Etude de l'AG du 03/05/2017
In general, Securitas is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting.
Under ITEM 11, the Nomination Committee seeks approval for the remuneration of the Board of Directors. As we do not approve of such significant increases without adequate justification, we recommend opposition.
Under ITEM 12, the (re-)election of the Board of Directors is proposed. In light of insufficient independent representation on the Board we recommend opposition.
Under ITEM 13, the re-election of the Company's statutory auditor is proposed. Since we do not approve of both, the level of non-audit fees as well as the current term in office of the auditor, we recommend opposition.
Under ITEM 14, it is proposed to establish a(n) (external) nomination committee. Like several international institutional investors, ECGS has concerns over the bundled form under which the election of directors is put to shareholders vote in Sweden. We therefore have decided to take above mentioned concerns (if applicable) into account and express these at the resolution on the nomination committee, since in Sweden said committee is responsible for nominating candidates to the board of directors (either in bundled or unbundled form). As the election of the board of directors is proposed as a slate (bundled) at this year's AGM, we recommend opposition to the establishment of the nomination committee.
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