SES, April 04th 2019
ITEM 9: the company still refuses to disclose the individual remuneration amounts of its executives while it complies with some governance rules for companies listed in Paris (where the majority of its Fiduciary Deposit Receipts, "FDR", are traded). It is not understandable that a company, aware of the French practices and applying some of them, deliberately chooses to ignore some of the basic fair governance and fair disclosure principles.
However, we note that the Shareholders Rights Directive II ("SRD II") must be transposed by June 2019. SRD II states "Member States shall ensure that the company draws up a clear and understandable remuneration report, providing a comprehensive overview of the remuneration, including all benefits in whatever form, awarded or due during the most recent financial year to individual directors, including to newly recruited and to former directors" (article 9b).
SES is engaged as a provider of satellite-delivered services. As a strategic management company, Co. operates through a unique network of leading satellite operators around the world. This network comprises the fully-owned SES ASTRA in Europe and SES AMERICOM in the U.S., as well as participations in regional satellite operators. SES ASTRA is European direct-to-home satellite operator. SES AMERICOM operates a fleet of 17 satellites serving the Americas, Europe and the Asia-Pacific region. AsiaSat provides transponder capacity for broadcast, broadband and telecommunications services in the Asia-Pacific region.
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