In 2017, the Company (formerly DONG Energy) changed its name to Orsted. The name is a tribute to the Danish scientist H.C. Orsted, who (among other things) discovered electromagnetism.
In general, Orsted is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting.
Under ITEM 3, although not legally required in Denmark, the board of directors and the executive management seek discharge. Under its guidelines, ECGS no longer approves discharge of the board of directors and/or executive management if there is no legal requirement for it. Since there is no such requirement in Denmark, ECGS recommends to OPPOSE.
Under ITEMS 7.2-7.9, the (re-)election of the board of directors is proposed.
ECGS has concerns over the aggregate time commitments of Ms. Lene Skole (ITEM 7.3). Therefore, ECGS normally would have recommended opposition. However, considering that the proxy card does not permit this, it recommends abstention instead.
Finally, under ITEM 9, the board of directors proposes to re-appoint PricewaterhouseCoopers as the Company’s statutory auditor. In light of the substantial amount of non-audit fees, ECGS normally would have recommended opposition. However, considering that the proxy card does not permit this, it recommends abstention instead.
In September 2017, the Company divested its Oil & Gas business to UK-based INEOS plc, which completed Orsted's transformation from a Danish utility company based on coal, oil and gas to an international energy company based on green energy. The Company furthermore decided to phase out the use of coal by 2023.
Orsted is a renewable energy company based in Denmark. Co. is engaged in developing a renewables portfolio based on competences in offshore wind, bioenergy, and energy solutions. Co. is active in deploying offshore wind and converting existing coal- and gas-fired power stations to sustainable biomass, providing a heat and power supply which is both green and flexible. Co. divides its operations into four businesses: Wind Power, Bioenergy & Thermal Power, and Distribution & Customer Solutions. The Bioenergy & Thermal Power and Distribution & Customer Solutions businesses jointly constitute Co.'s Danish utility business. Co. maintains activities primarily in Northwestern Europe.
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La société propose une série de résolutions (14 à 19) en vue d'effectuer des augmentations de capital. Ces autorisations sont toutes maintenues en période d'offre publique. Ces autorisations peuvent dès lors constituer une arme forte de protection du capital, et Proxinvest s'oppose à toute autorisation d'augmentation de capital maintenue en période d'offre publique, en raison de leur possible utilisation comme dispositif anti-OPA. Nous recommandons donc l'opposition aux résolutions 14 à 19. Aussi, la communication de la société concernant la politique de rémunération du Président Directeur Gé...
La société propose de renouveler les 3 membres du Conseil. Le conseil ne compte aucun membre libre de tout conflit d'intérêt potentiel, ce qui n'est pas acceptable. Proxinvest attendra donc que le conseil propose la nomination de candidats administrateurs indépendant. Aussi, le taux de féminisation est nul, et de la même manière, Proxinvest attendra de la société une représentation plus équilibrée des hommes et des femmes au conseil. Nous recommandons donc l'opposition à la résolution 7. La société propose une série d'autorisations financières dans les résolutions 11 à 14. Celles-ci sont main...
Proxinvest attire l'attention des actionnaires sur plusieurs points. Tout d'abord le changement d'actionnariat a entrainé des modifications dans le conseil. Proxinvest apprécie le fait que la société propose des candidats indépendants au conseil. De ce fait l'ensembles des nominations, cooptations et renouvellements des résolutions 11 à 17 seront soutenues par Proxinvest. Ensuite Proxinvest s'oppose à la rémunération Ex-Post, de la directrice Générale puisque que cette dernière ne respecte pas notre politique de vote.
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. One of the major shareholders, Roland Oetker, is the former President and since 2008 the Honorary President of DSW, the local partner of ECGS. This report has been prepared using standard ECGS guidelines. Evotec was founded 19...
In general, Danske Bank is in compliance with the Danish regulations relating to organisation and procedures of the Annual General Meeting. Under ITEM 4f it is proposed to re-appoint Ms. Carol Sergeant as Vice Chairman of the board of directors. Although she is considered independent, ECGS does NOT approve of the re-appointment of any board members who were part of the board of directors at the time of the money laundering scandal in Estonia. Accordingly, ECGS recommends to vote OPPOSE. Under ITEM 7 authorisation is sought to repurchase own shares. Although the authority requested woul...
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 a dividend of EUR 1.10 per share (increased by 733.33% from EUR 0.15) which corresponds to a payout ratio of 53.40% per share (EPS: EUR 2.06). In view of the recent events rel...
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