Unilever NV, 26 June 2019
Shareholders should note that this is an EGM of depository receipt holders of Stichting Administratiekantoor Unilever N.V. ("the Trust Office").
Under ITEM 2, The board of directors of the Trust Office seeks approval to terminate the current depositary receipt (DR) structure. As a matter of principle, ECGS strongly supports the "one-share, one-vote" principle upholding the democratic notion that shareholder rights and voting power should be proportional to ownership risk.
ECGS furthermore notes that holders of Bearer Certificates may exchange their Bearer Certificates for ordinary shares free of charge (i.e. the proposal has no negative side effects for certificate holders).In ECGS’ view, the proposal improves the principle of "one-share, one-vote" and additionally makes it easier for shareholders to vote at the AGM. Accordingly, ECGS recommends to vote FOR.
Unilever is engaged in the supply of consumer goods in foods, household care and personal products. Co.'s activities are carried out through four categories: Personal Care, sales of skin care and hair care products, deodorants and oral care products; Home Care, sales of home care products, such as powders, liquids and capsules, soap bars and a range of cleaning products; Foods, sales of soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines and spreads; and Refreshment, sales of ice cream and tea-based beverages. Co.'s products are sold in over 190 countries around the world.
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