Etude de l'AG du 29/06/2017
Cette année encore, Proxinvest souligne le manque de transparence propre à la politique de rémunération du Président Directeur Général, Benjamin Gonzalez. Si les montants sont corrects, la société n'explique pas quels sont les conditions de performance de la rémunération variable, ce qui rend difficile pour l'actionnaire de comprendre le niveau d'exigence de cette politique de rémunération. Par conséquent, Proxinvest recommande l'opposition à la résolution 6.
Par ailleurs, nous regrettons le maintien des autorisations d'augmentations de capital en période d'offre publique (résolutions 12 à 15), ainsi que l'autorisation d'émission de bons bretons, spécifiques aux périodes d'offre publique (résolution 18). De telles autorisations peuvent se révéler être des mécanismes de défense pour l'entreprise, qui mettent à mal le bon fonctionnement du marché et qui ne sauraient donc pas favorables à l'intérêt des actionnaires. Nous recommandons l'opposition pour l'ensemble de ces résolutions.
Metabolic Explorer SA. Metabolic Explorer SA is a France-based biological chemistry company that specializes in the development of bioprocesses for the production of chemical compounds used in a range of products, such as textile fibers, paints, solvents, animal feed supplements and adhesives, among others. Metabolic Explorer SA offers chemicals, such as Glycolic acid, L-Methionine, MPG (1.2 Propanediol) and PDO (1.3 Propanediol). The Company markets its products mainly for three families of industrialists: Manufacturers of agro-resources, Existing producers of chemical compounds and Manufacturers employing chemical compounds. In addition, the Company is engaged in the research and development works and runs its own laboratory to develop micro-organisms.
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.
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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.
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