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Our voting records
Search our voting records
Below you will find a fully searchable table of our UK and European voting records, going back as far as 2004 (note that we only started disclosing our European votes in December 2011). You can view all resolutions where we voted against or abstained for each individual company by selecting from the drop-down list, or view the comments on the vote cast by selecting the resolution detail link. Where we have not supported a board's recommendations, a brief explanation is included.
We make the voting records available monthly, two weeks in arrears. If you have any problems using the search facility please don’t hesitate to contact us.
Search
| Resolution | |||||
|---|---|---|---|---|---|
| Meeting Type | Company | No. | Detail | Vote Cast | Country |
| 04/04/2013 Annual |
Volvo AB | 18 |
Amend Articles Re: Insert Gender Quota for Board of Directors
Shareholder ProposalNot in shareholders’ best interests. |
Against | Sweden |
| 04/04/2013 Annual |
Volvo AB | 19 |
Request Board to Consider Increasing Apprenticeships
Shareholder ProposalNot in shareholders’ best interests. |
Against | Sweden |
| 10/04/2013 Annual |
Svenska Cellulosa Ab (Sca) | 15 |
Amend Articles Re: Insert Gender Quota for Board of Directors
Shareholder ProposalNot in shareholders’ best interests. |
Against | Sweden |
| 11/04/2013 Annual |
BP plc | 2 |
Approve Remuneration Report
Remuneration ReportRemuneration policy has the potential to reward executives for achieving unchallenging performance conditions. |
Against | United Kingdom |
| 11/04/2013 Annual |
BP plc | 8 |
Re-elect Antony Burgmans as Director
Re-elect DirectorWe voted against the re-election of the Remuneration Committee Chairman to emphasise and underline concerns regarding remuneration policy and practice. |
Against | United Kingdom |
| 11/04/2013 Annual |
BP plc | 10 |
Re-elect George David as Director
Re-elect DirectorWe abstained on the re-election of the Remuneration Committee member to emphasise and underline concerns regarding remuneration policy and practice. |
Abstain | United Kingdom |
| 11/04/2013 Annual |
BP plc | 11 |
Re-elect Ian Davis as Director
Re-elect DirectorWe abstained on the re-election of the Remuneration Committee member to emphasise and underline concerns regarding remuneration policy and practice. |
Abstain | United Kingdom |
| 11/04/2013 Annual |
BP plc | 12 |
Re-elect Dame Ann Dowling as Director
Re-elect DirectorWe abstained on the re-election of the Remuneration Committee member to emphasise and underline concerns regarding remuneration policy and practice. |
Abstain | United Kingdom |
| 11/04/2013 Annual/Special |
Klepierre | 4 |
Approve Auditors' Special Report on Related-Party Transactions
Related Party TransactionsInsufficient disclosure was provided on the detail of the transactions. |
Against | France |
| 11/04/2013 Annual/Special |
Klepierre | 8 |
Authorise Repurchase of Up to 5 Percent of Issued Share Capital
Poison Pills/Anti-takeover devicesWe did not believe this to be in the best interests of all shareholders |
Against | France |
| 15/04/2013 Annual |
Borregaard ASA | 3.3 |
Approve Remuneration Policy And Other Terms of Employment For Executive Management (Binding)
Remuneration ReportRemuneration policies are not aligned with our interests as shareholders. |
Against | Norway |
| 15/04/2013 Annual |
Borregaard ASA | 6.1 |
Authorize Share Repurchase Program in Connection with Employee Incentive Programs
Remuneration ReportRemuneration policies are not aligned with our interests as shareholders. |
Against | Norway |
| 17/04/2013 Annual |
Carnival plc | 15 |
Advisory Vote to Approve Compensation of the Named Executive Officers
Remuneration ReportWe did not feel it was appropriate that executives should receive bonuses on the basis that there were a number of incidents during the year involving the ships operated by the company. One of these resulted in customer fatalities, and others had a negative impact on the company’s reputation with its customers. The financial performance of the company was also affected. |
Against | United Kingdom |
| 17/04/2013 Annual |
Carnival plc | 16 |
Approve Remuneration Report
Remuneration ReportWe did not feel it was appropriate that executives should receive bonuses on the basis that there were a number of incidents during the year involving the ships operated by the company. One of these resulted in customer fatalities, and others had a negative impact on the company’s reputation with its customers. The financial performance of the company was also affected. |
Against | United Kingdom |
| 18/04/2013 Annual |
Adecco SA | 1.2 |
Approve Remuneration Report
Remuneration ReportRemuneration policies are not aligned with our interests as shareholders. |
Against | Switzerland |
| 18/04/2013 Annual/Special |
Altamir Amboise | 4 |
Approve Auditors' Special Report Regarding New Related-Party Transactions
Related Party TransactionsInsufficient disclosure was provided on the detail of the transactions. |
Against | France |
| 18/04/2013 Annual/Special |
Altamir Amboise | 14 |
Amend Article 10 of Bylaws Re: Owners of Preferred Stock (B Shares)
Amend Articles/BylawsNot in shareholders’ best interests. |
Against | France |
| 18/04/2013 Annual/Special |
Gecina | 8 |
Authorise Repurchase of Up to 10 Percent of Issued Share Capital
Poison Pills/Anti-takeover devicesWe did not believe this to be in the best interests of all shareholders |
Against | France |
| 18/04/2013 Annual/Special |
Gecina | 11 |
Approve Issuance of Equity or Equity-Linked Securities for up to 10 Percent of Issued Capital Per Year for Private Placements up to Aggregate Nominal Amount of EUR 50 Million
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 18/04/2013 Annual/Special |
Gecina | 12 |
Authorise Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 18/04/2013 Annual/Special |
Gecina | 13 |
Authorise Capital Increase of up to 10 Percent of Issued Capital for Future Acquisitions
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 18/04/2013 Annual/Special |
Gecina | 15 |
Authorise Board to Set Issue Price for 10 Percent Per Year of Issued Capital Pursuant to Issue Authority without Preemptive Rights
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 18/04/2013 Annual/Special |
Gecina | 17 |
Authorise up to 1.5 Percent of Issued Capital for Use in Stock Option Plan
Executive Incentive SchemesLack of disclosure on performance criteria |
Against | France |
| 18/04/2013 Annual/Special |
Gecina | 18 |
Authorise up to 1.5 Percent of Issued Capital for Use in Restricted Stock Plan
Executive Incentive SchemesLack of disclosure on performance criteria |
Against | France |
| 18/04/2013 Annual/Special |
LVMH Moet Hennessy Louis Vuitton | 3 |
Approve Auditors' Special Report on Related-Party Transactions
Related Party TransactionsWe were not sufficiently reassured by the company that this would be fair to all shareholders |
Against | France |
| 18/04/2013 Annual/Special |
LVMH Moet Hennessy Louis Vuitton | 15 |
Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of EUR 50 Million
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 18/04/2013 Annual/Special |
LVMH Moet Hennessy Louis Vuitton | 16 |
Approve Issuance of Shares up to 20 Percent of Issued Capital Per Year up to EUR 50 Million Reserved for Qualified Investors or Restricted Number of Investors
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 18/04/2013 Annual/Special |
LVMH Moet Hennessy Louis Vuitton | 17 |
Authorise Board to Set Issue Price for 10 Percent Per Year of Issued Capital Pursuant to Issue Authority without Pre-emptive Rights Under Items 15 and 16 Above
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 18/04/2013 Annual/Special |
LVMH Moet Hennessy Louis Vuitton | 18 |
Authorise Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Under Items 15 to 17
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 18/04/2013 Annual/Special |
LVMH Moet Hennessy Louis Vuitton | 19 |
Authorise Capital Increase of Up to EUR 50 Million for Future Exchange Offers
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 18/04/2013 Annual/Special |
LVMH Moet Hennessy Louis Vuitton | 23 |
Authorise up to 1 Percent of Issued Capital for Use in Restricted Stock Plan
Executive Incentive SchemesLack of disclosure on performance criteria |
Against | France |
| 18/04/2013 Annual/Special |
LVMH Moet Hennessy Louis Vuitton | 24 |
Amend Article 18 and 29 of Bylaws Re: Related-Party Transactions, Stock Dividend Program
Amend Articles/BylawsIt is our view that this bundled resolution included provisions that could weaken disclosure of related party transactions. |
Against | France |
| 18/04/2013 Annual |
Persimmon plc | 2 |
Approve Remuneration Report
Ex-gratia PaymentsWe do not support ex-gratia & other payments and financial awards to directors and former directors that are not within the terms of the company’s stated remuneration policy, unless such payments have been subject to prior approval by shareholders. |
Against | United Kingdom |
| 19/04/2013 Annual/Special |
Banca Popolare dell'Emilia Romagna | 2.1 |
Slate 1
Slate NomineesShareholders can only vote in favour of one slate, and this slate does not best represent the interests of shareholders. |
Against | Italy |
| 19/04/2013 Annual/Special |
Banca Popolare dell'Emilia Romagna | 2.3 |
Slate 3
Slate NomineesShareholders can only vote in favour of one slate, and this slate does not best represent the interests of shareholders. |
Against | Italy |
| 22/04/2013 Annual |
BinckBank NV | 8a |
Amend Articles Re: Legislative Changes
Amend Articles/BylawsNot in shareholders’ best interests. |
Against | Netherlands |
| 22/04/2013 Annual |
BinckBank NV | 8b |
Authorise Board Members and NautaDutilh N.V. to Ratify and Execute Approved Amendments Re: Item 8a
Amend Articles/BylawsNot in shareholders’ best interests. |
Against | Netherlands |
| 23/04/2013 Annual |
Syngenta AG | 1.2 |
Approve Remuneration Report
Executive Incentive SchemesThe incentive scheme appears to have no clear award policy and an absence of performance conditions. |
Abstain | Switzerland |
| 23/04/2013 Annual |
TOMTOM NV | 10 |
Approve Granting of Subscription Rights for Ordinary Shares under Employee Stock Option Plan and Management Board Stock Option Plan and Exclude Pre-emptive Rights
Authorise Issued Capital for use in Incentive PlanThe underlying features of this scheme did not reflect international best practice. We therefore did not support this authority to allocate shares to the scheme. |
Against | Netherlands |
| 23/04/2013 Annual |
TOMTOM NV | 11 |
Approve Call-Option Agreement with Company Friendly Foundation
Poison Pills/Anti-takeover devicesWe did not believe this to be in the best interests of all shareholders |
Against | Netherlands |
| 23/04/2013 Annual |
TOMTOM NV | 14.ii |
Amend Article 5.6 Re: Term to Convene General Meeting in Case of Issuances of Preference Shares
Amend Articles/BylawsNot in shareholders’ best interests. |
Against | Netherlands |
| 24/04/2013 Annual |
AZIMUT HOLDING S.p.A. | 6 |
Authorise Share Repurchase Program and Reissuance of Repurchased Shares
Share RepurchaseThe structure of this authority was against best practice guidelines, therefore we were unsupportive. |
Against | Italy |
| 24/04/2013 Annual/Special |
Anheuser-Busch InBev SA | A1c |
Eliminate Pre-emptive Rights Re: Issuance of Subscription Rights
Option awards to Non-executive DirectorsWe do not believe that Non-executives should receive other remuneration in addition to their basic fees, given that their role is to constructively challenge and scrutinise management and contribute to the development of strategy. |
Against | Belgium |
| 24/04/2013 Annual/Special |
Anheuser-Busch InBev SA | A1d |
Approve Non-Employee Director Stock Option Plan: Issuance of 185,000 Warrants
Option awards to Non-executive DirectorsWe do not believe that Non-executives should receive other remuneration in addition to their basic fees, given that their role is to constructively challenge and scrutinise management and contribute to the development of strategy. |
Against | Belgium |
| 24/04/2013 Annual/Special |
Anheuser-Busch InBev SA | A1e |
Renew Authorisation to Increase Share Capital within the Framework of Authorised Capital: Issuance of Warrants under item A1d
Option awards to Non-executive DirectorsWe do not believe that Non-executives should receive other remuneration in addition to their basic fees, given that their role is to constructively challenge and scrutinise management and contribute to the development of strategy. |
Against | Belgium |
| 24/04/2013 Annual/Special |
Anheuser-Busch InBev SA | A1f |
Approve Deviation from Belgian Company Law Provision Re: Grant of Warrants to Non-Executive Directors
Option awards to Non-executive DirectorsWe do not believe that Non-executives should receive other remuneration in addition to their basic fees, given that their role is to constructively challenge and scrutinise management and contribute to the development of strategy. |
Against | Belgium |
| 24/04/2013 Annual/Special |
Anheuser-Busch InBev SA | A1g |
Authorise Implementation of Approved Resolutions and Filing of Required Documents/Formalities at Trade Registry
Option awards to Non-executive DirectorsWe do not believe that Non-executives should receive other remuneration in addition to their basic fees, given that their role is to constructively challenge and scrutinise management and contribute to the development of strategy. |
Against | Belgium |
| 24/04/2013 Annual/Special |
Anheuser-Busch InBev SA | B9a |
Approve Remuneration Report
Remuneration ReportRemuneration policies are not aligned with our interests as shareholders. |
Against | Belgium |
| 24/04/2013 Annual/Special |
Anheuser-Busch InBev SA | B9b |
Approve Stock Option Plan Grants
Executive Incentive SchemesThe structure of this scheme is not aligned with the interests of shareholders |
Against | Belgium |
| 24/04/2013 Annual |
STV Group plc | 9 |
Approve Value Creation Plan
Executive Incentive SchemesThe structure of this scheme is not aligned with the interests of shareholders |
Abstain | United Kingdom |
| 25/04/2013 Annual |
Aggreko plc | 2 |
Approve Remuneration Report
Remuneration ReportRemuneration policies are not aligned with our interests as shareholders. |
Abstain | United Kingdom |
| 25/04/2013 Annual/Special |
Bouygues | 4 |
Approve Auditors' Special Report on Related-Party Transactions
Related Party TransactionsInsufficient disclosure was provided on the detail of the transactions. |
Against | France |
| 25/04/2013 Annual/Special |
Bouygues | 15 |
Authorise Repurchase of Up to 5 Percent of Issued Share Capital
Poison Pills/Anti-takeover devicesWe did not believe this to be in the best interests of all shareholders |
Against | France |
| 25/04/2013 Annual/Special |
Bouygues | 19 |
Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of EUR 150 Million
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 25/04/2013 Annual/Special |
Bouygues | 20 |
Approve Issuance of Equity or Equity-Linked Securities for up to 20 Percent of Issued Capital Per Year for Private Placements, up to Aggregate Nominal Amount of EUR 150 Million
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 25/04/2013 Annual/Special |
Bouygues | 21 |
Authorise Board to Set Issue Price for 10 Percent Per Year of Issued Capital Pursuant to Issue Authority without Preemptive Rights
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 25/04/2013 Annual/Special |
Bouygues | 22 |
Authorise Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Above
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 25/04/2013 Annual/Special |
Bouygues | 24 |
Authorise Capital Increase of Up to EUR 150 Million for Future Exchange Offers
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 25/04/2013 Annual/Special |
Bouygues | 25 |
Authorise Issuance of Equity upon Conversion of a Subsidiary's Equity-Linked Securities for up to EUR 150 Million
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 25/04/2013 Annual/Special |
Bouygues | 27 |
Approve Employee Stock Purchase Plan
Executive Incentive SchemesThe dilution limits under this scheme exceeded best practice guidelines, we were therefore unsupportive. |
Against | France |
| 25/04/2013 Annual/Special |
Bouygues | 28 |
Authorise up to 5 Percent of Issued Capital for Use in Restricted Stock Plan
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 25/04/2013 Annual/Special |
Bouygues | 29 |
Authorise Board to Issue Free Warrants with Preemptive Rights During a Public Tender Offer
Poison Pills/Anti-takeover devicesWe did not believe this to be in the best interests of all shareholders |
Against | France |
| 25/04/2013 Annual/Special |
Bouygues | 30 |
Allow Board to Use All Outstanding Capital Authorizations in the Event of a Public Tender Offer or Share Exchange Offer
Poison Pills/Anti-takeover devicesWe did not believe this to be in the best interests of all shareholders |
Against | France |
| 25/04/2013 Annual |
Colt Group SA | 6 |
Approve Remuneration Report
Executive Incentive SchemesThis incentive scheme is not aligned with the interests of shareholders as it allows awards to vest after less than three years. |
Against | United Kingdom |
| 25/04/2013 Annual |
Colt Group SA | 24 |
Amend Share Grant Plan
Remuneration ReportWe oppose rises in bonus potential that are not matched by a commensurate rise in performance hurdle. |
Against | United Kingdom |
| 25/04/2013 Annual/Special |
Compagnie Plastic Omnium | 8 |
Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of EUR 300 Million
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 25/04/2013 Annual/Special |
Compagnie Plastic Omnium | 9 |
Authorise Board to Increase Capital in the Event of Additional Demand Related to Delegation Submitted to Shareholder Vote Above
Capital StructureNot in shareholders’ best interests as this authority does not reflect international best practice. |
Against | France |
| 25/04/2013 Annual/Special |
Compagnie Plastic Omnium | 10 |
Authorise up to 2.5 Percent of Issued Capital for Use in Stock Option Plan
Authorise Issued Capital for use in Incentive PlanThe underlying features of this scheme did not reflect international best practice. We therefore did not support this authority to allocate shares to the scheme. |
Against | France |
| 25/04/2013 Annual/Special |
Compagnie Plastic Omnium | 11 |
Authorise up to 2.5 Percent of Issued Capital for Use in Restricted Stock Plan
Authorise Issued Capital for use in Incentive PlanThe underlying features of this scheme did not reflect international best practice. We therefore did not support this authority to allocate shares to the scheme. |
Against | France |
| 25/04/2013 Annual |
Sandvik AB | 17 |
Spin-off and Listing of Sandvik Materials Technology on the Stock Exchange; Distribute Shares to Sandvik's Shareholders
Shareholder ProposalNot in shareholders’ best interests. |
Against | Sweden |
| 25/04/2013 Annual/Special |
Schneider Electric SA | 34 |
Elect Claude Briquet as Representative of Employee Shareholders to the Board
Elect Employee Shareholder RepresentativeShareholders are required to elect only one employee representative to the board. It is our view that this nominee did not represent the best interests of shareholders. |
Against | France |
| 25/04/2013 Annual/Special |
Schneider Electric SA | 36 |
Elect Thierry Jacquet as Representative of Employee Shareholders to the Board
Elect Employee Shareholder RepresentativeShareholders are required to elect only one employee representative to the board. It is our view that this nominee did not represent the best interests of shareholders. |
Against | France |
| 25/04/2013 Annual/Special |
Schneider Electric SA | 37 |
Elect Jean-Michel Vedrine as Representative of Employee Shareholders to the Board
Elect Employee Shareholder RepresentativeShareholders are required to elect only one employee representative to the board. It is our view that this nominee did not represent the best interests of shareholders. |
Against | France |
| 25/04/2013 Annual/Special |
Scor SE | 4 |
Approve Auditors' Special Report on Related-Party Transactions
Related Party TransactionsWe did not believe this to be in the best interests of all shareholders, however we accepted that the company had made some improvements during the year, and we were able to abstain. |
Abstain | France |
| 25/04/2013 Annual/Special |
Scor SE | 22 |
Authorise up to 1 Million of Shares for Use in Stock Option Plan
Authorise Issued Capital for use in Incentive PlanThe underlying features of this scheme did not reflect international best practice. However we acknowledged some points of explanation provided by the company in this case, and took into account that the company had provided better disclosure on this issue than many of its peers. |
Abstain | France |
| 25/04/2013 Annual/Special |
Scor SE | 23 |
Authorise up to 4 Million of Shares for Use in Restricted Stock Plan
Authorise Issued Capital for use in Incentive PlanThe underlying features of this scheme did not reflect international best practice. However we acknowledged some points of explanation provided by the company in this case, and took into account that the company had provided better disclosure on this issue than many of its peers. |
Abstain | France |
| 25/04/2013 Annual |
Taylor Wimpey plc | 16 |
Approve Remuneration Report
Remuneration ReportWe did not feel that the proposed increase in bonus potential was justified by corporate performance in recent years and therefore abstained on the approval of the remuneration report. |
Abstain | United Kingdom |
| 25/04/2013 Annual/Special |
UCB SA | E.2 |
Authorise Board to Increase Authorised Capital up to EUR 500 Million, Including by way of Issuance of Warrants or Convertible Bonds
Increase in CapitalThe potential dilution from this increase is against best practice guidelines, therefore we were unsupportive. |
Against | Belgium |
| 25/04/2013 Annual/Special |
UCB SA | E.3 |
Authorise Board to Issue Warrants/ Convertible Bonds in the Event of a Public Tender Offer or Share Exchange Offer Up to EUR 500 Million and Amend Articles Accordingly
Poison Pills/Anti-takeover devicesWe did not believe this to be in the best interests of all shareholders |
Against | Belgium |
| 25/04/2013 Annual/Special |
UCB SA | E.5 |
Authorise Board to Repurchase and to Reissue Shares in the Event of a Serious and Imminent Harm and Amend Articles Accordingly
Poison Pills/Anti-takeover devicesWe did not believe this to be in the best interests of all shareholders |
Against | Belgium |
| 25/04/2013 Annual/Special |
UCB SA | E.6 |
Authorise Repurchase of Up to 20 Percent of Issued Share Capital if Item E.5 is not Approved
Share RepurchaseThe structure of this authority was against best practice guidelines, therefore we were unsupportive. |
Against | Belgium |
| 26/04/2013 Annual/Special |
L Oreal | 10 |
Authorise up to 0.6 Percent of Issued Capital for Use in Restricted Stock Plan
Executive Incentive SchemesThe structure of this scheme is not aligned with the interests of shareholders |
Against | France |
| 26/04/2013 Annual |
Pearson plc | 13 |
Approve Remuneration Report
Remuneration ReportRemuneration policies are not aligned with our interests as shareholders. |
Abstain | United Kingdom |
| 29/04/2013 Annual/Special |
Compagnie industrielle et financiere d ingenierie Ingenico | 6 |
Approve Severance Payment Agreement with Philippe Lazare
Related Party TransactionsWe did not believe this to be in the best interests of all shareholders |
Against | France |
| 29/04/2013 Annual/Special |
Compagnie industrielle et financiere d ingenierie Ingenico | 10 |
Authorise Repurchase of Up to 10 Percent of Issued Share Capital
Poison Pills/Anti-takeover devicesWe did not believe this to be in the best interests of all shareholders |
Against | France |
| 29/04/2013 Annual/Special |
Compagnie industrielle et financiere d ingenierie Ingenico | 23 |
Allow Board to Use All Authorisations and/or Delegations in the Event of a Public Tender Offer
Poison Pills/Anti-takeover devicesWe did not believe this to be in the best interests of all shareholders |
Against | France |
| 29/04/2013 Annual |
Luxottica Group S.p.A. | 3 |
Approve Performance Shares Plan 2013-2017
Executive Incentive SchemesThe structure of this scheme is not aligned with the interests of shareholders |
Against | Italy |
| 30/04/2013 Annual/Special |
Atlantia SPA | 2 |
Authorise Share Repurchase Program and Reissuance of Repurchased Shares
Share RepurchaseThe structure of this authority was against best practice guidelines, therefore we were unsupportive. |
Against | Italy |
| 30/04/2013 Annual/Special |
Atlantia SPA | 4 |
Approve Remuneration Report
Remuneration Report/PolicyInsufficient disclosure of the features of remuneration policy. |
Against | Italy |
| 30/04/2013 Annual/Special |
Atlantia SPA | 5 |
Amend Equity Compensation Plans
Executive Incentive SchemesPerformance conditions were considered undemanding and there was no cap on the size of award that could be made to individuals. |
Against | Italy |
| 30/04/2013 Annual |
Deutz AG | 6 |
Approve Remuneration System for Management Board Members
Executive Incentive SchemesThere is a lack of cap on the size of the awards. |
Against | Germany |
| 30/04/2013 Annual/Special |
Renault | 15 |
Authorise up to 1.5 Percent of Issued Capital for Use in Restricted Stock Plan
Executive Incentive SchemesLack of disclosure on performance criteria |
Abstain | France |
| 30/04/2013 Annual/Special |
Vivendi | 3 |
Approve Auditors' Special Report on Related-Party Transactions
Related Party TransactionsWe did not believe this to be in the best interests of all shareholders |
Against | France |
