{"id":34125,"date":"2021-04-28T17:43:43","date_gmt":"2021-04-28T15:43:43","guid":{"rendered":"https:\/\/www.eticasgr.com\/storie\/news-events\/erg-spa-2021"},"modified":"2021-05-06T17:33:07","modified_gmt":"2021-05-06T15:33:07","slug":"erg-spa-2021","status":"publish","type":"post","link":"https:\/\/www.eticasgr.com\/en\/storie\/vote-in-assembly\/erg-spa-2021","title":{"rendered":"ERG SpA | 2021"},"content":{"rendered":"

Etica Sgr\u2019s voting <\/strong><\/h2>\n

For the following items, Etica Sgr did not vote according to management recommendations:<\/p>\n

2. Allocation of profits and losses for the year; inherent and consequent resolutions.<\/h3>\n

Etica Sgr abstained, because the dividend payout ratio was significantly higher than the benchmark threshold considered in relation to the provisions of the Engagement Policy.<\/p>\n

4.Authorisation for the purchase and disposal of treasury shares following the revocation of the previous authorisation resolved by the Shareholders\u2019 Meeting on 21 April 2020<\/h3>\n

Etica Sgr voted against because not all of the criteria specified in the Engagement Policy were satisfied. In particular, the shares held could potentially exceed the threshold of 10% of the share capital.<\/p>\n

6.2.Report on the remuneration policy and compensation paid pursuant to Article 123-ter of Legislative Decree no. 58 of 24 February 1998 Section II: 2020 compensation and remuneration<\/h3>\n

Etica Sgr voted against because not all aspects of the Engagement Policy were respected. In particular, a possible misalignment between the remuneration granted and the company\u2019s performance was noted for a peer group identified by the proxy advisor.<\/p>\n

Other items on the Agenda<\/h3>\n

On the remaining items on the agenda, Etica SGR voted in favour, since they are consistent with the Etica SGR Engagement Policy.<\/a><\/p>\n

Agenda<\/h2>\n

Ordinary business<\/strong><\/h3>\n
    \n
  1. Financial Statements at 31 December 2020 and Directors’ Report; inherent and consequent resolutions. Presentation of the Consolidated Financial Statements and of the Consolidated Non-Financial Statement at 31 December 2020
    \nFOR<\/strong><\/u>\u00a0\u00a0    1.4<\/a><\/strong><\/li>\n
  2. Allocation of net result for the financial year: inherent and consequent resolutions
    \nABSTAIN<\/strong><\/u>\u00a0\u00a0    1.4<\/a><\/strong><\/li>\n
  3. \n
      \n
    1. Appointment of the Board of Directors-Determination of the number of members of the Board of Directors
      \nFOR<\/strong><\/u>\u00a0      1.1<\/strong><\/a><\/li>\n
    2. Appointment of the Board of Directors- Slate 1 Submitted by San Quirico SpA
      \nDO NOT VOTE<\/strong><\/u>       1.1<\/a>
      \n<\/strong><\/strong>Appointment of the Board of Directors-Slate 2 Submitted by Institutional Investors (Assogestioni)
      \nFOR<\/u>       1.1<\/a><\/strong><\/li>\n
    3. Appointment of the Board of Directors-Appointment of the Chairman of the Board of Directors
      \nFOR<\/u>       1.1<\/a><\/strong><\/li>\n
    4. Appointment of the Board of Directors-Determination of the remuneration payable to the members of the Board of Directors for the financial year 2021
      \nFOR<\/strong><\/u>       1.3.2<\/strong><\/a><\/li>\n
    5. Appointment of the Board of Directors-Determination of the remuneration payable to the members of the Control and Risk Committee for the financial year 2021
      \nFOR<\/u>       1.3.2<\/a><\/strong><\/li>\n
    6. Appointment of the Board of Directors-
      \nDetermination of the remuneration payable to the members
      \nof the Nominations and Remuneration Committee for the financial year 2021
      \nFOR<\/u>       1.3.2<\/a><\/strong><\/li>\n<\/ol>\n<\/li>\n
    7. Authorisation to purchase and dispose of treasury shares, upon annulment of the previous authorisation resolved by the Shareholders’ Meeting on 21 April 2020
      \nAGAINST<\/strong><\/u>\u00a0      1.2<\/strong><\/a><\/li>\n
    8. Long Term Incentive Plan (2021-2023 LTI System)
      \nFOR<\/strong><\/u>\u00a0\u00a0      1.3.1<\/a><\/strong>
      \n<\/strong><\/u><\/li>\n
    9. Report on the remuneration policy and fees paid out pursuant to Article 123-ter of Italian Legislative Decree no. 58 of 24 February 1998\n
        \n
      1. Report on the remuneration policy and fees paid out pursuant to Article 123-ter of Italian Legislative Decree no. 58 of 24 February 1998-Section I: 2021 Remuneration Policy
        \nFOR<\/strong><\/u>\u00a0        1.3<\/strong><\/a><\/li>\n
      2. Report on the remuneration policy and fees paid out pursuant to Article 123-ter of Italian Legislative Decree no. 58 of 24 February 1998-Section II: 2020 Compensation and remuneration
        \nAGAINST<\/u>         1.3<\/a><\/strong><\/li>\n<\/ol>\n<\/li>\n
      3. Deliberations on Possible Legal Action Against Directors if Presented by Shareholders
        \nDO NOT VOTE<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/li>\n<\/ol>\n
        \n
        \n
        <\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

        Etica Sgr\u2019s voting For the following items, Etica Sgr did not vote according to management recommendations: 2. Allocation of profits and losses for the year; inherent and consequent resolutions. Etica Sgr abstained, because the dividend payout ratio was significantly higher than the benchmark threshold considered in relation to the provisions of the Engagement Policy. 4.Authorisation […]<\/p>\n","protected":false},"author":10,"featured_media":25437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[594],"tags":[598,24641,24640],"yst_prominent_words":[24887,24411,9491,24883,24841,1117,9419,1111,24881,24838,24407,24886,24848,24840,24885,9350,9339,24882,24839,24884],"class_list":["post-34125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-vote-in-assembly","tag-italian-companies","tag-shareholder-activism","tag-sicav","temi-engagement-en"],"_links":{"self":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/posts\/34125"}],"collection":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/comments?post=34125"}],"version-history":[{"count":11,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/posts\/34125\/revisions"}],"predecessor-version":[{"id":34145,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/posts\/34125\/revisions\/34145"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/media\/25437"}],"wp:attachment":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/media?parent=34125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/categories?post=34125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/tags?post=34125"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/yst_prominent_words?post=34125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}