Browsing All posts tagged under »Voting«

ECGS incorporates Spanish proxy advisor to the partnership, CORPORANCE

May 14, 2017

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The international network of local independent proxy advisors, Expert Corporate Governance Service (ECGS) has complemented its footprint in Europe by entering into a partnership agreement with Spain´s CORPORANCE Asesores de Voto (CORPORANCE), the first local proxy advisor and provider of advisory services to Spanish institutional investors. It will also cover the Portuguese market. With this agreement […]

Frontis Governance and ECGS commented on Consob’s consultation on multiple voting rights

December 9, 2014

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Originally posted on the ECGS website Frontis Governance, the Italian partner of ECGS and first Italian proxy advisory firm, presented its comments on the new Italian legislative provisions threatening the basic principle of equality of all shareholders. Like in France, ECGS partners demonstrate their strong opposition to the introduction of multiple voting rights, as a […]

The Parliament approved (even worsening) the law on multiple voting shares: a measure to strengthen major shareholders.

September 11, 2014

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Since 20 August, date of publication on the Official Gazette, the Italian law allows listed and private companies to issue multiple voting shares. Here are the main changes, as partially amended by the Parliament.   Additional voting right: Italian listed companies may assign an additional voting right to each common share uninterruptedly held for at […]

The multiple voting structure of the new Fiat-Chrysler is a clear breach of the basic principle of equal treatment of shareholders

July 22, 2014

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At the upcoming EGM of August 1st, Fiat’s shareholders will vote on the migration of the newborn Fiat-Chrysler Group from Italy to the Netherlands. The transaction is structured as a cross-border merger of Fiat SpA with and into its Dutch subsidiary Fiat Investments NV, which will be renamed Fiat Chrysler Automobiles NV (“FCA”). The new […]

Telecom Italia 2013 EGM’s results: everybody wins, nobody wins

December 23, 2013

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The most awaited Italian meeting of 2013 was finally held on December 20th. The voting quorum reached the highest level ever at Telecom Italia’s meetings: 54.26% of the share capital was represented. The major shareholder Telco voted 22.4% of the share capital, while the dissident shareholder, Mr. Fossati, who called the meeting to revoke the […]

Telecom Italia 2013 EGM: the unusual proxy fight (not) to gain the control

December 12, 2013

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Introduction On December 20th, the shareholders of the main Italian telecommunication company, Telecom Italia, will be called to vote on the removal of all Board members. The meeting has been called upon the request of the relevant shareholder Findim SA (5%), an investment vehicle created by Mr. Marco Fossati, who strongly contests the clear conflicts […]

Intesa Sanpaolo’s Board election: some funds question the independence of the “minority” slate

April 2, 2013

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On April 22nd, the Intesa Sanpaolo’s AGM will elect the members of the Supervisory Board through the slates of nominees’ mechanism (“voto di lista”). As per the voto di lista, mandatory for all Italian listed companies since 2007, shareholders will vote on slates of nominees submitted by other shareholders, holding at least a threshold of […]