Koninklijke KPN - EGM 10 September 2020
ECGS notes that, due to the COVID-19 pandemic, shareholders are strongly advised not to attend the meeting in person, but to make use of the alternative means to participate that KPN offers, including a webcast, voting by proxy and submitting questions prior to the meeting.
Under ITEM 3 it is proposed to newly appoint Mr. Alejandro Douglass Plater as Member of the supervisory board.
ECGS notes that, Mr. Douglass Plater has been designated for this appointment by major shareholder América Móvil (16.1% interest as of financial year-end) pursuant to specific arrangements in relation to the shareholding of América Móvil in KPN. Mr. Douglass Plater will succeed Mr. Mr. Carlos García Moreno Elizondo as América Móvil’s representative on KPN’s supervisory board.
Consequently, Mr. Douglass Plater would NOT qualify as independent board member in accordance with provision 2.1.8 of the Dutch Corporate Governance Code. The independence ratio on the board will under normal circumstances be 88%, indicating that there is sufficient independent representation. Since ECGS has no other concerns over his appointment it recommends to vote FOR.
Koninklijke KPN is an integrated information and communications technology service provider. Co. provides its consumer customers data broadband services, IPTV services, mobile (voice, data and SMS) and fixed line telephony. Co. provides its business customers broadband services, mobile, fixed line and data services. Co. operates in the following segments: Consumer Mobile, which provides mobile services and products; Consumer Residential, which provides services in and around the house; Business, which provides fixed and mobile telephony services; NetCo, which includes fixed wholesale services; Belgium, which provides mobile telephony; and iBasis, which provides wholesale network services.
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