DOCSLIB.ORG

Fy19-Annual-Report-Full.Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Fy19-Annual-Report-Full.Pdf THE SAGE GROUP PLC ANNUAL REPORT AND ACCOUNTS 2019 BECOMING A GREAT SAAS COMPANY FINANCIAL HIGHLIGHTS Organic recurring revenue growth Organic operating margin 10.8% 23.7% FY18: 6.7% FY18: 28.8% STRATEGIC KPIs Renewal by value Subscription penetration 101% 55% FY18: 101% FY18: 45% Annualised recurring revenue (ARR) growth Sage Business Cloud penetration 12.6% 48% FY18: N/A* FY18: 29% See more about our Strategic KPIs on pages 8 to 9 * FY19 is the first year of disclosure for ARR growth. OTHER KEY HIGHLIGHTS Underlying cash conversion Organic revenue growth 129% 5.6% FY18: 96% FY18: 6.5% Statutory revenue growth Dividend 5.0% 16.91p FY18: 7.6% FY18: 16.50p About our non-GAAP measures and why we use them Throughout the Strategic Report we quote two kinds of Organic measures allow management and investors to non-GAAP measure: underlying and organic. Underlying understand the like-for-like performance of the business. measures allow management and investors to compare Full definitions of underlying and organic can be found within performance without the potentially distorting effects note 2 of the financial statements. Reconciliations of statutory of foreign exchange movements, one-off items or revenue, operating profit and basic earnings per share to their non-operational items. underlying and organic equivalents are in the Financial review starting on page 46. On the cover: Sage Intacct customer, Specialty's Café and Bakery, which operates over 50 restaurants in California, Washington and Illinois. STRATEGIC REPORT Sage is a global market leader for Contents technology that helps small and Strategic report 2-3 Purpose, vision & strategy medium businesses perform at their 4-5 Our business model 6-7 Our investment case best. Sage is trusted by millions of 8-9 Key performance indicators 10-11 Chairman’s statement customers worldwide to deliver the 12-15 CEO review best cloud technology and support, 16-17 Our Strategy 18-21 Customer Success with our partners, to manage finances, 22-25 Colleague Success 26-29 Innovation operations, and people. We believe 30 Non-financial information statement 31 Section 172 statement in doing everything we can to help 32-35 People 36-37 Customers people be the best they can be, 38-41 Foundation so the combined efforts of 13,000 42-45 Environment 46-52 Financial review Sage colleagues working with 54-57 Risk management businesses and communities 58-65 Principal risks and uncertainties Governance make a real difference to the world. 66 Chairman’s introduction to corporate governance 67-68 Board of Directors 69 Executive Committee 70-95 Corporate governance report 96-123 Directors’ remuneration report 124-128 Directors’ report Financial statements 130-139 Independent auditor’s report to the members of The Sage Group plc 140-144 Group financial statements 145-205 Notes to the Group financial statements 206-213 Company financial statements 214-216 Glossary 217 Shareholder information The Sage Group plc. Annual Report and Accounts 2019 1 OUR PURPOSE is to transform the way people think and work so their organisations can thrive. It’s the reason we exist as a business. OUR VISION is to become a great SaaS Company for Customers and Colleagues alike. We do this by serving our customers on subscription and in the cloud. 2 Annual Report and Accounts 2019 The Sage Group plc. OUR STRATEGY is how we will achieve our vision. It is designed around three strategic lenses: Customer Colleague Innovation Success Success Creating solutions that deliver real customer value and Creating enduring Creating an environment solve real customer problems subscription relationships that values the individual, by doing things differently, and having a customer- fosters collaboration and leveraging incremental, centric approach in rewards all colleagues emerging and experimental everything we do innovation THESE PRIORITIES HELP US… The Sage Group plc. Annual Report and Accounts 2019 3 Capture the MARKET OPPORTUNITY $36bn $34bn Sage operates in a total addressable +13% market (TAM) set to be worth Cloud growth $17bn $19bn $36bn in FY20 comprising 72m businesses. This market grows at 7% per year, 7% with spend on cloud growing at 13%. Total market growth Included within this TAM is the single-largest software category in the world, Accounting and Financials. +2% $17bn $17bn On-premise growth Cloud On-premise 2019 2020 Source data = IDC Customs Solutions Market Model Market growth Market growth in this TAM is well ahead of global GDP growth. Catalysts for this growth are: 1. Gaining insights and efficiencies 2. The shift to subscription and the cloud – Accounting and Financials software is no longer about – Moving to a business model where consumers pay a producing backward-looking accounts. As technology subscription fee for usage rather than owning an asset is evolves, software can continue to help businesses becoming increasingly prevalent across all industries. This, become more efficient and allow them to gain more combined with cloud technology, allows the vendor to offer insights into their business. This adds significant value more value by offering access to the latest upgrades as soon as and results in back-office software becoming more they are available. It also boosts retention rates of customers critical to a business’s long-term success. as vendors can improve their relationship with customers. – This includes data-entry automation, artificial – Furthermore, as governments and other stakeholders intelligence, machine learning, business insights automate processes (such as Making Tax Digital in the UK), and analytics. Read more about what Sage is doing there is more demand from customers to be on the latest here on pages 26 to 29. version of software to ensure they remain compliant. – Globally, cloud adoption rates are expected to continue to trend upwards from 43% in 2019 to 46% in 2020. The USA is the most cloud adoptive region and forecast to reach 55% in 2020, with the UK&I expected to be at 43% and France at 33%. See more on the economics of a subscription model on pages 6 to 7. by serving SMALL AND MEDIUM businesses Sage targets the professional user, typically an accountant or book-keeper who understands compliance and wants rich functionality to help drive efficiencies and gain more insight into their business. Small businesses Small customers are typically owner-run businesses with professionals or small teams Medium businesses responsible for finances Medium customers are more complex, and human resources. usually functionally structured around They are looking to automate specialist teams and departments accounting and compliance with different needs. They are often while managing costs and scaling and transforming and need cash flow. Their concerns insights for growth and competitive tend to be around compliance advantage. They typically spend and risk and they need longer integrating our solutions simple solutions, where they into their business. can subscribe and be up and running. Sage serves millions of small and medium customers around the world. through unique COMPETITIVE ADVANTAGES That enhance our proposition and ensure we stand out against the competition. Trust World-class Sage has a strong reputation products as a trusted advisor, renowned for keeping customers safe Sage continues to invest and compliant in technology to ensure its products remain among the market leaders Relationships Global reach: Sage prides itself on local focus building strong and lasting relationships with its Sage has global scale but extensive customers. We provide local knowledge which helps ensure market-leading customer its products are leading the way in services with our team compliance and allows the Group of caring and dedicated to plan for changes in legislation services colleagues before they are introduced and the power of the SAGE BUSINESS CLOUD Sage Business Cloud is a suite of unified solutions that add high-value with common services, so customers can integrate and migrate data across solutions. This is supported by a rich and robust marketplace with almost 1,000 ISV apps and emerging tech across artificial intelligence, machine learning and automation Cloud connected and Cloud native solutions hybrid solutions Sage X3 Sage Intacct Medium businesses Sage 200c Sage People Small businesses Sage 50c Sage Accounting Sage 50cloud and Sage 200cloud provide the power Sage Accounting, Sage Intacct and Sage People and productivity of the desktop with the freedom provide a fully functional and flexible cloud native and security of the cloud. Sage continues to solution with open APIs, giving access to a wide invest in these solutions, building cloud ecosystem of partners and ISVs. functionality so customers can access more of the benefits the cloud brings. Sage has a strong digital and direct sales presence, supported by a global network of partners: 100,000 40,000 1,000 Dozens Accountants who advise and Value Added Resellers (VARs) Independent Software of Strategic Alliances sell Sage solutions who sell and implement Vendors (ISVs) who add with some of the biggest Sage solutions further functionality and names in technology vertical customisation to Sage solutions Read more about our solutions on page 29 OUR BUSINESS MODEL DELIVERING VALUE FOR THE WAY AHEAD INPUTS HOW WE ATTRACT AND RETAIN CUSTOMERS Trusted advisor AWARENESS ADOPT A trusted brand providing market leading customer service. & LAND Local knowledge Attract new customers New customers sign Our deep understanding of local regulation to Sage through brand up to Sage Business keeps our customers compliant and allows us to plan for new legislation on the horizon. awareness, targeted Cloud solutions on website campaigns subscription People and the sage.com Caring and committed colleagues, embracing website Customers on old Sage behaviours and values and invested licences are in driving success for our customers. Offer guides and reactivated and join Routes to market trials to prospective Sage on subscription Investing in our multi-channel approach of customers and cloud solutions direct sales channels, business partners and accountants helps us grow in our markets.
Load more

Recommended publications
  • Introduction to the Sage Group Plc
    Introduction to The Sage Group plc December 2013 An introduction to The Sage Group plc 1 Our vision Our vision is to be recognised as the most valuable supporter of small and medium sized companies by creating greater freedom for them to succeed. An introduction to The Sage Group plc 2 What we do We provide small and medium sized Businesses come in all shapes and sizes organisations with a range of easy-to-use and while every one of our customers is unique they have common technology business management software and needs - for simple, secure and smart services - from accounting and payroll, to solutions that reduce complexity and risk. enterprise resource planning, customer When they have problems that need relationship management and payments. resolving, they want to speak to a real person – someone they can trust. So we make sure we’re always there to listen and help. Our customers receive continuous advice and support through our global network of local experts to help them solve their business problems, giving them the confidence to achieve their business ambitions. An introduction to The Sage Group plc 3 Key facts about our organisation Market Finances Customers ‒ Global company with over ‒ Revenue of £1,376.1m** ‒ Provide advice to 12,700 employees* million for FY2013* customers through 1.9 ‒ Over 6 million customers ‒ Organic revenue growth of million support contracts* worldwide* 4% for 2013 (2012: 2%)* ‒ Manage around 36,000 ‒ One of the market ‒ EBITA £375.8m* customer calls each day* leaders in the UK, North ‒ Market capitalisation of ‒ Work with 22,600 reseller America, Europe, South approximately £4 billion* partners and more than Africa, Asia and Brazil 40,000* accountants ‒ More than 40 acquisitions since 1991 worldwide An introduction to The Sage Group plc *Data for financial year ending September 2013 4 ** Statutory revenue How we started An introduction to The Sage Group plc 5 How we work Our business is guided by our five principles which shape everything we do and how we do it.
    [Show full text]
  • The Sage Group Plc an Introduction
    The Sage Group plc An introduction February 2016 What we do Sage is the market leader for integrated accounting, payroll and payment systems, supporting the ambition of the world’s entrepreneurs. Sage began as a small business in the UK 35 years ago and over 13000 colleagues now support millions of entrepreneurs across 23 countries as they power the global economy. We reinvent and simplify business accounting through brilliant technology, working with a thriving community of entrepreneurs, business owners, tradespeople, accountants, partners and developers. And as a FTSE 100 business, we are active in supporting our local communities and invest in making a real difference through the philanthropy of the Sage Foundation. The Sage Group plc - an introduction 2 Key facts about our organization Market Finances Customers Global company with over Revenue of 13,000 £1.4bn 3m employees • One of the market leaders • Organic revenue growth of • Supporting customers, in the UK, North America, 6% for 2015 (2014: 5%)* managing over 30,000 calls Europe, South Africa, Asia • Organic operating profit each day and Brazil £380m* • Ecosystem including 100,000 • Local presence in 23 • Market capitalization of c. accountants globally countries globally £6bn The Sage Group plc - an introduction * Data for financial year ending 30 September 2015 3 How we started 1981 2005 2015 Entered the Polish market Sage founded in Newcastle Launch of upon Tyne by David Goldman, 1989 Sage Live Paul Muller and Graham Wylie 1999 2008 Listed on the London Stock and Sage Became
    [Show full text]
  • Wolters Kluwer Governance Roadshow
    Wolters Kluwer Governance Roadshow Selection & Remuneration Committee of the Supervisory Board of Wolters Kluwer November 2020 Governance Roadshow, November 2020 1 Forward-looking statements This presentation contains forward-looking statements. These statements may be identified by words such as "expect", "should", "could", "shall", and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions, conditions in the markets in which Wolters Kluwer is engaged, behavior of customers, suppliers and competitors, technological developments, the implementation and execution of new ICT systems or outsourcing, legal, tax, and regulatory rules affecting Wolters Kluwer's businesses, as well as risks related to mergers, acquisitions and divestments. In addition, financial risks, such as currency movements, interest rate fluctuations, liquidity and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Growth rates are cited in constant currencies unless otherwise noted. Governance Roadshow, November 2020 2 Agenda Wolters Kluwer NV - Selection & Remuneration Committee Current remuneration policy and how it links to strategy Remuneration consultation Proposed changes Proposed ESG measures in STIP Current policy versus proposed changes Next steps Appendix Governance Roadshow, November 2020 3 Selection & Remuneration Committee The Selection & Remuneration Committee is responsible for Executive Board succession planning and remuneration policy Frans Cremers Jeanette Horan Ann Ziegler .
    [Show full text]
  • Factset-Top Ten-0521.Xlsm
    Pax International Sustainable Economy Fund USD 7/31/2021 Port. Ending Market Value Portfolio Weight ASML Holding NV 34,391,879.94 4.3 Roche Holding Ltd 28,162,840.25 3.5 Novo Nordisk A/S Class B 17,719,993.74 2.2 SAP SE 17,154,858.23 2.1 AstraZeneca PLC 15,759,939.73 2.0 Unilever PLC 13,234,315.16 1.7 Commonwealth Bank of Australia 13,046,820.57 1.6 L'Oreal SA 10,415,009.32 1.3 Schneider Electric SE 10,269,506.68 1.3 GlaxoSmithKline plc 9,942,271.59 1.2 Allianz SE 9,890,811.85 1.2 Hong Kong Exchanges & Clearing Ltd. 9,477,680.83 1.2 Lonza Group AG 9,369,993.95 1.2 RELX PLC 9,269,729.12 1.2 BNP Paribas SA Class A 8,824,299.39 1.1 Takeda Pharmaceutical Co. Ltd. 8,557,780.88 1.1 Air Liquide SA 8,445,618.28 1.1 KDDI Corporation 7,560,223.63 0.9 Recruit Holdings Co., Ltd. 7,424,282.72 0.9 HOYA CORPORATION 7,295,471.27 0.9 ABB Ltd. 7,293,350.84 0.9 BASF SE 7,257,816.71 0.9 Tokyo Electron Ltd. 7,049,583.59 0.9 Munich Reinsurance Company 7,019,776.96 0.9 ASSA ABLOY AB Class B 6,982,707.69 0.9 Vestas Wind Systems A/S 6,965,518.08 0.9 Merck KGaA 6,868,081.50 0.9 Iberdrola SA 6,581,084.07 0.8 Compagnie Generale des Etablissements Michelin SCA 6,555,056.14 0.8 Straumann Holding AG 6,480,282.66 0.8 Atlas Copco AB Class B 6,194,910.19 0.8 Deutsche Boerse AG 6,186,305.10 0.8 UPM-Kymmene Oyj 5,956,283.07 0.7 Deutsche Post AG 5,851,177.11 0.7 Enel SpA 5,808,234.13 0.7 AXA SA 5,790,969.55 0.7 Nintendo Co., Ltd.
    [Show full text]
  • View Annual Report
    The Sage Group plc Annual Report & Accounts 2012 Giving small and medium sized companies the confidence and freedom to be successful Sage is a business guided by the diverse needs of more than six million unique customers in all four corners of the world From the intuitive design of our software to the expertise of our people, the fundamentals of our business are helping our customers achieve their ambitions, giving them the confidence and control they need to succeed. In this year’s Annual Report, we recognise some of our customers’ successes and the stories behind their businesses. From start-ups to Formula 1 racing teams, we are proud to be associated with each of our valued customers and happy to help them to do what they do best. Case studies showing how we are giving small and medium sized companies the confidence and freedom to be successful are on pages 34 to 39. Highlights • Strong growth in subscription revenues offset by a contraction in software revenues reflecting weakening economic environment in Europe and strategic shift to recurring revenue • Underlying earnings per share of 19.86p (2011: 20.28p*), reflecting an increase in tax rate to 29% from 23% • Good progress made with our three cornerstones to drive accelerated growth: focusing our business, capturing the technology opportunity and the benefits of subscription • A significant presence established in Brazil through the acquisition of Folhamatic and the subsequent acquisitions of EBS and Cenize • Strength of our offering to new and existing customers continues with the addition of 289,000 (2011: 261,000) new paying customers during the year and renewal rate on support contracts maintained at 81% Contents There is more Overview Chairman’s statement 2 information about the What we do 4 Sage Group online Setting the scene for our business and the markets in Where we do it 7 which we operate.
    [Show full text]
  • Wolters Kluwer Governance Roadshow
    Wolters Kluwer Governance Roadshow Selection & Remuneration Committee of the Supervisory Board of Wolters Kluwer September, 2020 Governance Roadshow, September 2020 1 Forward-looking statements This presentation contains forward-looking statements. These statements may be identified by words such as "expect", "should", "could", "shall", and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions, conditions in the markets in which Wolters Kluwer is engaged, behavior of customers, suppliers and competitors, technological developments, the implementation and execution of new ICT systems or outsourcing, legal, tax, and regulatory rules affecting Wolters Kluwer's businesses, as well as risks related to mergers, acquisitions and divestments. In addition, financial risks, such as currency movements, interest rate fluctuations, liquidity and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Growth rates are cited in constant currencies unless otherwise noted.
    [Show full text]
  • Annex 1: Parker Review Survey Results As at 2 November 2020
    Annex 1: Parker Review survey results as at 2 November 2020 The data included in this table is a representation of the survey results as at 2 November 2020, which were self-declared by the FTSE 100 companies. As at March 2021, a further seven FTSE 100 companies have appointed directors from a minority ethnic group, effective in the early months of this year. These companies have been identified through an * in the table below. 3 3 4 4 2 2 Company Company 1 1 (source: BoardEx) Met Not Met Did Not Submit Data Respond Not Did Met Not Met Did Not Submit Data Respond Not Did 1 Admiral Group PLC a 27 Hargreaves Lansdown PLC a 2 Anglo American PLC a 28 Hikma Pharmaceuticals PLC a 3 Antofagasta PLC a 29 HSBC Holdings PLC a InterContinental Hotels 30 a 4 AstraZeneca PLC a Group PLC 5 Avast PLC a 31 Intermediate Capital Group PLC a 6 Aveva PLC a 32 Intertek Group PLC a 7 B&M European Value Retail S.A. a 33 J Sainsbury PLC a 8 Barclays PLC a 34 Johnson Matthey PLC a 9 Barratt Developments PLC a 35 Kingfisher PLC a 10 Berkeley Group Holdings PLC a 36 Legal & General Group PLC a 11 BHP Group PLC a 37 Lloyds Banking Group PLC a 12 BP PLC a 38 Melrose Industries PLC a 13 British American Tobacco PLC a 39 Mondi PLC a 14 British Land Company PLC a 40 National Grid PLC a 15 BT Group PLC a 41 NatWest Group PLC a 16 Bunzl PLC a 42 Ocado Group PLC a 17 Burberry Group PLC a 43 Pearson PLC a 18 Coca-Cola HBC AG a 44 Pennon Group PLC a 19 Compass Group PLC a 45 Phoenix Group Holdings PLC a 20 Diageo PLC a 46 Polymetal International PLC a 21 Experian PLC a 47
    [Show full text]
  • Constituents & Weights
    2 FTSE Russell Publications 19 August 2021 FTSE 100 Indicative Index Weight Data as at Closing on 30 June 2021 Index weight Index weight Index weight Constituent Country Constituent Country Constituent Country (%) (%) (%) 3i Group 0.59 UNITED GlaxoSmithKline 3.7 UNITED RELX 1.88 UNITED KINGDOM KINGDOM KINGDOM Admiral Group 0.35 UNITED Glencore 1.97 UNITED Rentokil Initial 0.49 UNITED KINGDOM KINGDOM KINGDOM Anglo American 1.86 UNITED Halma 0.54 UNITED Rightmove 0.29 UNITED KINGDOM KINGDOM KINGDOM Antofagasta 0.26 UNITED Hargreaves Lansdown 0.32 UNITED Rio Tinto 3.41 UNITED KINGDOM KINGDOM KINGDOM Ashtead Group 1.26 UNITED Hikma Pharmaceuticals 0.22 UNITED Rolls-Royce Holdings 0.39 UNITED KINGDOM KINGDOM KINGDOM Associated British Foods 0.41 UNITED HSBC Hldgs 4.5 UNITED Royal Dutch Shell A 3.13 UNITED KINGDOM KINGDOM KINGDOM AstraZeneca 6.02 UNITED Imperial Brands 0.77 UNITED Royal Dutch Shell B 2.74 UNITED KINGDOM KINGDOM KINGDOM Auto Trader Group 0.32 UNITED Informa 0.4 UNITED Royal Mail 0.28 UNITED KINGDOM KINGDOM KINGDOM Avast 0.14 UNITED InterContinental Hotels Group 0.46 UNITED Sage Group 0.39 UNITED KINGDOM KINGDOM KINGDOM Aveva Group 0.23 UNITED Intermediate Capital Group 0.31 UNITED Sainsbury (J) 0.24 UNITED KINGDOM KINGDOM KINGDOM Aviva 0.84 UNITED International Consolidated Airlines 0.34 UNITED Schroders 0.21 UNITED KINGDOM Group KINGDOM KINGDOM B&M European Value Retail 0.27 UNITED Intertek Group 0.47 UNITED Scottish Mortgage Inv Tst 1 UNITED KINGDOM KINGDOM KINGDOM BAE Systems 0.89 UNITED ITV 0.25 UNITED Segro 0.69 UNITED KINGDOM
    [Show full text]
  • Corporate Governance
    CHAIRMAN’S INTRODUCTION CORPORATE GOVERNANCE The executive team is required to provide the information to the Board that the Board needs to enable it to exercise its judgement. It must also evidence appropriate process. There is a very fine distinction between the approval of processes and their definition. Only exceptionally would the Board intervene to initiate or define. The Board sets the tone for the Company. The way in which it conducts itself, its attitude to ethical matters, its definition of success, and the assessment of appropriate risk, all define the atmosphere within which the executive team works. The Board has ultimate responsibility for ensuring an appropriate culture in the Company to act as a backdrop to the way in which the Creating long-term sustainability Company behaves towards all stakeholders. Good corporate governance is not about adhering to codes Dear shareholder of practice (although adherence may constitute a part of the evidence of good governance) but rather about the exercise of It is important that we all remember the Board is not a a mindset to do what is right. One of the challenges facing any committee where individuals represent distinct interests Board is the way in which the Non-executive and the Executive but rather a risk managing and capital allocation body Directors interact. It is clear that they each have the same legal which, in addition to shaping the framework for strategic responsibility but it is generally unrealistic to expect Executive development, participates in and is accountable for the taking Directors to speak individually with the same freedom as the of appropriately calibrated risks.
    [Show full text]
  • Notice of General Meeting Circular
    THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about its contents or the action you should take, you are recommended to seek your own personal financial advice from your stockbroker or other independent professional adviser who, if you are taking advice in the United Kingdom, is authorised under the Financial Services and Markets Act 2000. If you have sold or otherwise transferred all your shares in London Stock Exchange Group plc, please forward this document, together with the accompanying documents, to the purchaser or transferee, or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee. London Stock Exchange Group plc 10 Paternoster Square London EC4M 7LS Telephone +44 (0)20 7797 1000 www.lseg.com 30 November 2017 Dear Shareholder, Notice of General Meeting requisitioned by a shareholder Introduction This letter sets out the reasons why the board (the “Board”) of London Stock Exchange Group plc (the “Company” or “LSEG”) unanimously believes that the removal of Donald Brydon from the Board is not in the best interests of the Company and further explains why the non-executive directors of the Company (the “Non-executive directors”) came to the view that the time was right for CEO succession planning. On 19 October 2017, LSEG announced that the Board was initiating a transition process to find a successor to the Company’s CEO, Xavier Rolet, who would leave by the end of December 2018 (the “19 October Announcement”). The Board believed, and continues to believe, this was in the best interests of the Company.
    [Show full text]
  • Abstimmungsergebnisse Deka Investment Gmbh
    Abstimmungsergebnisse Deka Investment GmbH Zeitraum: 1. Januar 2020 – 30. Dezember 2020 Abstimmungsergebnisse Deka Investment GmbH 1&1 Drillisch AG Meeting Date: 19/05/2020 Country: Germany Meeting Type: Annual Ticker: DRI Primary ISIN: DE0005545503 Primary SEDOL: 5734672 Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction 1 Receive Financial Statements and Statutory Mgmt Reports for Fiscal 2019 (Non-Voting) 2 Approve Allocation of Income and Dividends Mgmt For For of EUR 0.05 per Share 3.1 Approve Discharge of Management Board Mgmt For For Member Ralph Dommermuth for Fiscal 2019 3.2 Approve Discharge of Management Board Mgmt For For Member Andre Driesen for Fiscal 2019 3.3 Approve Discharge of Management Board Mgmt For For Member Markus Huhn for Fiscal 2019 3.4 Approve Discharge of Management Board Mgmt For For Member Alessandro Nava for Fiscal 2019 3.5 Approve Discharge of Management Board Mgmt For For Member Martin Witt for Fiscal 2019 4.1 Approve Discharge of Supervisory Board Mgmt For For Member Michael Scheeren for Fiscal 2019 4.2 Approve Discharge of Supervisory Board Mgmt For For Member Kai-Uwe Ricke for Fiscal 2019 4.3 Approve Discharge of Supervisory Board Mgmt For For Member Claudia Borgas-Herold for Fiscal 2019 4.4 Approve Discharge of Supervisory Board Mgmt For For Member Vlasios Choulidis for Fiscal 2019 4.5 Approve Discharge of Supervisory Board Mgmt For For Member Kurt Dobitsch for Fiscal 2019 4.6 Approve Discharge of Supervisory Board Mgmt For For Member Norbert Lang for Fiscal 2019 5 Ratify Ernst & Young
    [Show full text]
  • UNLEASHING the POWER of SUBSCRIPTION Worldreginfo - D17ac834-Db14-4F80-810B-Dabd340be251 We Are Unleashing the Power of Subscription Through…
    sage.com 2018 ANNUAL REPORT & ACCOUNTS INSIDE… CUSTOMER SUCCESS COLLEAGUE SUCCESS INNOVATION UNLEASHING THE POWER OF SUBSCRIPTION WorldReginfo - d17ac834-db14-4f80-810b-dabd340be251 We are unleashing the power of subscription through… Creating enduring subscription relationships and having a customer-centric approach Customer in everything we do success p. 26 Engaging every colleague at Sage and together creating an environment that values the Colleague individual, fosters collaboration and rewards all colleagues success p. 30 Strengthening our Sage Business Cloud offering and investing in emerging technologies whilst Innovation continuing to simplify the business p. 34 On the cover Esther Garcia, Be sure to take a founder of online fashion look at this report retailer Buylevard and on our website, Sage 50cloud customer sage.com/investors Annual Report and Accounts 2018 Sage Group plc WorldReginfo - d17ac834-db14-4f80-810b-dabd340be251 STRATEGIC REPORT Sage is the global market leader for technology that helps businesses of all sizes manage everything from money to people – whether they’re a start-up, scale-up or enterprise. Contents STRATEGIC REPORT Chairman’s statement Our investment case Our business model Donald Brydon’s introduction Key ingredients required to build How we create value for to FY18 a great SaaS business our stakeholders p. 4-5 p. 6-13 p. 14-15 In conversation with Our strategy to deliver Our key performance Steve Hare Our key strategic priorities indicators Setting the scene for FY19 Measuring progress against p. 16-20 p. 23 our objectives p. 24-25 Non-financial information statement ESG Our Business Sage Ethics & Our factsheet People Builders Foundation Governance Environment p.
    [Show full text]