1. To approve guaranteed payouts to Karen Byers and Sean Nevitt under the Executive Bonus Share Scheme
Shareholders are asked to approve the extension of the guaranteed minimum value for employees participating in the Company’s bonus share scheme to executive participants. The only executive participants currently employed by the Company are Karen Byers and Sean Nevitt. The Company has not presented any justification for the inclusion of these executives in the guaranteed payouts nor for the guaranteed payouts.
Well-designed incentive pay should serve to align executives’ interests with shareholders’ interests and, in the case of long term incentive plans such as this, with the long-term sustainable success of the company. A minimum guaranteed payout does not serve to incentivize executives and, indeed, can not be considered performance-based pay.
2. To approve payment of £11,029,296.20 to John Ashley
Shareholders are asked to approve a cash back-payment to John Ashley with respect to perceived underpayment for his service as an employee of the Company from IPO in 2007 to his departure from the Company in 2015. We strongly condemn what is essentially “back pay” for a family member. This is a glaring example of the expropriation of minority shareholders. Making matters worse is the fact that the Company’s LTIP did not sufficiently link pay to performance (especially back in 2015 when John Ashley was still employed with the Company). Most importantly, these payments are far from transparent and are clearly not in the best interest of shareholders.
Sports Direct International is a sporting goods retailer operating in the U.K., Europe, the U.S. and Asia. Co. operates in four segments: U.K. Sports Retail, which includes the U.K. retail network of sports stores along with related websites; International Sports Retail, which includes the international retail network of sports stores; Brands, which includes Co.'s portfolio of brands such as Everlast, Lonsdale and Slazenger; and Premium Lifestyle, which includes the premium and lifestyle retail businesses such as USC, Cruise and Flannels. As of Apr 30 2017, Co.'s U.K. sports store portfolio had a total of 468 stores and its international sports store portfolio had a total of 289 stores.
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FRASERS GROUP PLC. (GB), a company active in the Apparel Retailers industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 2 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date May 15, 2020, the closing price was GBp 244.00 and its potential was estimated at GBp 336.32.
Feasibility Study Results in December to be a Catalyst for this Junior
The new Nike link up takes SPD into new territory in our view and supports international scalablity theories. We are not sure how significant it will be in forecasting yet as it is based around the space elevation programme which still appear small in the overall context. We also need to see the company show signs of Walking the Walk after previous strategic false-starts.
ECGS notes that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person. In general, Prosus is in compliance with the Dutch regulations relating to the organization and procedures of the AGM. Under ITEM 2 an advisory vote on the Company’s executive remuneration report is requested. ECGS notes that the total variable salary granted in the year under review, corresponding to 1062% of annual base salary, exceeds the maximum threshold under its guidelines. Accordingly, ECGS recommends to vote OPPOS...
The general meeting is convened to approve a sale of Direct Energy, Centricans North American energy supply, services and trading business, to NRG Energy for $3.625 billion in cash (equivalent to approximately £2.85 billion) on a debt free, cash free basis. We agree that the proposed cash offer is reasonable considering the current market circumstances and the group’s needs in urgent action in light of the Covid-19 impact on earnings and unbearable indebtedness. The disposal of Direct Energy will simplify the group’s structure and will allow focusing on a new strategy enabling the transition t...
Le rapport spécial des commissaires aux comptes ne comporte aucune convention, ni nouvelle, ni ancienne. L'absence de conventions au rapport spécial est, sauf opéra on non signalée aux commissaires aux comptes, le signe d'une bonne autonomie du projet de l'entreprise et d'une meilleure intégrité économique du groupe, surtout pour un groupe familial (résolution 4). Proxinvest estime que le taux d'indépendance du Conseil est très insuﬃsant (23%). Notons toutefois qu'André Delion, membre libre de conﬂits d'intérêts potentiels, assure désormais la présidence du Conseil depuis le 22 août 2019.Quan...
ECGS notes that as a result of the Covid-19 pandemic the AGM will be held as an electronic meeting only. Consequently, it will not be possible to attend the AGM in person. In general, Prosus is in compliance with the Dutch regulations relating to the organization and procedures of the AGM. Under ITEM 2 an advisory vote on the Company’s executive remuneration report is requested. ECGS notes that the total variable salary granted in the year under revie