Report
Jehanne Leroy

Proxy Report - 05/06/2018

Proxinvest attire l'attention des actionnaires sur plusieurs points.

Tout d'abord le changement de direction avec le départ de M. Roche de ces fonctions de Président Directeur Général et avec l'arrivée pour le remplacer de M. Rudow. Ce changement de direction n'a pas débloqué d'indemnité de départ ou d'arrivée ce que Proxinvest apprécie.

Ensuite Proxinvest regrette que le conseil soit encore majoritairement non indépendant avec seulement 2 membres libres d'intérêts sur les 5 membres du conseil.

Underlying
Recylex S.A.

Recylex specializes in recycling. Co.'s activities include recycling lead and plastic, recycling zinc from particles from electric steel mill dust, and producing zinc oxides and special metals for the electronics industry. Co.'s operations can be divided into five main segments: Lead (battery breaking activities and primary smelting and secondary smelting activities), Zinc (recycling of steelwork particles and recycling of zinc-bearing waste), Special metals (custom production of very-high-purity metals), Plastics (recycling of plastic materials), and Other businesses (rehabilitation of former industrial and mining sites in France and Germany). Co. operates in France, Germany and Belgium.

Provider
Proxinvest
Proxinvest

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. 

Analysts
Jehanne Leroy

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