Item 4: Approve the Remuneration Policy
While no concerns have been identified over the proposed changes to the remuneration policy, there are ongoing concerns over remuneration at the Company which have not been addressed. The remuneration structure is unsatisfactory. Both the bonus and the LTI are heavily reliant on qualitative criteria. Qualitative criteria determine 50% of the bonus and 33% of the LTI, which exceeds guidelines. The maximum bonus slightly exceeds guidelines, as does maximum potential incentive pay. Furthermore, the pension contribution of 40% of base salary exceeds ECGS guidelines’limit of 30% and benefits are consistently excessive. We recommend shareholders oppose.
Item 17: To reappoint KPMG LLP as auditor of the company
The auditor's tenure exceeds our tenure limit of 10 years. KPMG LLP and its predecessors have been the external auditors of the Company for over 25 years. A tender for audit services was last conducted in 2013, which resulted in the reappointment of KPMG LLP. However, the Company has undertaken a tender process for the audit contract for the year ending December 2020 which resulted in the recommendation to appoint Ernst & Young starting that year. Although the auditor's tenure exceeds our guidelines, a new auditor will be appointed for 2020 and non-audit fees are in line with our guidelines, we recommend that shareholders approve this resolution.
Standard Chartered is a holding company and an international banking group that serves people and companies across Asia, Africa and the Middle East. Co. comprises a network of more than 1,026 branches and outlets in 63 markets. Co.'s segments are: Corporate & Institutional Banking, which supports transaction banking, corporate finance, financial markets and borrowing needs; Private Banking, which provides a range of investment, credit and wealth planning solutions; Commercial Banking, which provides a range of international financial solutions; Retail Banking, which provides digital banking services. At Dec 31 2017, Co. had total assets of US$663.50 billion and deposits of US$30.94 billion.
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STD.CHARTERED PLC. (GB), a company active in the Money Center Banks industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 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 June 16, 2020, the closing price was GBp 428.60 and its potential was estimated at GBp 494.82.
A director at Standard Chartered bought 20,000 shares at 4.781USD and the significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of ...
Feasibility Study Results in December to be a Catalyst for this Junior
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 review, corresponding to 1062% of annual