Voting Report November 2017
Total Page：16
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Voting November 2017 Schroders is required to publish records of voting in order to achieve compliance with the UK Stewardship Code. According, voting in accordance with our house policy is set out on the following pages. Vote Summary Report Date range covered: 11/01/2017 to 11/30/2017 Amcor Limited Meeting Date: 11/01/2017 Country: Australia Meeting Type: Annual Ticker: AMC Proposal Vote Number Proposal Text Mgmt Rec Instruction 2a Elect Paul Brasher as Director For For 2b Elect Eva Cheng as Director For For 2c Elect Tom Long as Director For For 3 Approve the Grant of Options and Performance For For Shares to Ron Delia 4 Approve the Potential Termination Benefits For For 5 Approve the Remuneration Report For For Bingo Industries Limited Meeting Date: 11/01/2017 Country: Australia Meeting Type: Annual Ticker: BIN Proposal Vote Number Proposal Text Mgmt Rec Instruction 1 Elect Daniel Girgis as Director For For 2 Appoint Deloitte Touche Tohmatsu as Auditor of For For the Company 3 Approve Remuneration Report For For Fortress Income Fund Ltd Meeting Date: 11/01/2017 Country: South Africa Meeting Type: Annual Ticker: FFA Proposal Vote Number Proposal Text Mgmt Rec Instruction 1.1 Elect Vuso Majija as Director For For 1.2 Elect Bongiwe Njobe as Director For For 2.1 Re-elect Jeff Zidel as Director For For Vote Summary Report Date range covered: 11/01/2017 to 11/30/2017 Fortress Income Fund Ltd Proposal Vote Number Proposal Text Mgmt Rec Instruction 2.2 Re-elect Tshiamo Matlapeng-Vilakazi as Director For For 2.3 Re-elect Jan Potgieter as Director For For 3.1 Re-elect Djurk Venter as Member of the Audit For For Committee 3.2 Re-elect Jan Potgieter as Member of the Audit For For Committee 3.3 Re-elect Kura Chihota as Member of the Audit For For Committee 4 Reappoint Deloitte & Touche as Auditors of the For For Company with Bester Greyling as the Designated Audit Partner 5 Authorise Board to Fix Remuneration of the For For Auditors 6 Authorise Board to Issue Shares for Cash For For 7 Authorise Issue of Shares for Cash for Black For For Economic Empowerment Purposes 8 Approve Incentive Plan For For 9 Approve Remuneration Policy For For 1 Approve Financial Assistance in Terms of For For Section 45 of the Companies Act 2 Authorise Repurchase of Issued Share Capital For Against Voter Rationale: Request for more than 10% of issued share capital 3 Approve Financial Assistance for the Purchase of For For Subscription for its Shares to a BEE Entity 4 Approve Financial Assistance in Terms of For For Section 44 of the Companies Act 5 Approve Non-executive Directors' Remuneration For For 6 Approve Change of Company Name to Fortress For For REIT Limited 10 Authorise Ratification of Approved Resolutions For For KLA-Tencor Corporation Meeting Date: 11/01/2017 Country: USA Meeting Type: Annual Ticker: KLAC Vote Summary Report Date range covered: 11/01/2017 to 11/30/2017 KLA-Tencor Corporation Proposal Vote Number Proposal Text Mgmt Rec Instruction 1.1 Elect Director Edward W. Barnholt For For 1.2 Elect Director Robert M. Calderoni For For 1.3 Elect Director John T. Dickson For For 1.4 Elect Director Emiko Higashi For For 1.5 Elect Director Kevin J. Kennedy For For 1.6 Elect Director Gary B. Moore For For 1.7 Elect Director Kiran M. Patel For For 1.8 Elect Director Robert A. Rango For For 1.9 Elect Director Richard P. Wallace For For 1.10 Elect Director David C. Wang For For 2 Ratify PricewaterhouseCoopers LLP as Auditors For For 3 Advisory Vote to Ratify Named Executive For Against Officers' Compensation Voter Rationale: The minimum vesting period is less than three years 4 Advisory Vote on Say on Pay Frequency One Year One Year Link Administration Holdings Ltd Meeting Date: 11/01/2017 Country: Australia Meeting Type: Annual Ticker: LNK Proposal Vote Number Proposal Text Mgmt Rec Instruction 1 Elect Peeyush Gupta as Director For For 2 Elect Sally Pitkin as Director For For 3 Approve the Remuneration Report For For 4 Approve the Link Group Omnibus Equity Plan For For 5 Approve the Grant of Performance Share Rights For For to John McMurtrie Vote Summary Report Date range covered: 11/01/2017 to 11/30/2017 AVI Ltd Meeting Date: 11/02/2017 Country: South Africa Meeting Type: Annual Ticker: AVI Proposal Vote Number Proposal Text Mgmt Rec Instruction 1 Accept Financial Statements and Statutory For For Reports for the Year Ended 30 June 2017 2 Reappoint KPMG Inc as Auditors of the For Abstain Company Voter Rationale: An ABSTENTION on this item is warranted, due to the termination of KPMG as the Company's external auditors. 3 Re-elect Simon Crutchley as Director For For 4 Re-elect Owen Cressey as Director For For 5 Re-elect Gavin Tipper as Director For For 6 Re-elect Michael Bosman as Chairman of the For For Audit and Risk Committee 7 Re-elect Neo Dongwana as Member of the Audit For For and Risk Committee 8 Re-elect James Hersov as Member of the Audit For For and Risk Committee 9 Approve Fees Payable to the Current For For Non-executive Directors, Excluding the Chairmanof the Board and the Foreign Non-executive Director, Adriaan Nuhn 10 Approve Fees Payable to the Chairman of the For For Board 11 Approve Fees Payable to the Foreign For For Non-executive Director, Adriaan Nuhn 12 Approve Fees Payable to the Members of the For For Remuneration, Nomination andAppointments Committee 13 Approve Fees Payable to the Members of the For For Audit and Risk Committee 14 Approve Fees Payable to the Members of the For For Social and Ethics Committee 15 Approve Fees Payable to the Chairman of the For For Remuneration, Nomination andAppointments Committee 16 Approve Fees Payable to the Chairman of the For For Audit and Risk Committee 17 Approve Fees Payable to the Chairman of the For For Social and Ethics Committee 18 Authorise Repurchase of Issued Share Capital For For 19 Approve Remuneration Policy For For Vote Summary Report Date range covered: 11/01/2017 to 11/30/2017 Catalent, Inc. Meeting Date: 11/02/2017 Country: USA Meeting Type: Annual Ticker: CTLT Proposal Vote Number Proposal Text Mgmt Rec Instruction 1a Elect Director Rolf Classon For Against Voter Rationale: A vote AGAINST Rolf Classon and Gregory Lucier is warranted for the board's failure to remove, or submit to a sunset provision, the classified board and supermajority vote requirement to enact certain changes to the charter, which materially impacts shareholder rights 1b Elect Director Gregory T. Lucier For Against Voter Rationale: A vote AGAINST Rolf Classon and Gregory Lucier is warranted for the board's failure to remove, or submit to a sunset provision, the classified board and supermajority vote requirement to enact certain changes to the charter, which materially impacts shareholder rights 1c Elect Director Uwe Rohrhoff For For 2 Ratify Ernst & Young LLP as Auditors For For 3 Advisory Vote to Ratify Named Executive For For Officers' Compensation 4 Eliminate Supermajority Vote Requirement to For For Amend Bylaws 5 Eliminate Supermajority Vote Requirement for For For Removal of Directors 6 Amend Articles To Eliminate Obsolete Provisions For For and Make Other Non-Substantive and Conforming Changes Downer EDI Ltd. Meeting Date: 11/02/2017 Country: Australia Meeting Type: Annual Ticker: DOW Proposal Vote Number Proposal Text Mgmt Rec Instruction 2 Elect Mike Harding as Director For For 3 Approve the Remuneration Report For Against Voter Rationale: STI hurdle relating to free cash flow was adjusted which resulting in full achievement. 4 Approve the Grant of Performance Rights to For For Grant Fenn Vote Summary Report Date range covered: 11/01/2017 to 11/30/2017 Downer EDI Ltd. Proposal Vote Number Proposal Text Mgmt Rec Instruction 5 Approve Requisitioned Resolution- Powers of Against Against the Board Voter Rationale: The proposal asks the board to ensure the business is managed in line with the 2 degree global warming objective. The company already displays the best practices related to climate change risk management, thereby already addressing the proponent's request. A vote "against" is warranted. Fairfax Media Ltd. Meeting Date: 11/02/2017 Country: Australia Meeting Type: Annual Ticker: FXJ Proposal Vote Number Proposal Text Mgmt Rec Instruction 1 Approve the Capital Reduction For For 2 Elect Mickie Rosen as Director For For 3 Elect Todd Sampson as Director For For 4 Approve Grant of Performance Shares and For For Performance Rights to Gregory Hywood 5 Approve the Remuneration Report For For 6 Approve the Potential Termination Benefits of For For Antony Catalano Fairfax Media Ltd. Meeting Date: 11/02/2017 Country: Australia Meeting Type: Court Ticker: FXJ Proposal Vote Number Proposal Text Mgmt Rec Instruction 1 Approve the Scheme of Arrangement Between For For the Fairfax Media Limited and Its Shareholders Perpetual Ltd. Meeting Date: 11/02/2017 Country: Australia Meeting Type: Annual Ticker: PPT Vote Summary Report Date range covered: 11/01/2017 to 11/30/2017 Perpetual Ltd. Proposal Vote Number Proposal Text Mgmt Rec Instruction 1 Accept Financial Statements and Statutory For For Reports 2 Approve the Remuneration Report For Against Voter Rationale: The minimum vesting period is less than three years. 3 Elect Tony D'Aloiso as Director For For 4 Approve Issuance of Share Rights to Geoff Lloyd For Against Voter Rationale: The minimum vesting period is less than three years. PT Bank Negara Indonesia (Persero) Tbk Meeting Date: 11/02/2017 Country: Indonesia Meeting Type: Special Ticker: BBNI Proposal Vote Number Proposal Text Mgmt Rec Instruction 1 Elect Directors and Commissioners For Against Voter Rationale: Lack of disclosure Smartone Telecommunications Holdings Ltd.