances), which exceeds our limit of 300% of the base salary. Accordingly, we recommend shareholders to OPPOSE.
Meggitt is the parent company of a group whose principal activities are the design and manufacture of components and sub-systems for aerospace, defense and other markets. Co. has five segments: Meggitt Aircraft Braking Systems, a providers of aircraft wheels, brakes and brake control systems; Meggitt Control Systems, which comprised of aircraft fire protection and control systems; Meggitt Polymers and Composites, which comprised of engine and aerodynamic seals, flexible fuel tanks and fuel systems; Meggitt Sensing Systems, a provider sensing and monitoring systems for aircraft; and Meggitt Equipment Group, which include unique heat transfer equipment for hydrocarbon processing.
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.