ECGS supports the new Phitrust Active Investors 2015 engagement campaign
The engagement open fund Phitrust Active Investors presented the themes of its new engagement campaign for 2014-2015 in July. Two subjects will be brought for shareholders’ engagement, the first one dealing with the new implementation of double voting rights in France within the framework of the “Loi Florange” allocating automatic double voting rights for holders of registered shares. Like Phitrust, ECGS considers that the law undermines the rights of minority shareholders and the principle of “one vote – one share”. The second theme proposed by Phitrust to Investors will be focused on introducing effective claw-back clauses mechanisms for executive directors in the French Banking sector. This proposal comes as a result of the recent increase in fines and legal procedures under way against banks in many countries, actually punishing shareholders. We encourage you to read the full press release by Phitrust Active Investors. […]
Top shareholders of GECINA file for banckrupcy : the end result of poor governance
GECINA: Alteco Import and MAG, Spanish investment companies, shareholders holding a 31% stake in Gecina [...]
Revealing gap between “independent expertises” at Casino Monoprix repurchase from Galeries Lafayette
The acquisition by the Casino group of the missing 50% stake of Monoprix from Galeries [...]
Why ECGS-GIR turned down the Xstrata – Glencore merger ?
Qatar Holdings, the second shareholder of the Swiss mining group with 10,4% du capital, in now asking for an increase [...]
Changes in Proxinvest corporate governance
During its general meeting on the 30th of June, Proxinvest shareholders unanimously approved the proposed corporate governance changes. In line with Proxinvest preference for the separation of functions, a supervisory Board has been created. Pierre-Henri Leroy, Proxinvest founder and former Chief [...]
BNP Paribas shareholders heavily penalized by the US
BNP Paribas shareholders heavily penalized by an arrogant US extraterritorial enforcement against the confused management of the French bank [...]
