EXOR NV
Ticker: EXO
Meeting date: 27/05/2021
Meeting type: Annual
| Proposal | Mgt rec | Vote | |
|---|---|---|---|
| Management proposals | |||
| 2.b | Proposal Approve Remuneration Report | Mgt rec For | Vote For |
| 2.c | Proposal Adopt Financial Statements | Mgt rec For | Vote For |
| 2.e | Proposal Approve Dividends of EUR 0.43 Per Share | Mgt rec For | Vote For |
| 3.a | Proposal Ratify Ernst & Young Accountants LLP as Auditors | Mgt rec For | Vote For |
| 4.a | Proposal Approve Discharge of Executive Directors | Mgt rec For | Vote For |
| 4.b | Proposal Approve Discharge of Non-Executive Directors | Mgt rec For | Vote For |
| 5 | Proposal Elect Ajaypal Banga as Non-Executive Director | Mgt rec For | Vote For |
| 6.a | Proposal Authorize Repurchase of Shares | Mgt rec For | Vote For |
| 6.b | Proposal Approve Cancellation of Repurchased Shares | Mgt rec For | Vote For |
| 6.c | Proposal Grant Board Authority to Issue Shares Vote rationale: Existing shareholders should have the right to approve share issuances in order to prevent the dilution of ownership without their prior consent. Existing shareholders should have the right to participate pro rata to maintain their voting share and benefit from any discount offered. The approval for a general authority should be reasonably close in time to the intended capital allocation to allow for an informed voting decision. Global Voting Guidelines Shareholder rights in equity issuances | Mgt rec For | Vote Against |
| 6.d | Proposal Authorize Board to Exclude Preemptive Rights from Share Issuances Vote rationale: Existing shareholders should have the right to approve share issuances in order to prevent the dilution of ownership without their prior consent. Existing shareholders should have the right to participate pro rata to maintain their voting share and benefit from any discount offered. The approval for a general authority should be reasonably close in time to the intended capital allocation to allow for an informed voting decision. Global Voting Guidelines Shareholder rights in equity issuances | Mgt rec For | Vote Against |
| 6.e | Proposal Grant Board Authority to Issue Special Voting Shares A without Preemptive Rights Vote rationale: All shareholders should have the right to vote on fundamental corporate decisions, and voting rights should be proportionate to cash flow rights. Any unequal voting rights should be time-limited and aligned with cash flow rights over time. Global Voting Guidelines Multiple share classes | Mgt rec For | Vote Against |
Disclaimer
This page contains certain information as to the voting intentions of Norges Bank in its role as manager of the Government Pension Fund Global. This disclosure is provided to promote transparency as to Norges Bank’s engagement with investee companies, and in view of its approach to responsible investing. Norges Bank’s voting intention is an internal decision and has not been agreed with any third party. Please note the following:
- This disclosure is provided for information purposes only. It does not constitute advice and should not be taken as a recommendation or an instruction on any matter, including whether any relevant third party should buy, sell or retain shares, or how any third party should exercise any voting rights they may have. Any person who wishes to obtain advice should seek this from a professional adviser. This disclosure is not a proxy solicitation and is not intended to influence the vote of other shareholders.
- No reliance should be placed on this information or its accuracy, and Norges Bank accepts no responsibility or liability for any action taken or not taken on the basis of this information. Any relevant third party should form their own views based on their own analysis of the relevant facts and circumstances.
- To be clear, Norges Bank has no duty of care in respect of any third party who decides to view this disclosure, which shall be done entirely at their own risk.
- Any information in this disclosure is subject to change without notice. In particular, be aware that Norges Bank’s intentions and the holdings of the Government Pension Fund Global may change over time and, to the extent permitted by applicable law, Norges Bank disclaims any responsibility to update this information as a result of such changes or for any other reason.
- Securities lending or other activity may mean that the votes cast by Norges Bank are significantly different than its economic or published holding of shares, or significantly different from its holding at the date of this disclosure. No assumption should be made or reliance placed on the number of votes that will be cast.
- Norges Bank is not subject to any prohibition on securities lending, trading or other activity as a result of this disclosure at any point prior to or after the publication of this disclosure.