VOESTALPINE, 03 July 2019
Item 4: We recommend to oppose the discharge of the Supervisory Board as we have concerns over the Management Board's remuneration system - both regarding transparency and content.
Items 6.1-6.8: We recommend to oppose the (re-)election of all candidates to the Supervisory Board due to independence concerns, concerns over aggregate time commitments and/or over insufficient information provided about the candidates.
Items 9 and 11: We recommend to oppose the creation of a new authorised and a new conditional capital as the potential dilution level may exceed our guidelines.
voestalpine is engaged in the production, processing, and distribution of materials made of steel and in research and development in the areas of metallurgy, metal processing, and materials technology. Co.'s steel division focuses on the production and processing of flat steel products. Co.'s special steel division is involve in tool steel and high-speed steel. Co.'s metal engineering division is engaged in turnout technology, rails and treated wire, and tubes. Co.'s metal forming division is involve in tube products and precision strip steel as well as pre-finished system components. Co.'s other activities include heavy plate production, a foundry, and a number of downstream processes.
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