Disposal of 60% of Kantar business is tabled to vote. This is the biggest step in the WPP
reorganisation announced at the end of 2018. The CEO Mark Read, Sir Martin Sorrell’s
successor, set out a three-year plan of “radical evolution” to return the business to
growth, aiming a new WPP as a leader in creativity and technology. Part of this broad
restructuring, WPP has simplified its businesses, sold off companies (according to FT,
more than 30 subsidiaries for a total of almost £900m), cutting 3,500 jobs worldwide.
After the deal, Kantar will be held 60% by Bain Capital (indirectly) and 40% by the WPP
as a joint venture. The enterprise value of Kantar is $4.0 bn. 60% of the net proceeds
from the deal will be used to cut WPP debt and the balance distributed to shareholders.
We consider the proposed disposal to be in line with the new business strategy of the
WPP group, that will also strengthen the financial situation of the company.
WPP is a holding company. Through its subsidiaries, Co. is a communications services organization providing national and multinational clients a range of communications services. Co. is organized into four operating segments: Advertising and Media Investment Management; Data Investment Management; Public Relations and Public Affairs; and Branding and Identity, Healthcare and Specialist Communications. This last reportable segment includes WPP Digital and direct, digital, promotional & relationship marketing.
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A director at WPP bought 3,121 shares at 640p and the significance rating of the trade was 68/100. 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 board members along ...
The independent financial analyst theScreener just awarded an improved star rating to WPP PLC. (GB), active in the Media Agencies industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 3 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date May 26, 2020, the closing price was GBp 615.80 and its expected value was estimated at GBp 588.84.
Item 2: Remuneration report The Company used the following performance criteria for the bonus: profit before tax (PBT) growth (23.33%), headline operating margin improvement (23.33%), revenue less pass-through costs growth (23.33%), and individual strategic objectives (30%). PBT growth were below the target (-8.5% vs. -5% as target), operating margin was at the target (-1%) and revenue growth outperformed target (-1.3% vs. -1.75%). However, the CEO's 2019 bonus payout was 138% of salary (+83.3% annualised). The weight of financial objectives was 78% and personal objectives 60% out of the t...
Proxinvest attire l'attention des actionnaires sur certains points. Proxinvest regrette que la société continue d'associer le quitus à l'approbation des comptes sociaux et de l'approbation des dépenses non déductibles. En effet, Proxinvest aurait pu soutenir ces deux approbations si elles avaient été dissociées. Ensuite Proxinvest ne soutient pas les conventions règlementées avec les membres du conseil. De ce fait, Proxinvest s’oppose à la résolution 4. Le conseil n‘est pas majoritairement d’après Proxinvest, de ce fait nous ne soutenons pas les résolutions 11 et 12.
Proxinvest attire l'attention des actionnaires sur plusieurs points. Tout d'abord sur la composition du conseil. Proxinvest estime que le conseil n'est pas majoritairement indépendant. De plus les mandats sont d'une durée de 6 années ce qui ne respecte pas notre durée de 4 années. De ce fait, nous ne pouvons soutenir les renouvellements. Par ailleurs Proxinvest note que la transparence de la société concernant le rapport de rémunération pourrait être améliorée.
Proxinvest attire l'attention des actionnaires sur plusieurs points. Tout d'abord la société indique : "Au titre de l’exercice 2019/20, Pascal Imbert et Patrick Hirigoyen ont pris la décision de renoncer à leur part variable et les membres du Conseil de surveillance et des Comités à 25% de leur rémunération ;". De plus Pascal Imbert et Patrick Hirigoyen ont décidé de renoncer à une large partie de leurs rémunérations variables versées en 2019-2020 au titre de l'exercice précédent. Ces décisions sont liées à la situation exceptionnelle. Dans cette même optique la société décide de ne pas vers...
General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by postal vote or by granting authority to the proxies designated by the Company. Item 2: On 17 March 2020, the Management Board and the Supervisory Board initially resolved in light of the COVID-19 pandemic to propose to the AGM that the net profits of financial year 2019 shall be fully carried forward to new acc...
Covid-19 – Dividend As a result of the pandemic and the current UK government restrictions on travel and indoor public gatherings, shareholder attendance at the Company’s AGM will not be possible this year. Any changes to the Meeting will be communicated to shareholders before the Meeting through the Company’s website and, where appropriate, through an announcement to the London and Johannesburg stock exchanges. As part of the Group’s broad response to maintaining its liquidity position through the crisis and to maximize its support in tackling Covid-19, the Board has taken the prudent and a...
General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by postal vote or by granting authority to the proxies designated by the Company. Item 2: Management and Supervisory Board are proposing a dividend of EUR 0.65 per share (increased by 18.18% from EUR 0.55). In view of the recent events relating to COVID-19, ECGS is in favour of postponing decisions on the dividend...
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