Raiffeisen Bank International - AGM 20 October 2020
Warning: The AGM is to be held in the form of a virtual AGM in accordance with the Austrian COVID-19 Company Law Act and COVID-19 Company Law Regulation. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by granting authority to the special proxies designated by the Company.
Item 4: We recommend to oppose the discharge of the Supervisory Board due to repeatedly insufficient attendance of Board members at Supervisory Board meetings.
Items 6a-6d: We recommend to oppose the (re-)election of all candidates proposed to the Supervisory Board due to insufficient independent representation on the Board.
Item 9: We recommend to oppose the requested authority to repurchase shares for trading purposes as this authorisation permits shares to be repurchased at a premium of 100% to market price in certain circumstances which exceeds our guidelines.
Item 12: The Company proposes various amendments to the Articles of Association in a bundled resolution. We consider parts of the proposed amendments as being detrimental to shareholders and recommend to oppose the whole agenda item.
Raiffeisen Bank International is a universal bank focusing on corporate and retail customers in Central and Eastern Europe (CEE) and on corporate customers in Austria. In CEE, Co. consists of a network of banks, leasing companies and financial service providers. In Austria, Co. is involved in corporate finance and export and trade finance banks. Co. provides services to customers in 2,800 branch offices. In the retail banking business, Co.'s product and service portfolio comprises inter alia credit services (mortgages, credit cards and personal loans), as well as payment transaction and current account package services. As of Dec 31 2014, Co.'s total assets amounted to Euro121.6 million
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