Telenet Group - AGM and EGM 24 April 2019
In general, Telenet is in compliance with Belgian regulations relating to the organization and procedures of the Annual General Meeting.
ITEMS 1 to 8 concern the Annual General Meeting.
ITEMS E.1 and E.2 concern the Extraordinary Meeting.
in ITEM 4, the board of directors seeks approval of the Company's remuneration report. Since ECGS does not approve the long term incentive plans that do not operate one or more challenging performance conditions, we recommend shareholders to OPPOSE.
Under ITEMS 5.1- 5.13, the Company seeks to discharge individual members of the board of directors. In light of insufficient attendance at board meetings, ECGS recommends to OPPOSE the discharge of: Mr. Jim Ryan (ITEM 5.6), Mr. Diederik Karsten (ITEMS 5.7 and 5.13), Mr. Manuel Kohnstamm (ITEM 5.8), Ms Severina Pascu (ITEM 5.9), Ms. Amy Blair (ITEM 5.10), Ms Dana Strong (ITEM 5.11) and Ms. Suzanne Schoettger (ITEM 5.12).
Under ITEMS 7.2-7.4, two (re-)elections and one new nominee on the board of directors are proposed.
In light of insufficient independent representation on the board (33%) and concerns over aggregate time commitments, ECGS recommends to OPPOSE to the elections of: Mr. Manuel Kohnstamm (ITEM 7.3) and new nominee Enrique Rodriguez (ITEM 7.4).
Finally, under ITEM 8, the board of directors seeks approval of the terms and conditions of the Company's stock option plan. ECGS does not approve of long term incentive plans that do not operate one or more challenging performance conditions. Therefore, we recommend to OPPOSE.
Telenet Group Holding is a holding company. Through its subsdiairies and its broadband network, Co. is engaged in the provision of cable television, including television services, broadband internet and telephony services to residential subscribers in Flanders and certain communes in Brussels as well as broadband internet, data and voice services in the business market throughout Belgium and parts of Luxembourg. In addition, Co. is engaged in the provision of mobile telephony services through a mobile virtual network operator partnership with Mobistar NV.
Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.
Proxinvest main services are :
- Proxy reports
- Definition and monitoring of client customized voting guidelines
- Corporate Governance Data and Rating
- Thematic research
- Engagement support
Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.
Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.
As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.