The annual proxy for this British hospitality company had the following proposals:
- Proforma votes on directors, appointment of auditors, and compensation (actually the British version of the proposals)
- Proforma European votes on annual confirmation of authorities
Magni voted as follows:
- For and against proforma proposals.
-For and against directors – Three of the candidates were not independent. Magni voted for the independent directors and the company’s CEO, while voting against the other two executives.
-For auditors – There appear to be no controversies with the financial statements of the company.
-For remuneration – The practices were consistent with many British companies.
- For European proforma proposals. Under US laws and regulations, these matters are handled by the board, thus the topics do not warrant votes by shareholders of US companies. Magni usually votes in support of these topics, unless some controversy or issue has arisen that requires additional investigation or justifies a vote against.