Post on 29-Jun-2020
Voting November 2019
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: 11/01/2019 to 11/30/2019
Austal Limited
Meeting Date: 11/01/2019 Country: Australia
Meeting Type: Annual Ticker: ASB
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
For For Approve Remuneration Report 1
Against Against Approve the Spill Resolution 2
For For Elect Sarah Adam-Gedge as Director 3
For For Approve Rights Plan for Long and Short Term Incentives
4
For For Approve Issuance of Share Rights to Sarah Adam-Gedge
5
For For Approve Issuance of Share Rights to Chris Indermaur
6
For For Approve Issuance of LTI Rights to David Singleton
7
For For Approve Issuance of STI Rights to David Singleton
8
Collection House Limited
Meeting Date: 11/01/2019 Country: Australia
Meeting Type: Annual Ticker: CLH
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Michael Knox as Director For For
For For Approve Remuneration Report 2
Against For Approve 2019 Collection House Limited
Performance Rights Plan
3
Blended Rationale: A vote AGAINST this resolution is warranted because the terms of the plan is not in line with local market standards.Accelerated vesting used in a change in control
Against For Approve Issuance of Performance Rights to
Anthony Rivas
4
Blended Rationale: A vote AGAINST this resolution is warranted given that the terms of the grant are not in line with local market standards.Accelerated vesting used in a change in control
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Yanzhou Coal Mining Company Limited
Meeting Date: 11/01/2019 Country: China
Meeting Type: Special Ticker: 1171
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve 2019 Interim Profit Distribution Plan For For
Against For Approve Financial Services Agreement, Major and Continuing Connected Transactions, Annual
Caps and Related Transactions
2
Voter Rationale: the proposed related-party transaction may increase the company's exposure to unnecessary risks
Blended Rationale: the proposed related-party transaction may increase the company's exposure to unnecessary risks
FIBI Holdings Ltd.
Meeting Date: 11/04/2019 Country: Israel
Meeting Type: Annual Ticker: FIBIH
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Reelect Gil Bino as Director For For
For For Reelect Gary Stock as Director 1.2
For For Reelect Dafna Bino Or as Director 1.3
For For Reelect Harry Cooper as Director 1.4
For For Reelect Debbie Saperia as Director 1.5
For For Reappoint Somekh Chaikin as Auditors and
Authorize Board to Fix Their Remuneration
2
For For Elect Mordechai Meir as External Director 5
For For Approve Amended Compensation Policy for the
Directors and Officers of the Company
6
Against None Vote FOR if you are a controlling shareholder or have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager
A
Against None If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise, vote against.
B1
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
FIBI Holdings Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against None If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR.
Otherwise, vote against.
B2
For None If you are an Institutional Investor as defined in Regulation 1 of the Supervision Financial Services Regulations 2009 or a Manager of a Joint Investment Trust Fund as defined in the Joint Investment Trust Law, 1994, vote FOR. Otherwise, vote against.
B3
Amcor plc
Meeting Date: 11/05/2019 Country: Jersey
Meeting Type: Annual Ticker: AMCR
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1a Elect Director Graeme Liebelt For For
For For Elect Director Armin Meyer 1b
For For Elect Director Ronald Delia 1c
For For Elect Director Andrea Bertone 1d
For For Elect Director Karen Guerra 1e
For For Elect Director Nicholas (Tom) Long 1f
For For Elect Director Arun Nayar 1g
For For Elect Director Jeremy Sutcliffe 1h
For For Elect Director David Szczupak 1i
For For Elect Director Philip Weaver 1j
For For Ratify PricewaterhouseCoopers LLP as Auditors 2
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
3
Voter Rationale: The minimum vesting period is less than three years.
Blended Rationale: The minimum vesting period is less than three years.
One Year One Year Advisory Vote on Say on Pay Frequency 4
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Eurocommercial Properties NV
Meeting Date: 11/05/2019 Country: Netherlands
Meeting Type: Annual Ticker: ECMPA
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
3 Adopt Financial Statements and Statutory Reports
For For
For For Approve Dividends of EUR 0.218 Per Share and EUR 2.18 per Depositary Receipt
4A
For For Approve Discharge of Management Board 5
For For Approve Discharge of Supervisory Board 6
For For Elect K. Laglas to Supervisory Board 7A
For For Approve Remuneration of Supervisory Board 8
For For Approve Remuneration Policy for Management Board
9
For For Ratify KPMG as Auditors 10
For For Grant Board Authority to Issue Shares Up To 10 Percent of Issued Capital and Exclude
Pre-emptive Rights
11
For For Authorize Repurchase of Shares and/or Depositary Receipts
12
KLA Corporation
Meeting Date: 11/05/2019 Country: USA
Meeting Type: Annual Ticker: KLAC
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.1 Elect Director Edward Barnholt For For
For For Elect Director Robert Calderoni 1.2
For For Elect Director Jeneanne Hanley 1.3
For For Elect Director Emiko Higashi 1.4
For For Elect Director Kevin Kennedy 1.5
For For Elect Director Gary Moore 1.6
For For Elect Director Kiran Patel 1.7
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
KLA Corporation Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Victor Peng 1.8
For For Elect Director Robert Rango 1.9
For For Elect Director Richard Wallace 1.10
For For Ratify PricewaterhouseCoopers LLP as Auditors 2
Against For Advisory Vote to Ratify Named Executive Officers' Compensation
3
Blended Rationale: The minimum vesting period is less than three years.
Lam Research Corporation
Meeting Date: 11/05/2019 Country: USA
Meeting Type: Annual Ticker: LRCX
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.1 Elect Director Sohail U. Ahmed For For
For For Elect Director Timothy M. Archer 1.2
For For Elect Director Eric K. Brandt 1.3
For For Elect Director Michael R. Cannon 1.4
For For Elect Director Youssef A. El-Mansy 1.5
For For Elect Director Catherine P. Lego 1.6
For For Elect Director Bethany J. Mayer 1.7
For For Elect Director Abhijit Y. Talwalkar 1.8
For For Elect Director Lih Shyng (Rick L.) Tsai 1.9
For For Elect Director Leslie F. Varon 1.10
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
2
Blended Rationale: The minimum vesting period is less than three years.A vote AGAINST this proposal is warranted. The short-term program relies heavily on individual performance assessments, which is increasingly rare for S&P 500 companies. Further, the financial goal in the STI program was set below last year's performance level, while payouts were above target. Moreover, the internally promoted CEO received entirely time-based promotional awards and the CFO received a sizable time-based retention grant as well. Both grants have relatively short vesting periods, limiting their retentive value. Additionally, investors generally prefer for at least a portion of special grants to maintain pre-set performance criteria.
For For Ratify Ernst & Young LLP as Auditors 3
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Low & Bonar Plc
Meeting Date: 11/05/2019 Country: United Kingdom
Meeting Type: Special Ticker: LWB
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Matters Relating to the Recommended Cash Acquisition of Low & Bonar plc by FV
Beteiligungs-GmbH
For For
Low & Bonar Plc
Meeting Date: 11/05/2019 Country: United Kingdom
Meeting Type: Court Ticker: LWB
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Scheme of Arrangement For For
PNC Funds
Meeting Date: 11/05/2019 Country: USA
Meeting Type: Special Ticker: N/A
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Reorganization of Funds between PNC Government Money Market Fund and Federated
Government Obligations Fund
For For
S.N.G.N. Romgaz S.A
Meeting Date: 11/05/2019 Country: Romania
Meeting Type: Special Ticker: SNG
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
S.N.G.N. Romgaz S.A
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Gas Sale and Purchase Agreement with
SC Electrocentrale Bucuresti SA
For For
For For Authorize Filing of Required Documents/Other
Formalities
2
Trakya Cam Sanayii AS
Meeting Date: 11/05/2019 Country: Turkey
Meeting Type: Special Ticker: TRKCM
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Presiding Council of Meeting and Authorize Presiding Council to Sign Minutes of Meeting
For For
For For Amend Company Articles 2
Wilmington plc
Meeting Date: 11/05/2019 Country: United Kingdom
Meeting Type: Annual Ticker: WIL
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Remuneration Report 2
For For Approve Final Dividend 3
For For Re-elect Martin Morgan as Director 4
For For Elect Mark Milner as Director 5
For For Re-elect Richard Amos as Director 6
For For Re-elect Derek Carter as Director 7
For For Re-elect Nathalie Schwarz as Director 8
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Wilmington plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Re-elect Paul Dollman as Director 9
For For Appoint Grant Thornton UK LLP as Auditors 10
For For Authorise Board to Fix Remuneration of Auditors 11
For For Authorise Issue of Equity 12
For For Authorise Issue of Equity without Pre-emptive Rights
13
For For Authorise Market Purchase of Ordinary Shares 14
For For Authorise the Company to Call General Meeting with Two Weeks' Notice
15
Yuexiu Transport Infrastructure Limited
Meeting Date: 11/05/2019 Country: Bermuda
Meeting Type: Special Ticker: 1052
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Agreement Entered into Between Guangzhou Yue Xiu Enterprises (Holding) Limited and Guangzhou Yueda Investment
Company Limited and Related Transactions
For For
Adtalem Global Education Inc.
Meeting Date: 11/06/2019 Country: USA
Meeting Type: Annual Ticker: ATGE
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.1 Elect Director Steven M. Altschuler For For
For For Elect Director William W. Burke 1.2
For For Elect Director Donna J. Hrinak 1.3
For For Elect Director Georgette Kiser 1.4
For For Elect Director Lyle Logan 1.5
For For Elect Director Michael W. Malafronte 1.6
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Adtalem Global Education Inc. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Lisa W. Wardell 1.7
For For Elect Director James D. White 1.8
For For Ratify PricewaterhouseCoopers LLP as Auditors 2
For For Advisory Vote to Ratify Named Executive Officers' Compensation
3
For For Approve Qualified Employee Stock Purchase Plan
4
Anhui Zhongding Sealing Parts Co., Ltd.
Meeting Date: 11/06/2019 Country: China
Meeting Type: Special Ticker: 000887
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Change in Partial Raised Funds
Investment Project
For For
For For Approve Change in Usage of Raised Funds to
Acquire Equity and Capital Increase
2
For For Approve Guarantee Provision Plan 3
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
For For Approve Change in Partial Raised Funds Investment Project
1
For For Approve Change in Usage of Raised Funds to Acquire Equity and Capital Increase
2
For For Approve Guarantee Provision Plan 3
Aveo Group
Meeting Date: 11/06/2019 Country: Australia
Meeting Type: Court Ticker: AOG
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Aveo Group
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Scheme of Arrangement in Relation to the Proposed Acquisition of the Company by Hydra RL BidCo Pty Ltd
For For
For For Approve Amendment of the Aveo Group Trust
Constitution
1
For For Approve Acquisition of Aveo Group Trust Units 2
Boral Limited
Meeting Date: 11/06/2019 Country: Australia
Meeting Type: Annual Ticker: BLD
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2.1 Elect Eileen Doyle as Director For For
For For Elect Karen Moses as Director 2.2
Against For Approve Remuneration Report 3
Voter Rationale: NTA growth bottom quartile
Blended Rationale: NTA growth bottom quartile
For For Approve Grant of Long-Term Incentive Rights to Mike Kane
4
Cardinal Health, Inc.
Meeting Date: 11/06/2019 Country: USA
Meeting Type: Annual Ticker: CAH
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Colleen F. Arnold For For
For For Elect Director Carrie S. Cox 1.2
For For Elect Director Calvin Darden 1.3
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Cardinal Health, Inc. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Bruce L. Downey 1.4
For For Elect Director Patricia A. Hemingway Hall 1.5
For For Elect Director Akhil Johri 1.6
For For Elect Director Michael C. Kaufmann 1.7
For For Elect Director Gregory B. Kenny 1.8
For For Elect Director Nancy Killefer 1.9
For For Elect Director J. Michael Losh 1.10
For For Elect Director Dean A. Scarborough 1.11
For For Elect Director John H. Weiland 1.12
For For Ratify Ernst & Young LLP as Auditors 2
Against For Advisory Vote to Ratify Named Executive Officers' Compensation
3
Blended Rationale: The minimum vesting period is less than three years.
Corporate Travel Management Limited
Meeting Date: 11/06/2019 Country: Australia
Meeting Type: Annual Ticker: CTD
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve the Remuneration Report None For
For For Elect Laura Ruffles as Director 2
For For Elect Ewen Crouch as Director 3
For For Elect Sophie Mitchell as Director 4
For None Approve Issuance of Share Appreciation Rights
to Laura Ruffles
5
For None Approve Share Appreciation Rights Plan 6
For None Approve the Increase in Non-Executive
Directors' Fee Pool
7
For For Approve Proportional Takeover Provisions 8
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Decmil Group Ltd.
Meeting Date: 11/06/2019 Country: Australia
Meeting Type: Annual Ticker: DCG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Elect David Saxelby as Director 2
For For Elect Bill Healy as Director 3
For For Approve Issuance of Performance Rights to Dickie Dique
4
Estia Health Ltd.
Meeting Date: 11/06/2019 Country: Australia
Meeting Type: Annual Ticker: EHE
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Approve Remuneration Report For For
For For Elect Gary Weiss as Director 3
For For Elect Paul Foster as Director 4
For For Approve Grant of Performance Rights to Ian
Thorley
5
For For Approve the Increase in Maximum Aggregate
Remuneration of Non-Executive Directors
6
Jumbo SA
Meeting Date: 11/06/2019 Country: Greece
Meeting Type: Annual Ticker: BELA
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Allocation of Income and Dividends 2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Jumbo SA Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Director Remuneration 3
For For Approve Discharge of Board and Auditors 4
Against For Approve Remuneration Policy 5
Voter Rationale: There are no variable incentives.
Blended Rationale: There are no variable incentives.
Against For Elect Directors (Bundled) 6
Voter Rationale: Poor attendance of the chairman.
Blended Rationale: Poor attendance of the chairman.
For For Elect Members of Audit Committee 7
For For Change Fiscal Year End 8
For For Amend Company Articles 9
Against For Approve Auditors and Fix Their Remuneration 10
Voter Rationale: Audit fees are not disclosed.
Blended Rationale: Audit fees are not disclosed.
Redrow Plc
Meeting Date: 11/06/2019 Country: United Kingdom
Meeting Type: Annual Ticker: RDW
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Final Dividend 2
For For Re-elect John Tutte as Director 3
For For Elect Matthew Pratt as Director 4
For For Re-elect Barbara Richmond as Director 5
For For Re-elect Nick Hewson as Director 6
For For Re-elect Sir Michael Lyons as Director 7
For For Re-elect Vanda Murray as Director 8
For For Appoint KPMG LLP as Auditors 9
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Redrow Plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorise Board to Fix Remuneration of Auditors 10
For For Approve Remuneration Report 11
For For Authorise Issue of Equity 12
For For Authorise Issue of Equity without Pre-emptive Rights
13
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or
Other Capital Investment
14
For For Authorise the Company to Call General Meeting with Two Weeks' Notice
15
Schroder Japan Growth Fund Plc
Meeting Date: 11/06/2019 Country: United Kingdom
Meeting Type: Annual Ticker: SJG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Final Dividend 2
For For Approve Remuneration Report 3
For For Re-elect Anja Balfour as Director 4
For For Re-elect Alan Gibbs as Director 5
For For Re-elect Richard Greer as Director 6
For For Re-elect Belinda Richards as Director 7
For For Approve Continuation of Company as
Investment Trust
8
For For Appoint Deloitte LLP as Auditors 9
For For Authorise Board to Fix Remuneration of Auditors 10
For For Authorise Issue of Equity 11
For For Authorise Issue of Equity without Pre-emptive
Rights
12
For For Authorise Market Purchase of Ordinary Shares 13
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Sinopec Oilfield Service Corporation
Meeting Date: 11/06/2019 Country: China
Meeting Type: Special Ticker: 1033
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Provision of Counter-Guarantee to China Petrochemical Corporation
For For
For For Approve Fulfillment of Undertakings Related to the Exploration IV Drill Rig
2
For For Approve Amendments to Articles of Association 3
AVI Ltd.
Meeting Date: 11/07/2019 Country: South Africa
Meeting Type: Annual Ticker: AVI
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory
Reports for the Year Ended 30 June 2019
For For
For For Reappoint Ernst & Young Inc as Auditors of the
Company
2
For For Re-elect James Hersov as Director 3
For For Re-elect Michael Koursaris as Director 4
For For Re-elect Simon Crutchley as Director 5
For For Elect Alexandra Muller as Director 6
For For Re-elect Michael Bosman as Chairman of the
Audit and Risk Committee
7
For For Re-elect James Hersov as Member of the Audit
and Risk Committee
8
For For Elect Alexandra Muller as Member of the Audit
and Risk Committee
9
For For Approve Fees Payable to the Current Non-executive Directors, Excluding the Chairman of the Board and the Foreign Non-executive Director, Adriaan Nuhn
10
For For Approve Fees Payable to the Chairman of the
Board
11
For For Approve Fees Payable to the Foreign
Non-executive Director, Adriaan Nuhn
12
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
AVI Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Fees Payable to the Members of the Remuneration, Nomination and Appointments
Committee
13
For For Approve Fees Payable to the Members of the Audit and Risk Committee
14
For For Approve Fees Payable to the Members of the Social and Ethics Committee
15
For For Approve Fees Payable to the Chairman of the Remuneration, Nomination and Appointments
Committee
16
For For Approve Fees Payable to the Chairman of the Audit and Risk Committee
17
For For Approve Fees Payable to the Chairman of the Social and Ethics Committee
18
For For Authorise Repurchase of Issued Share Capital 19
For For Approve Remuneration Policy 20
For For Approve Implementation Report 21
BHP Group Limited
Meeting Date: 11/07/2019 Country: Australia
Meeting Type: Annual Ticker: BHP
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Appoint Ernst & Young as Auditor of the
Company
2
For For Authorize the Risk and Audit Committee to Fix
Remuneration of the Auditors
3
For For Approve General Authority to Issue Shares in
BHP Group Plc
4
For For Approve General Authority to Issue Shares in
BHP Group Plc for Cash
5
For For Approve the Repurchase of Shares in BHP
Group Plc
6
For For Approve Remuneration Policy 7
For For Approve Remuneration Report for UK Law
Purposes
8
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
BHP Group Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Remuneration Report for Australian Law Purposes
9
For For Approve the Grant of Awards to Andrew Mackenzie
10
For For Elect Ian Cockerill as Director 11
For For Elect Susan Kilsby as Director 12
For For Elect Terry Bowen as Director 13
For For Elect Malcolm Broomhead as Director 14
For For Elect Anita Frew as Director 15
For For Elect Andrew Mackenzie as Director 16
For For Elect Lindsay Maxsted as Director 17
For For Elect John Mogford as Director 18
For For Elect Shriti Vadera as Director 19
For For Elect Ken MacKenzie as Director 20
Against Against Amend Constitution of BHP Group Limited 21
Against Against Approve Suspension of Memberships of Industry Associations That Are Involved in Lobbying Inconsistent with the Goals of the Paris Agreement
22
BHP Group Limited
Meeting Date: 11/07/2019 Country: Australia
Meeting Type: Annual Ticker: BHP
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Appoint Ernst & Young as Auditor of the
Company
2
For For Authorize the Risk and Audit Committee to Fix
Remuneration of the Auditors
3
For For Approve General Authority to Issue Shares in
BHP Group Plc
4
For For Approve General Authority to Issue Shares in
BHP Group Plc for Cash
5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
BHP Group Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve the Repurchase of Shares in BHP Group Plc
6
For For Approve Remuneration Policy 7
For For Approve Remuneration Report for UK Law Purposes
8
For For Approve Remuneration Report for Australian Law Purposes
9
For For Approve the Grant of Awards to Andrew Mackenzie
10
For For Elect Ian Cockerill as Director 11
For For Elect Susan Kilsby as Director 12
For For Elect Terry Bowen as Director 13
For For Elect Malcolm Broomhead as Director 14
For For Elect Anita Frew as Director 15
For For Elect Andrew Mackenzie as Director 16
For For Elect Lindsay Maxsted as Director 17
For For Elect John Mogford as Director 18
For For Elect Shriti Vadera as Director 19
For For Elect Ken MacKenzie as Director 20
Against Against Amend Constitution of BHP Group Limited 21
Against Against Approve Suspension of Memberships of Industry Associations That Are Involved in Lobbying Inconsistent with the Goals of the Paris Agreement
22
City Lodge Hotels Ltd.
Meeting Date: 11/07/2019 Country: South Africa
Meeting Type: Annual Ticker: CLH
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports for the Year Ended 30 June 2019
For For
For For Re-elect Frank Kilbourn as Director 2.1
For For Re-elect Sizakele Marutlulle as Director 2.2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
City Lodge Hotels Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Re-elect Vincent Rague as Director 2.3
For For Reappoint KPMG Inc as Auditors of the Company with Dwight Thompson as the Designated Partner and Authorise Their Remuneration
3
For For Re-elect Stuart Morris as Chairman of the Audit Committee
4.1
For For Re-elect Deon Huysamer as Member of the Audit Committee
4.2
For For Re-elect Frank Kilbourn as Member of the Audit Committee
4.3
For For Re-elect Ndumi Medupe as Member of the Audit Committee
4.4
For For Authorise Ratification of Approved Resolutions 5
For For Approve Remuneration Policy 6.1
For For Approve Implementation Report 6.2
For For Approve Fees of Chairman of the Board 7.1
For For Approve Fees of Lead Independent Director 7.2
For For Approve Fees for Services as a Director 7.3
For For Approve Fees of Chairman of the Audit Committee
7.4
For For Approve Fees of Other Audit Committee Members
7.5
For For Approve Fees of Chairman of the Remuneration Committee
7.6
For For Approve Fees of Other Remuneration Committee Members
7.7
For For Approve Fees of Chairman of the Risk Committee
7.8
For For Approve Fees of Other Risk Committee Members
7.9
For For Approve Fees of Chairman of the Social and Ethics Committee
7.10
For For Approve Fees of Ad hoc/Temporary Committee 7.11
For For Approve Financial Assistance in Terms of Sections 44 and 45 of the Companies Act
8
For For Authorise Repurchase of Issued Share Capital 9
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Country Garden Services Holdings Company Limited
Meeting Date: 11/07/2019 Country: Cayman Islands
Meeting Type: Special Ticker: 6098
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Proposed Amendment to Terms of the Share Option Scheme
For Against
Voter Rationale: Some of the beneficiaries of the scheme are also involved in its administration.
Blended Rationale: Some of the beneficiaries of the scheme are also involved in its administration.
Downer EDI Limited
Meeting Date: 11/07/2019 Country: Australia
Meeting Type: Annual Ticker: DOW
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2a Elect Peter Watson as Director For For
For For Elect Teresa Handicott as Director 2b
For For Elect Charles Grant Thorne as Director 2c
Against For Approve Remuneration Report 3
Voter Rationale: Bottom Quartile NTA growth over 5 years
Blended Rationale: Bottom Quartile NTA growth over 5 years
Against For Approve Grant of Performance Rights to Grant
Fenn
4
Voter Rationale: The value of the LTI grant at $2,000,000 is excessive compared to Australian-peer companies.
Blended Rationale: The value of the LTI grant at $2,000,000 is excessive compared to Australian-peer companies.
For For Approve Reinsertion of the Proportional
Takeover Provisions
5
Eutelsat Communications SA
Meeting Date: 11/07/2019 Country: France
Meeting Type: Annual/Special Ticker: ETL
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Eutelsat Communications SA
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Financial Statements and Statutory
Reports
For For
For For Approve Consolidated Financial Statements and
Statutory Reports
2
For For Approve Auditors' Special Report on
Related-Party Transactions
3
For For Approve Allocation of Income and Dividends of
EUR 1.27 per Share
4
For For Elect Cynthia Gordon as Director 5
For For Reelect Ana Garcia Fau as Director 6
For For Approve Compensation of Dominique D Hinnin,
Chairman of the Board
7
For For Approve Compensation of Rodolphe Belmer,
CEO
8
For For Approve Compensation of Michel Azibert,
Vice-CEO
9
For For Approve Compensation of Yohann Leroy,
Vice-CEO
10
For For Approve Remuneration Policy of Chairman of
the Board
11
Against For Approve Remuneration Policy of CEO 12
Voter Rationale: Lack of disclosure around new CSR target in the bonus and the LTIP.
Blended Rationale: Lack of disclosure around new CSR target in the bonus and the LTIP.
Against For Approve Remuneration Policy of Vice-CEOs 13
Voter Rationale: Lack of disclosure around new CSR target in the bonus and the LTIP.
Blended Rationale: Lack of disclosure around new CSR target in the bonus and the LTIP.
For For Authorize Repurchase of Up to 10 Percent of
Issued Share Capital
14
For For Authorize Decrease in Share Capital via
Cancellation of Repurchased Shares
15
For For Authorize Capitalization of Reserves of Up to EUR 44 Million for Bonus Issue or Increase in Par Value
16
For For Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 44 Million
17
For For Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 22 Million
18
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Eutelsat Communications SA Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Issuance of Equity or Equity-Linked Securities for Private Placements, up to
Aggregate Nominal Amount of EUR 22 Million
19
For For Authorize Board to Set Issue Price for 10 Percent Per Year of Issued Capital Pursuant to
Issue Authority without Preemptive Rights
20
For For Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation
Submitted to Shareholder Vote Above
21
For For Authorize Capital Increase of Up to EUR 22 Million for Future Exchange Offers
22
For For Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind
23
For For Authorize Issuance of Equity upon Conversion of a Subsidiary's Equity-Linked Securities for Up to
EUR 22 Million
24
For For Authorize Capital Issuances for Use in Employee Stock Purchase Plans
25
For For Authorize Filing of Required Documents/Other Formalities
26
Extreme Networks, Inc.
Meeting Date: 11/07/2019 Country: USA
Meeting Type: Annual Ticker: EXTR
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Charles P. Carinalli For For
For For Elect Director Kathleen M. Holmgren 1.2
For For Elect Director Rajendra Khanna 1.3
For For Elect Director Edward H. Kennedy 1.4
For For Elect Director Edward B. Meyercord 1.5
For For Elect Director John C. Shoemaker 1.6
For For Elect Director Ingrid J. Burton 1.7
For For Advisory Vote to Ratify Named Executive
Officers' Compensation
2
For For Ratify KPMG LLP as Auditors 3
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Extreme Networks, Inc. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Amend NOL Rights Plan (NOL Pill) 4
For For Amend Omnibus Stock Plan 5
Hugel, Inc.
Meeting Date: 11/07/2019 Country: South Korea
Meeting Type: Special Ticker: 145020
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Reduction in Capital For For
Maxim Integrated Products, Inc.
Meeting Date: 11/07/2019 Country: USA
Meeting Type: Annual Ticker: MXIM
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1a Elect Director William (Bill) P. Sullivan For For
For For Elect Director Tunc Doluca 1b
For For Elect Director Tracy C. Accardi 1c
For For Elect Director James R. Bergman 1d
For For Elect Director Joseph R. Bronson 1e
For For Elect Director Robert E. Grady 1f
For For Elect Director Mercedes Johnson 1g
For For Elect Director William D. Watkins 1h
For For Elect Director MaryAnn Wright 1i
For For Ratify PricewaterhouseCoopers LLP as Auditors 2
For For Advisory Vote to Ratify Named Executive Officers' Compensation
3
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Medusa Mining Limited
Meeting Date: 11/07/2019 Country: Australia
Meeting Type: Annual Ticker: MML
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Roy Daniel as Director For Against
Voter Rationale: Lack of independence on the board.
Blended Rationale: Lack of independence on the board.
For None Approve Remuneration Report 2
Against Against Approve the Spill Resolution 3
Nationwide Building Society
Meeting Date: 11/07/2019 Country: United Kingdom
Meeting Type: Bondholder Ticker: NBS
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Extraordinary Resolution as per
Meeting Notice
For For
SKSHU Paint Co., Ltd.
Meeting Date: 11/07/2019 Country: China
Meeting Type: Special Ticker: 603737
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Hong Jie as Non-Independent Director For For
For For Elect Lin Lizhong as Non-Independent Director 1.2
For For Elect Zhu Qifeng as Non-Independent Director 1.3
For For Elect Mi Li as Non-Independent Director 1.4
For For Elect Qu Xiaohui as Independent Director 2.1
For For Elect Shen Weitao as Independent Director 2.2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
SKSHU Paint Co., Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Zhu Yansheng as Independent Director 2.3
For For Elect Huang Zhisheng as Supervisor 3.1
For For Elect Cai Weiting as Supervisor 3.2
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
For For Elect Hong Jie as Non-Independent Director 1.1
For For Elect Lin Lizhong as Non-Independent Director 1.2
For For Elect Zhu Qifeng as Non-Independent Director 1.3
For For Elect Mi Li as Non-Independent Director 1.4
For For Elect Qu Xiaohui as Independent Director 2.1
For For Elect Shen Weitao as Independent Director 2.2
For For Elect Zhu Yansheng as Independent Director 2.3
For For Elect Huang Zhisheng as Supervisor 3.1
For For Elect Cai Weiting as Supervisor 3.2
Spark New Zealand Ltd.
Meeting Date: 11/07/2019 Country: New Zealand
Meeting Type: Annual Ticker: SPK
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Authorize Board to Fix Remuneration of the Auditors
For For
For For Elect Justine Smyth as Director 2
For For Elect Warwick Bray as Director 3
For For Elect Jolie Hodson as Director 4
For For Adopt New Constitution 5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Sun Hung Kai Properties Limited
Meeting Date: 11/07/2019 Country: Hong Kong
Meeting Type: Annual Ticker: 16
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Final Dividend 2
For For Elect Kwok Kai-Chun, Geoffrey as Director 3.1a
For For Elect Wu Xiang-Dong as Director 3.1b
For For Elect Kwok Ping-Luen, Raymond as Director 3.1c
For For Elect Wong Chik-Wing, Mike as Director 3.1d
For For Elect Li Ka-Cheung, Eric as Director 3.1e
For For Elect Leung Ko May-Yee, Margaret as Director 3.1f
For For Elect Kwok Kai-Wang, Christopher as Director 3.1g
For For Elect Tung Chi-Ho, Eric as Director 3.1h
For For Approve Directors' Fees 3.2
For For Approve Deloitte Touche Tohmatsu as Auditor and Authorize Board to Fix Their Remuneration
4
For For Authorize Repurchase of Issued Share Capital 5
Against For Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights
6
Voter Rationale: Dilution limit is not disclosed.
Blended Rationale: Dilution limit is not disclosed.
Against For Authorize Reissuance of Repurchased Shares 7
Voter Rationale: Dilution limit is not disclosed.
Blended Rationale: Dilution limit is not disclosed.
Tapestry, Inc.
Meeting Date: 11/07/2019 Country: USA
Meeting Type: Annual Ticker: TPR
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Tapestry, Inc.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1A Elect Director Darrell Cavens For For
For For Elect Director David Denton 1B
For For Elect Director Anne Gates 1C
For For Elect Director Andrea Guerra 1D
For For Elect Director Susan Kropf 1E
For For Elect Director Annabelle Yu Long 1F
For For Elect Director Ivan Menezes 1G
For For Elect Director Jide Zeitlin 1H
For For Ratify Deloitte & Touche LLP as Auditors 2
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
3
Blended Rationale: The minimum vesting period is less than three years.
Against For Amend Omnibus Stock Plan 4
Blended Rationale: The dilution exceeds 10 percent.The minimum vesting period is less than three years.
Truworths International Ltd.
Meeting Date: 11/07/2019 Country: South Africa
Meeting Type: Annual Ticker: TRU
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory
Reports for the Year Ended 30 June 2019
For For
For For Re-elect Rob Dow as Director 2.1
For For Re-elect Michael Thompson as Director 2.2
For For Re-elect Doug Dare as Director 2.3
For For Re-elect Roddy Sparks as Director 2.4
For For Elect Sarah Proudfoot as Director 2.5
For For Elect Cindy Hess as Director 2.6
For For Authorise Board to Issue Shares for Cash 3
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Truworths International Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorise Repurchase of Issued Share Capital 4
For For Reappoint Ernst & Young Inc as Auditors of the Company and Appoint Pierre du Plessis as the Registered Auditor and Authorise Their Remuneration
5
For For Approve Fees of the Non-executive Chairman 6.1
For For Approve Fees of the Non-executive Directors 6.2
For For Approve Fees of the Audit Committee Chairman 6.3
For For Approve Fees of the Audit Committee Member 6.4
For For Approve Fees of the Remuneration Committee Chairman
6.5
For For Approve Fees of the Remuneration Committee Member
6.6
For For Approve Fees of the Risk Committee Member (Non-executive Only)
6.7
For For Approve Fees of the Nomination Committee Chairman
6.8
For For Approve Fees of the Nomination Committee Member
6.9
For For Approve Fees of the Social and Ethics Committee Chairman
6.10
For For Approve Fees of the Social and Ethics Committee Member (Non-executive Only)
6.11
For For Re-elect Roddy Sparks as Member of the Audit Committee
7.1
For For Re-elect Michael Thompson as Member of the Audit Committee
7.2
For For Re-elect Rob Dow as Member of the Audit Committee
7.3
Against For Approve Remuneration Policy 8.1
Voter Rationale: Dividend accruals for unvested performance shares have been introduced under the policy
Blended Rationale: Dividend accruals for unvested performance shares have been introduced under the policy
For For Approve Implementation Report 8.2
For For Approve Social and Ethics Committee Report 9
For For Re-elect Michael Thompson as Member of the Social and Ethics Committee
10.1
For For Elect Maya Makanjee as Member of the Social and Ethics Committee
10.2
For For Re-elect David Pfaff as Member of the Social and Ethics Committee
10.3
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Truworths International Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Financial Assistance to Related or Inter-related Company
11
China Pacific Insurance (Group) Co., Ltd.
Meeting Date: 11/08/2019 Country: China
Meeting Type: Special Ticker: 2601
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Issuance and Admission of GDRs For Abstain
Voter Rationale: May not be in the best interests for shareholders.
Blended Rationale: May not be in the best interests for shareholders.
Abstain For Approve Validity Period of the Resolutions in Respect of the Issuance and Admission of GDRs
2
Voter Rationale: May not be in the best interests for shareholders.
Blended Rationale: May not be in the best interests for shareholders.
Abstain For Authorize Board to Deal with All Matters in Relation to the Issuance and Admission of GDRs
3
Voter Rationale: May not be in the best interests for shareholders.
Blended Rationale: May not be in the best interests for shareholders.
Abstain For Approve Distribution of Accumulated Profits Prior to the Issuance and Admission of GDRs
4
Voter Rationale: May not be in the best interests for shareholders.
Blended Rationale: May not be in the best interests for shareholders.
Abstain For Approve Plan for the Use of Proceeds from the Issuance and Admission of GDRs
5
Voter Rationale: May not be in the best interests for shareholders.
Blended Rationale: May not be in the best interests for shareholders.
Abstain For Approve Purchase of Prospectus Liability Insurance for Directors, Supervisors and Senior
Management Members
6
Voter Rationale: May not be in the best interests for shareholders.
Blended Rationale: May not be in the best interests for shareholders.
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
China Pacific Insurance (Group) Co., Ltd.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Issuance and Admission of GDRs 1
For For Approve Validity Period of the Resolutions in
Respect of the Issuance and Admission of GDRs
2
For For Authorize Board to Deal with All Matters in
Relation to the Issuance and Admission of GDRs
3
For For Approve Distribution of Accumulated Profits
Prior to the Issuance and Admission of GDRs
4
For For Approve Plan for the Use of Proceeds from the
Issuance and Admission of GDRs
5
For For Approve Purchase of Prospectus Liability Insurance for Directors, Supervisors and Senior Management Members
6
Future Retail Limited
Meeting Date: 11/08/2019 Country: India
Meeting Type: Special Ticker: 540064
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Material Related Party Transactions For Against
Voter Rationale: Lack of disclosure so unable to make an informed decision.
Blended Rationale: Lack of disclosure so unable to make an informed decision.
Grupo Financiero Inbursa SAB de CV
Meeting Date: 11/08/2019 Country: Mexico
Meeting Type: Special Ticker: GFINBURO
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Amend Article 2 For For
For For Authorize Board to Ratify and Execute Approved
Resolutions
2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Grupo Financiero Inbursa SAB de CV
Meeting Date: 11/08/2019 Country: Mexico
Meeting Type: Special Ticker: GFINBURO
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect or Ratify Directors and Company Secretary For For
For For Elect or Ratify Members of Corporate Practices and Audit Committees
2
For For Authorize Board to Ratify and Execute Approved Resolutions
3
Pernod Ricard SA
Meeting Date: 11/08/2019 Country: France
Meeting Type: Annual/Special Ticker: RI
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Financial Statements and Statutory
Reports
For For
For For Approve Consolidated Financial Statements and
Statutory Reports
2
For For Approve Allocation of Income and Dividends of
EUR 3.12 per Share
3
For For Approve Auditors' Special Report on
Related-Party Transactions
4
For For Reelect Kory Sorenson as Director 5
For For Elect Esther Berrozpe Galindo as Director 6
For For Elect Philippe Petitcolin as Director 7
For For Approve Remuneration of Directors in the
Aggregate Amount of EUR 1.25 Million
8
For For Approve Compensation of Alexandre Ricard,
Chairman and CEO
9
Against For Approve Remuneration Policy for Alexandre
Ricard, Chairman and CEO
10
Voter Rationale: Targets lack stretch. There is also the possibility that over-performance in qualitative criteria could compensate for under-performance in quantitative criteria.
Blended Rationale: Targets lack stretch. There is also the possibility that over-performance in qualitative criteria could compensate for under-performance in quantitative criteria.
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Pernod Ricard SA Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorize Repurchase of Up to 10 Percent of Issued Share Capital
11
For For Authorize Decrease in Share Capital via Cancellation of Repurchased Shares
12
For For Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to
Aggregate Nominal Amount of EUR 135 Million
13
For For Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to
Aggregate Nominal Amount of EUR 41 Million
14
For For Authorize Board to Increase Capital in the Event of Additional Demand Related to Delegation
Submitted to Shareholder Vote Above
15
For For Approve Issuance of Equity or Equity-Linked Securities for Private Placements, up to
Aggregate Nominal Amount of EUR 41 Million
16
For For Authorize Capital Increase of up to 10 Percent of Issued Capital for Contributions in Kind
17
For For Authorize Capital Increase of up to 10 Percent of Issued Capital for Future Exchange Offers
18
For For Authorize Capitalization of Reserves of Up to EUR 135 Million for Bonus Issue or Increase in
Par Value
19
For For Authorize up to 1.5 Percent of Issued Capital for Use in Restricted Stock Plans
20
For For Authorize up to 1.5 Percent of Issued Capital for Use in Stock Option Plans
21
For For Authorize Capital Issuances for Use in Employee Stock Purchase Plans
22
For For Authorize Capital Issuances for Use in Employee Stock Purchase Plans Reserved for Employees of
the Group's Subsidiaries
23
For For Amend Article 16 of Bylaws Re: Employee Representative
24
For For Authorize Filing of Required Documents/Other Formalities
25
Raven Property Group Ltd.
Meeting Date: 11/08/2019 Country: Guernsey
Meeting Type: Special Ticker: RAV
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Raven Property Group Ltd.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Market Purchase of Ordinary Shares
Pursuant to the Tender Offer
For For
Swick Mining Services Ltd.
Meeting Date: 11/08/2019 Country: Australia
Meeting Type: Annual Ticker: SWK
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Elect David Nixon as Director 2
For For Elect Stuart Carmichael as Director 3
For For Elect Alan Bye as Director 4
For For Ratify Past Issuance of Shares to Professional and Sophisticated Clients of Euroz Securities
Limited
5
For For Approve Issuance of Shares to Professional and Sophisticated Clients of Euroz Securities Limited
6
For For Approve Replacement of Constitution 7
Wellcom Group Limited
Meeting Date: 11/08/2019 Country: Australia
Meeting Type: Court Ticker: WLL
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Scheme of Arrangement in Relation to the Proposed Acquisition of the Company by Innocean Worldwide Inc
For For
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
China Jushi Co. Ltd.
Meeting Date: 11/11/2019 Country: China
Meeting Type: Special Ticker: 600176
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Company's Eligibility for Corporate Bond Issuance
For For
For For Approve Par Value and Issue Scale 2.1
For For Approve Issue Price and Bond Interest Rate 2.2
For For Approve Bond Period and Repayment Method 2.3
For For Approve Issue Manner and Target Subscribers 2.4
For For Approve Guarantee Situation 2.5
For For Approve Redemption and Resale Terms 2.6
For For Approve Usage of Raised Funds 2.7
For For Approve Safeguard Measures of Debts Repayment
2.8
For For Approve Underwriting Method, Listing and Resolution Validity Period
2.9
For For Approve Authorization of the Board to Handle All Related Matters
2.10
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Company's Eligibility for Corporate Bond Issuance
1
For For Approve Par Value and Issue Scale 2.1
For For Approve Issue Price and Bond Interest Rate 2.2
For For Approve Bond Period and Repayment Method 2.3
For For Approve Issue Manner and Target Subscribers 2.4
For For Approve Guarantee Situation 2.5
For For Approve Redemption and Resale Terms 2.6
For For Approve Usage of Raised Funds 2.7
For For Approve Safeguard Measures of Debts Repayment
2.8
For For Approve Underwriting Method, Listing and Resolution Validity Period
2.9
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
China Jushi Co. Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Authorization of the Board to Handle All Related Matters
2.10
Domain Holdings Australia Ltd.
Meeting Date: 11/11/2019 Country: Australia
Meeting Type: Annual Ticker: DHG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Elect Nick Falloon as Director 2
For For Elect Geoff Kleemann as Director 3
For For Approve Issuance of Options to Jason Pellegrino 4
HUB24 Limited
Meeting Date: 11/11/2019 Country: Australia
Meeting Type: Annual Ticker: HUB
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Bruce Higgins as Director 2
For For Elect Ian Litster as Director 3
For For Approve Issuance of Options and Performance Rights to Andrew Alcock
4
For None Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
5
For For Adopt New Constitution 6
Immobiliare Grande Distribuzione SpA
Meeting Date: 11/11/2019 Country: Italy
Meeting Type: Special Ticker: IGD
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Immobiliare Grande Distribuzione SpA
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Reduction in Share Capital Through
Reduction in Accounting Share Value
For For
Zhejiang Sanhua Intelligent Controls Co., Ltd.
Meeting Date: 11/11/2019 Country: China
Meeting Type: Special Ticker: 002050
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Amendments to Articles of Association For For
For For Approve Repurchase and Cancellation of Performance Shares
2
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Amendments to Articles of Association 1
For For Approve Repurchase and Cancellation of Performance Shares
2
AUB Group Limited
Meeting Date: 11/12/2019 Country: Australia
Meeting Type: Annual Ticker: AUB
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For Against
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
AUB Group Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Voter Rationale: Concerns exist that on the whole, the company's disclosure practices are poor with absence STI disclosure, and absent LTI vesting justification. Furthermore, the LTI allows for retesting which is materially inconsistent with accepted market practices.
Blended Rationale: Concerns exist that on the whole, the company's disclosure practices are poor with absence STI disclosure, and absent LTI vesting justification. Furthermore, the LTI allows for retesting which is materially inconsistent with accepted market practices.
For For Elect Ray Carless as Director 2
For For Elect Robin Low as Director 3
Against For Approve Issuance of 5-Year Performance Options (ZEPO) to Michael Emmett
4
Voter Rationale: This includes a re-testing provision which is inconsistent with market standards and security holder expectations, and the quantum is excessive at $2,080,000 and materially above the median of market cap and industry peers.
Blended Rationale: This includes a re-testing provision which is inconsistent with market standards and security holder expectations, and the quantum is excessive at $2,080,000 and materially above the median of market cap and industry peers.
For For Approve Issuance of 3-Year Performance Options (ZEPO) to Michael Emmett
5
For For Approve Re-insertion of Proportional Takeover Provisions in the Constitution
6
Automatic Data Processing, Inc.
Meeting Date: 11/12/2019 Country: USA
Meeting Type: Annual Ticker: ADP
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1a Elect Director Peter Bisson For For
For For Elect Director Richard T. Clark 1b
For For Elect Director R. Glenn Hubbard 1c
For For Elect Director John P. Jones 1d
For For Elect Director Francine S. Katsoudas 1e
For For Elect Director Thomas J. Lynch 1f
For For Elect Director Scott F. Powers 1g
For For Elect Director William J. Ready 1h
For For Elect Director Carlos A. Rodriguez 1i
For For Elect Director Sandra S. Wijnberg 1j
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Automatic Data Processing, Inc. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Advisory Vote to Ratify Named Executive Officers' Compensation
2
Blended Rationale: The minimum vesting period is less than three years.
For For Ratify Deloitte & Touche LLP as Auditors 3
Galliford Try Plc
Meeting Date: 11/12/2019 Country: United Kingdom
Meeting Type: Annual Ticker: GFRD
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Remuneration Report 2
For For Approve Final Dividend 3
For For Elect Andrew Duxbury as Director 4
For For Re-elect Graham Prothero as Director 5
For For Re-elect Marisa Cassoni as Director 6
For For Re-elect Terry Miller as Director 7
For For Re-elect Gavin Slark as Director 8
For For Re-elect Jeremy Townsend as Director 9
For For Re-elect Peter Ventress as Director 10
For For Appoint BDO LLP as Auditors 11
For For Authorise the Audit Committee to Fix
Remuneration of Auditors
12
For For Authorise Issue of Equity 13
For For Authorise EU Political Donations and
Expenditure
14
For For Authorise Issue of Equity without Pre-emptive
Rights
15
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or Other Capital Investment
16
For For Authorise Market Purchase of Ordinary Shares 17
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Galliford Try Plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorise the Company to Call General Meeting with Two Weeks' Notice
18
Growthpoint Properties Ltd.
Meeting Date: 11/12/2019 Country: South Africa
Meeting Type: Annual Ticker: GRT
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.2.1 Elect Frank Berkeley as Director For For
For For Elect John van Wyk as Director 1.2.2
For For Elect Christina Teixeira as Director 1.2.3
For For Re-elect Lynette Finlay as Director 1.3.1
For For Re-elect Sebenzile Mngconkola as Director 1.3.2
For For Re-elect Mpume Nkabinde as Director 1.3.3
For For Elect Frank Berkeley as Member of the Audit
Committee
1.4.1
For For Re-elect Lynette Finlay as Member of the Audit
Committee
1.4.2
For For Re-elect Nonzukiso Siyotula as Member of the
Audit Committee
1.4.3
For For Elect Christina Teixeira as Member of the Audit
Committee
1.4.4
For For Appoint EY as Auditors of the Company 1.5
For For Approve Remuneration Policy 1.6.1
For For Approve Implementation of Remuneration Policy 1.6.2
For For Place Authorised but Unissued Shares under
Control of Directors
1.7
For For Authorise Directors to Issue Shares to Afford Shareholders Distribution Reinvestment Alternatives
1.8
For For Authorise Board to Issue Shares for Cash 1.9
For For Approve Social, Ethics and Transformation
Committee Report
1.10
For For Approve Non-executive Directors' Fees 2.1
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Growthpoint Properties Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Financial Assistance in Terms of Section 45 of the Companies Act
2.2
For For Authorise Repurchase of Issued Share Capital 2.3
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd.
Meeting Date: 11/12/2019 Country: China
Meeting Type: Special Ticker: 874
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Guangzhou Pharmaceuticals Corporation, a Subsidiary of the Company, to Conduct Asset-Backed Securitization of
Accounts Receivable
For For
For For Approve Guangzhou Pharmaceuticals Corporation, a Subsidiary of the Company, to Apply for Additional General Banking Facilities
2
For For Approve Emoluments to be Paid to Cai Ruiyu for
Year 2019
3
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
For For Approve Guangzhou Pharmaceuticals Corporation, a Subsidiary of the Company, to Conduct Asset-Backed Securitization of Accounts Receivable
1
For For Approve Guangzhou Pharmaceuticals Corporation, a Subsidiary of the Company, to
Apply for Additional General Banking Facilities
2
For For Approve Emoluments to be Paid to Cai Ruiyu for Year 2019
3
Ingenia Communities Group
Meeting Date: 11/12/2019 Country: Australia
Meeting Type: Annual/Special Ticker: INA
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Ingenia Communities Group
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Amendment to the Constitution of the
Trust
For For
For For Approve Amendment to the Constitution of the
Fund
2
Against For Approve Remuneration Report 2
Blended Rationale: Vote against if the weighting of non-financial targets exceeds 50% of the bonus.
For For Elect Robert Morrison as Director 3.1
For For Elect Gary Shiffman as Director 3.2
For For Approve Ingenia Communities Group Rights Plan
4
For For Approve Grant of Short Term Incentive Plan Rights to Simon Owen
5
For For Approve Grant of Long Term Incentive Plan Rights to Simon Owen
6
Netwealth Group Limited
Meeting Date: 11/12/2019 Country: Australia
Meeting Type: Annual Ticker: NWL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For For
For For Elect Davyd Lewis as Director 3
For For Elect Sally Freeman as Director 4
For For Approve Grant of Options to Matthew Heine 5
Newcrest Mining Ltd.
Meeting Date: 11/12/2019 Country: Australia
Meeting Type: Annual Ticker: NCM
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Newcrest Mining Ltd.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2a Elect Peter Hay as Director For For
For For Elect Vickki McFadden as Director 2b
For For Approve Grant of Performance Rights to
Sandeep Biswas
3a
For For Approve Grant of Performance Rights to Gerard
Bond
3b
Against For Approve Remuneration Report 4
Blended Rationale: Vote against if the weighting of non-financial targets exceeds 50% of the bonus.STI targets are based on continuous employment
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
For For Elect Peter Hay as Director 2a
For For Elect Vickki McFadden as Director 2b
For For Approve Grant of Performance Rights to
Sandeep Biswas
3a
For For Approve Grant of Performance Rights to Gerard Bond
3b
For For Approve Remuneration Report 4
Weibo Corporation
Meeting Date: 11/12/2019 Country: Cayman Islands
Meeting Type: Annual Ticker: WB
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Director Daniel Yong Zhang For For
For For Elect Director Pehong Chen 2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Abcam Plc
Meeting Date: 11/13/2019 Country: United Kingdom
Meeting Type: Annual Ticker: ABC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Final Dividend 2
Against For Approve Remuneration Report 3
Voter Rationale: Excessive LTIP max.
Blended Rationale: Excessive LTIP max.
For For Reappoint PricewaterhouseCoopers LLP as Auditors
4
For For Authorise the Audit and Risk Committee to Fix Remuneration of Auditors
5
Against For Re-elect Peter Allen as Director 6
Voter Rationale: over boarded with multiple chairmanships.
Blended Rationale: over boarded with multiple chairmanships.
For For Re-elect Jonathan Milner as Director 7
For For Re-elect Alan Hirzel as Director 8
For For Re-elect Gavin Wood as Director 9
For For Re-elect Louise Patten as Director 10
For For Re-elect Mara Aspinall as Director 11
For For Elect Giles Kerr as Director 12
For For Authorise Issue of Equity 13
For For Authorise Issue of Equity without Pre-emptive Rights
14
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or
Other Capital Investment
15
For For Authorise Market Purchase of Ordinary Shares 16
Afterpay Touch Group Limited
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual Ticker: APT
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Afterpay Touch Group Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For Against
Voter Rationale: Vote against if share incentive schemes lead to dilution, in excess of 10% of the issued share capital.The minimum vesting period is less than three years
Blended Rationale: Vote against if share incentive schemes lead to dilution, in excess of 10% of the issued share capital.The minimum vesting period is less than three years
For For Approve the Increase in Non-Executive Directors' Fee Pool
2
For For Elect Clifford Rosenberg as Director 3
For For Ratify Past Issuance of Shares to Certain Institutional Investors
4
For For Approve Afterpay Equity Incentive Plan 5
Against For Approve Issuance of Options to Anthony Eisen 6
Voter Rationale: The dilutionary effect of all outstanding awards under the company's equity incentive plans is greater than 10 percent.
Blended Rationale: The dilutionary effect of all outstanding awards under the company's equity incentive plans is greater than 10 percent.
Against For Approve Issuance of Options to Nick Molnar 7
Voter Rationale: The dilutionary effect of all outstanding awards under the company's equity incentive plans is greater than 10 percent.
Blended Rationale: The dilutionary effect of all outstanding awards under the company's equity incentive plans is greater than 10 percent.
For For Approve the Change of Company Name to Afterpay Limited
8
Bingo Industries Limited
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual Ticker: BIN
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Maria Atkinson as Director 2
For For Elect Ian Malouf as Director 3
For For Elect Elizabeth Crouch as Director 4
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Bingo Industries Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Grant of LTI Performance Rights to Daniel Tartak
5
For For Approve Renewal of Proportional Takeover Provisions
6
Breville Group Limited
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual Ticker: BRG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For Against
Voter Rationale: "The FY19 awards were not put to shareholder vote prior to grant, which represents a non-conformance with Australian market practice and shareholder interests.A portion of the LTI award (33 percent) is subject to a two-year performance period, which represents a departure from accepted market practice (with a minimum three-year performance period)."
Blended Rationale: "The FY19 awards were not put to shareholder vote prior to grant, which represents a non-conformance with Australian market practice and shareholder interests.A portion of the LTI award (33 percent) is subject to a two-year performance period, which represents a departure from accepted market practice (with a minimum three-year performance period)."
For For Elect Sally Herman as Director 3
For For Elect Kate Wright as Director 4
Charter Hall Group
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual/Special Ticker: CHC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2.1 Elect David Clarke as Director For For
For For Elect Karen Moses as Director 2.2
For For Elect Greg Paramor as Director 2.3
For For Approve Remuneration Report 3
For For Approve Issuance of Service Rights to David Harrison
4
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Charter Hall Group Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Issuance of Performance Rights to David Harrison
5
Coles Group Limited
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual Ticker: COL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2.1 Elect James Graham as Director For For
For For Elect Jacqueline Chow as Director 2.2
For For Approve Remuneration Report 3
For For Approve Grant of Performance Rights to Steven
Cain
4
For For Appoint Ernst & Young as Auditor of the
Company
5
Against Against Approve the Amendments to the Company's
Constitution
6a
Against Against Improve Human Rights Management in Fresh
Food Supply Chains
6b
Computershare Limited
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual Ticker: CPU
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Elect Simon Jones as Director For For
For For Elect Tiffany Fuller as Director 3
For For Approve Remuneration Report 4
For For Approve Grant of Performance Rights to Stuart Irving
5
Against Against Approve Conditional Spill Resolution 6
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Contact Energy Limited
Meeting Date: 11/13/2019 Country: New Zealand
Meeting Type: Annual Ticker: CEN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Elena Trout as Director For For
For For Authorize Board to Fix Remuneration of the Auditors
2
For For Adopt New Constitution 3
Data#3 Limited
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual Ticker: DTL
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report None For
For For Elect Mark Esler as Director 2
For For Approve Issuance of Rights to Laurence
Baynham
3
EML Payments Limited
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual Ticker: EML
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report None For
For For Elect Peter Martin as Director 2
For None Approve the Increase in Non-Executive Directors' Fee Pool
3
For For Approve Grant of Short-Term Incentive Options (ZEPO) to Tom Cregan
4
For For Approve Grant of Long-Term Incentive Options (ZEPO) to Tom Cregan
5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
EML Payments Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve the Amendments to the Company's Constitution
6
Hays plc
Meeting Date: 11/13/2019 Country: United Kingdom
Meeting Type: Annual Ticker: HAS
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Remuneration Report 2
For For Approve Final Dividend 3
For For Approve Special Dividend 4
For For Re-elect Andrew Martin as Director 5
For For Re-elect Alistair Cox as Director 6
For For Re-elect Paul Venables as Director 7
For For Re-elect Torsten Kreindl as Director 8
For For Re-elect Susan Murray as Director 9
For For Re-elect MT Rainey as Director 10
For For Re-elect Peter Williams as Director 11
For For Elect Cheryl Millington as Director 12
For For Reappoint PricewaterhouseCoopers LLP as
Auditors
13
For For Authorise Board to Fix Remuneration of Auditors 14
For For Authorise EU Political Donations and
Expenditure
15
For For Authorise Issue of Equity 16
For For Authorise Issue of Equity without Pre-emptive
Rights
17
For For Authorise Market Purchase of Ordinary shares 18
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
19
For For Approve UK Sharesave Plan 20
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Hays plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve International Sharesave Plan 21
KAP Industrial Holdings Ltd.
Meeting Date: 11/13/2019 Country: South Africa
Meeting Type: Annual Ticker: KAP
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Reappoint Deloitte & Touche as Auditors of the Company with Dr Dirk Steyn as the Registered Auditor
For For
For For Re-elect Gary Chaplin as Director 2.1
For For Re-elect Ipeleng Mkhari as Director 2.2
For For Re-elect Sandile Nomvete as Director 2.3
For For Authorise Reduction in the Number of Directors
on the Board
2.4
For For Re-elect Patrick Quarmby as Chairman of the
Audit and Risk Committee
3.1
For For Re-elect Steve Muller as Member of the Audit
and Risk Committee
3.2
For For Re-elect Sandile Nomvete as Member of the
Audit and Risk Committee
3.3
For For Place Authorised but Unissued Ordinary Shares
under Control of Directors
4
For For Place Authorised but Unissued Preference
shares under Control of Directors
5
For For Authorise Creation and Issuance of Convertible Debentures, Debenture Stock or Other Convertible Instruments
6
For For Approve General Payment to Shareholders from the Company's Share Capital, Share Premium and Reserves
7
Against For Approve Remuneration Policy 8.1
Voter Rationale: A substantial element of the SRS awards relates to "retention" purposes only.
Blended Rationale: A substantial element of the SRS awards relates to "retention" purposes only.
For For Approve Implementation Report on the
Remuneration Policy 8.2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
KAP Industrial Holdings Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorise Ratification Relating to Personal Financial Interest Arising from Multiple
Intergroup Directorships
9
For For Authorise Repurchase of Issued Share Capital 10
For For Approve Fees Payable to Independent Non-executive Chairman
11.1
For For Approve Fees Payable to Non-executive Deputy Chairman
11.2
For For Approve Fees Payable to Board Members 11.3
For For Approve Fees Payable to Board Members for Ad hoc Meetings
11.4
For For Approve Fees Payable to Audit and Risk Committee Chairman
11.5
For For Approve Fees Payable to Audit and Risk Committee Member
11.6
For For Approve Fees Payable to Human Resources and Remuneration Committee Chairman
11.7
For For Approve Fees Payable to Human Resources and Remuneration Committee Member
11.8
For For Approve Fees Payable to Nomination Committee Chairman
11.9
For For Approve Fees Payable to Nomination Committee Member
11.10
For For Approve Fees Payable to Social and Ethics Committee Chairman
11.11
For For Approve Fees Payable to Social and Ethics Committee Member
11.12
For For Approve Fees Payable to Investment Committee Chairman
11.13
For For Approve Fees Payable to Investment Committee Member
11.14
For For Approve Financial Assistance in Terms of Sections 44 and 45 of the Companies Act
12
KCC Corp.
Meeting Date: 11/13/2019 Country: South Korea
Meeting Type: Special Ticker: 002380
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
KCC Corp.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Spin-Off Agreement For For
For For Elect Min Byeong-sam as Inside Director 2
Lancaster Colony Corporation
Meeting Date: 11/13/2019 Country: USA
Meeting Type: Annual Ticker: LANC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Barbara L. Brasier For For
For For Elect Director David A. Ciesinski 1.2
For For Elect Director Kenneth L. Cooke 1.3
For For Elect Director Alan F. Harris 1.4
Against For Advisory Vote to Ratify Named Executive Officers' Compensation
2
Blended Rationale: Minimum vesting period is less than 3 years
For For Ratify Deloitte & Touche LLP as Auditors 3
Macmahon Holdings Limited
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual Ticker: MAH
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Vyril Vella as Director 2
For For Elect Bruce Munro as Director 3
For For Elect Hamish Tyrwhitt as Director 4
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Mount Gibson Iron Limited
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual Ticker: MGX
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Lee Seng Hui as Director For Against
Voter Rationale: Support is not warranted as Seng Hui Lee is warranted as he is considered overboarded as serving on the equivalent of seven non-executive director positions (with the chair position counting as two non-executive director roles) and for serving as the CEO of two listed companies.
Blended Rationale: Support is not warranted as Seng Hui Lee is warranted as he is considered overboarded as serving on the equivalent of seven non-executive director positions (with the chair position counting as two non-executive director roles) and for serving as the CEO of two listed companies.
Against For Approve Remuneration Report 2
Voter Rationale: The STI is discretionary in nature as the board will assess executive performance towards achieving key company objectives. The ten-percent share price premium performance hurdle is not considered challenging in the company's recent share price performance; and- The company does not disclose how STI and LTI awards are treated in the event an executive ceases employment.Also, the minimum vesting period is less than three years.
Blended Rationale: The STI is discretionary in nature as the board will assess executive performance towards achieving key company objectives. The ten-percent share price premium performance hurdle is not considered challenging in the company's recent share price performance; and- The company does not disclose how STI and LTI awards are treated in the event an executive ceases employment.Also, the minimum vesting period is less than three years.
Against For Approve Potential Termination Benefits Under
the Company's Loan Share Plan
3
Voter Rationale: "A vote AGAINST this resolution is warranted as there appears to be no benefit for shareholders to approve any excessive termination benefits from the potential vesting of incentive grants under the Loan Share Plan on cessation of employment of the relevant participant. The minimum vesting period is less than three years"
Blended Rationale: "A vote AGAINST this resolution is warranted as there appears to be no benefit for shareholders to approve any excessive termination benefits from the potential vesting of incentive grants under the Loan Share Plan on cessation of employment of the relevant participant. The minimum vesting period is less than three years"
National Storage REIT
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual/Special Ticker: NSR
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For For
For For Elect Anthony Keane as Director 3
For For Ratify Past Issuance of Stapled Securities to Institutional and Professional Securityholders
4
For For Approve the Amendments to the Constitution 5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
National Storage REIT Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
6
Pacific Current Group Limited
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual Ticker: PAC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Jeremiah Chafkin as Director For For
For For Elect Melda Donnelly as Director 2
Against For Elect Gilles Guerin as Director 3
Voter Rationale: Gilles Guerin attended less than 75 percent of board and committee meetings he was eligible to attend in FY19. Attendance at board meetings is a basic requirement for directors.
Blended Rationale: Gilles Guerin attended less than 75 percent of board and committee meetings he was eligible to attend in FY19. Attendance at board meetings is a basic requirement for directors.
For For Approve Remuneration Report 4
Performance Food Group Company
Meeting Date: 11/13/2019 Country: USA
Meeting Type: Annual Ticker: PFGC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1a Elect Director George L. Holm For For
For For Ratify Deloitte & Touche LLP as Auditors 2
For For Advisory Vote to Ratify Named Executive Officers' Compensation
3
For For Amend Omnibus Stock Plan 4
For For Approve Qualified Employee Stock Purchase Plan
5
For For Eliminate Supermajority Vote Requirement for Amending Government Documents and
Removing Directors
6
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Performance Food Group Company Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Provide Right to Call Special Meeting 7
Servcorp Limited
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual Ticker: SRV
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For For
For For Elect Wallis Graham as Director 3
For For Elect Anthony McGrath as Director 4
Seven West Media Limited
Meeting Date: 11/13/2019 Country: Australia
Meeting Type: Annual Ticker: SWM
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Elect Colette Garnsey as Director For For
For For Elect John Alexander as Director 3
For For Elect Ryan Stokes as Director 4
For For Approve Remuneration Report 5
For For Approve Grant of Performance Rights to James Warburton
6
Smiths Group Plc
Meeting Date: 11/13/2019 Country: United Kingdom
Meeting Type: Annual Ticker: SMIN
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Smiths Group Plc
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Remuneration Report 2
For For Approve Final Dividend 3
For For Re-elect Bruno Angelici as Director 4
For For Re-elect Olivier Bohuon as Director 5
For For Re-elect Sir George Buckley as Director 6
For For Re-elect Dame Ann Dowling as Director 7
For For Re-elect Tanya Fratto as Director 8
For For Re-elect William Seeger as Director 9
For For Re-elect Mark Seligman as Director 10
For For Re-elect John Shipsey as Director 11
For For Re-elect Andrew Reynolds Smith as Director 12
For For Re-elect Noel Tata as Director 13
For For Appoint KPMG LLP as Auditors 14
For For Authorise Board to Fix Remuneration of Auditors 15
For For Authorise Issue of Equity 16
For For Authorise Issue of Equity without Pre-emptive
Rights
17
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or Other Capital Investment
18
For For Authorise Market Purchase of Ordinary Shares 19
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
20
For For Authorise EU Political Donations and
Expenditure
21
Ansell Limited
Meeting Date: 11/14/2019 Country: Australia
Meeting Type: Annual Ticker: ANN
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Ansell Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2a Elect Christine Yan as Director For For
For For Elect Peter Day as Director 2b
For For Elect Leslie A Desjardins as Director 2c
For For Approve On-Market Buy-Back of Shares 3
For For Approve Grant of Performance Share Rights to
Magnus Nicolin
4
For For Approve Remuneration Report 5
Aryzta AG
Meeting Date: 11/14/2019 Country: Switzerland
Meeting Type: Annual Ticker: ARYN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Accept Financial Statements and Statutory Reports
For For
Abstain For Approve Remuneration Report (Non-Binding) 1.2
Voter Rationale: We are not supportive of the ex-post changes to the remuneration.
Blended Rationale: We are not supportive of the ex-post changes to the remuneration.
For For Approve Allocation of Income and Omission of Dividends
2
For For Approve Discharge of Board and Senior Management
3
For For Elect Luisa Delgado as Director 4.1a
For For Elect Alejandro Legarda Zaragueeta as Director 4.1b
For For Reelect Gary McGann as Director and Board Chairman
4.1c
For For Reelect Mike Andres as Director 4.1d
For For Reelect Greg Flack as Director 4.1e
For For Reelect Dan Flinter as Director 4.1f
For For Reelect Annette Flynn as Director 4.1g
For For Reelect Jim Leighton as Director 4.1h
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Aryzta AG Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Reelect Tim Lodge as Director 4.1i
For For Reelect Kevin Toland as Director 4.1j
For For Reelect Rolf Watter as Director 4.1k
For For Reappoint Mike Andres as Member of the Compensation Committee
4.2.1
For For Reappoint Dan Flinter as Member of the Compensation Committee
4.2.2
For For Reaapoint Gary McGann as Member of the Compensation Committee
4.2.3
For For Reappoint Rolf Watter as Member of the Compensation Committee
4.2.4
For For Ratify Ernst & Young AG as Auditors 4.3
For For Designate Patrick ONeill as Independent Proxy 4.4
For For Approve Remuneration of Directors in the Amount of CHF 1.5 Million
5.1
For For Approve Remuneration of Executive Committee in the Amount of CHF 18 Million
5.2
For For Approve CHF 993,106 Conditional Capital Increase without Preemptive Rights for
Employee Stock Options
6.1
For For Approve Creation of CHF 1.99 Million Pool of Capital without Preemptive Rights
6.2
For For Amend Articles Re: Shareholding Requirements to File Agenda Items
7.1
For For Amend Articles Re: Range of Board Size 7.2.1
For For Amend Articles Re: Board Meeting Chairman 7.2.2
For For Amend Articles Re: Number of Mandates of Members of the Board of Directors
7.2.3
For For Amend Articles Re: Share Register 7.3.1
For For Amend Articles Re: Financial Statements 7.3.2
For For Amend Articles Re: Annulment of the Contributions in Kind Clause
7.3.3
Against For Transact Other Business (Voting) 8
Voter Rationale: Other business not disclosed.
Blended Rationale: Other business not disclosed.
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Aryzta AG
Meeting Date: 11/14/2019 Country: Switzerland
Meeting Type: Annual Ticker: ARYN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Share Re-registration Consent For For
Broadridge Financial Solutions, Inc.
Meeting Date: 11/14/2019 Country: USA
Meeting Type: Annual Ticker: BR
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1a Elect Director Leslie A. Brun For For
For For Elect Director Pamela L. Carter 1b
For For Elect Director Richard J. Daly 1c
For For Elect Director Robert N. Duelks 1d
For For Elect Director Timothy C. Gokey 1e
For For Elect Director Brett A. Keller 1f
For For Elect Director Maura A. Markus 1g
For For Elect Director Thomas J. Perna 1h
For For Elect Director Alan J. Weber 1i
For For Elect Director Amit K. Zavery 1j
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
2
Blended Rationale: The minimum vesting period is less than three years.
For For Ratify Deloitte & Touche LLP as Auditors 3
Eagle Eye Solutions Group Plc
Meeting Date: 11/14/2019 Country: United Kingdom
Meeting Type: Annual Ticker: EYE
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Eagle Eye Solutions Group Plc
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Re-elect Steve Rothwell as Director 2
For For Re-elect Sir Terry Leahy as Director 3
For For Elect Robert Senior as Director 4
For For Reappoint RSM UK Audit LLP as Auditors and
Authorise Their Remuneration
5
For For Authorise Issue of Equity 6
For For Authorise Issue of Equity without Pre-emptive
Rights
7
Ecofibre Limited
Meeting Date: 11/14/2019 Country: Australia
Meeting Type: Annual Ticker: EOF
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Jon Meadmore as Director For Against
Voter Rationale: The nominee is non-independent and the full board comprises less than 50% independents.The nominee is a non-independent member of the audit committee and the committee comprises less than 50% independents.
Blended Rationale: The nominee is non-independent and the full board comprises less than 50% independents.The nominee is a non-independent member of the audit committee and the committee comprises less than 50% independents.
For None Approve Remuneration Report 2
Emeco Holdings Limited
Meeting Date: 11/14/2019 Country: Australia
Meeting Type: Annual Ticker: EHL
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Peter Frank as Director For For
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Emeco Holdings Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Approve Issuance of Rights to Ian Testrow 2
Blended Rationale: A vote AGAINST this resolution is warranted as this grant relates to the provision of equity incentives under the company's hybrid incentive plan, which combines the traditional STI and LTI, and there are no long term performance measures to be achieved in shareholder interests prior to vesting, and vesting is based solely on the passage of time, being 2 years.Further, we note that only 5.6 percent of the total FY19 HIP award which vested (equal to 4.73 percent of the CEO's fixed remuneration) will be deferred into equity, with the remaining 94.4 percent of the award being paid in cash (equal to 80 percent of the CEO's fixed remuneration). This outcomes is misaligned with market practice, short term in nature and misaligned with shareholder interests and expectations.
Against For Approve Remuneration Report 3
Blended Rationale: A vote AGAINST the remuneration report is warranted:- The continued use of a hybrid incentive structure which combined the STI and LTI into one plan and removed any long-term performance hurdles for deferred equity with vesting occurring after 2 years.- Consistent year-on-year increases to the CEO's fixed remuneration, which place his fixed remuneration significantly higher than market capitalization and industry peers without significant justification.- Prior poor disclosure on the mechanics of the HIP, namely that the CEO would receive the first 40 percent (representing 80 percent of fixed remuneration) of any HIP bonus in cash rather than maintaining a ratio split regardless of outcome, or even the majority being deferred into equity as seen in other similar plans (which still failed to avoid a "strike" in many cases).- The excessive equity grant made in FY19 under a "Management Incentive Plan" in addition to the STI and LTI.
Against Against Approve the Spill Resolution 4
Ford Otomotiv Sanayi AS
Meeting Date: 11/14/2019 Country: Turkey
Meeting Type: Special Ticker: FROTO
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Open Meeting and Elect Presiding Council of
Meeting
For For
Against For Ratify Director Appointments 2
Voter Rationale: Lack of independence on the board.
Blended Rationale: Lack of independence on the board.
For For Approve Dividends 3
Gaztransport & Technigaz SA
Meeting Date: 11/14/2019 Country: France
Meeting Type: Special Ticker: GTT
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Gaztransport & Technigaz SA
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Authorize up to 150,000 Shares for Use in
Restricted Stock Plans
For For
For For Authorize Filing of Required Documents/Other
Formalities
2
GDI Property Group Limited
Meeting Date: 11/14/2019 Country: Australia
Meeting Type: Annual/Special Ticker: GDI
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report None For
For For Elect John Tuxworth as Director 2
For For Approve Issuance of Performance Rights to Steve Gillard
3
Hangzhou Robam Appliances Co., Ltd.
Meeting Date: 11/14/2019 Country: China
Meeting Type: Special Ticker: 002508
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve to Appoint Auditor For For
Helloworld Travel Limited
Meeting Date: 11/14/2019 Country: Australia
Meeting Type: Annual Ticker: HLO
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Helloworld Travel Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Mike Ferraro as Director 2.1
For For Elect Andrew Finch as Director 2.2
For None Approve Omnibus Incentive Plan 3
Jack Henry & Associates, Inc.
Meeting Date: 11/14/2019 Country: USA
Meeting Type: Annual Ticker: JKHY
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Matthew C. Flanigan For For
For For Elect Director John F. Prim 1.2
For For Elect Director Thomas H. Wilson, Jr. 1.3
For For Elect Director Jacque R. Fiegel 1.4
For For Elect Director Thomas A. Wimsett 1.5
For For Elect Director Laura G. Kelly 1.6
For For Elect Director Shruti S. Miyashiro 1.7
For For Elect Director Wesley A. Brown 1.8
For For Elect Director David B. Foss 1.9
For For Advisory Vote to Ratify Named Executive Officers' Compensation
2
For For Ratify PricewaterhouseCoopers, LLP as Auditors 3
Lumentum Holdings Inc.
Meeting Date: 11/14/2019 Country: USA
Meeting Type: Annual Ticker: LITE
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Lumentum Holdings Inc.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1a Elect Director Penelope A. Herscher For For
For For Elect Director Harold L. Covert 1b
For For Elect Director Julia S. Johnson 1c
For For Elect Director Brian J. Lillie 1d
For For Elect Director Alan S. Lowe 1e
For For Elect Director Ian S. Small 1f
For For Elect Director Samuel F. Thomas 1g
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
2
Voter Rationale: Vote confirmed per Voting Operations audit.
Blended Rationale: Vote confirmed per Voting Operations audit.
For For Ratify Deloitte & Touche LLP as Auditors 3
MACA Limited
Meeting Date: 11/14/2019 Country: Australia
Meeting Type: Annual Ticker: MLD
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Elect Linton Kirk as Director 2
For For Elect Robert Ryan as Director 3
For For Approve Performance Rights Plan 4
For For Approve Issuance of Performance Rights to Christopher Tuckwell
5
For For Approve Issuance of Performance Rights to Geoffrey Baker
6
Medibank Private Limited
Meeting Date: 11/14/2019 Country: Australia
Meeting Type: Annual Ticker: MPL
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Medibank Private Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Elect David Grahame Fagan as Director For For
For For Elect Linda Bardo Nicholls as Director 3
For For Approve Remuneration Report 4
For For Approve Grant of Performance Rights to Craig
Drummond
5
Northern Star Resources Limited
Meeting Date: 11/14/2019 Country: Australia
Meeting Type: Annual Ticker: NST
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Approve FY20 Share Plan 2
For For Approve Issuance of Performance Rights to Bill Beament
3
For For Approve Potential Termination Benefits 4
For None Approve FY20 NED Share Plan 5
For None Approve Issuance of Share Rights to Non-Executive Directors
6
For For Elect Mary Hackett as Director 7
For For Elect Nick Cernotta as Director 8
For For Elect Bill Beament as Director 9
For For Elect John Fitzgerald as Director 10
Oritani Financial Corp.
Meeting Date: 11/14/2019 Country: USA
Meeting Type: Special Ticker: ORIT
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Oritani Financial Corp.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Merger Agreement For For
Against For Advisory Vote on Golden Parachutes 2
Voter Rationale: we are not supportive of golden parachutes.
Blended Rationale: we are not supportive of golden parachutes.
Against For Adjourn Meeting 3
Voter Rationale: vote against is warranted given that Item 2 does not warrant support.
Blended Rationale: vote against is warranted given that Item 2 does not warrant support.
Picton Property Income Ltd.
Meeting Date: 11/14/2019 Country: Guernsey
Meeting Type: Annual Ticker: PCTN
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Ratify KPMG Channel Islands Limited as Auditors
2
For For Authorise Board to Fix Remuneration of Auditors 3
For For Re-elect Mark Batten as Director 4
For For Elect Maria Bentley as Director 5
For For Elect Andrew Dewhirst as Director 6
For For Re-elect Roger Lewis as Director 7
For For Re-elect Michael Morris as Director 8
For For Re-elect Nicholas Thompson as Director 9
For For Approve Remuneration Report 10
For For Authorise Market Purchase of Ordinary Shares 11
For For Authorise Issue of Equity without Pre-emptive Rights
12
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or
Other Capital Investment
13
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Ramsay Health Care Limited
Meeting Date: 11/14/2019 Country: Australia
Meeting Type: Annual Ticker: RHC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For Against
Voter Rationale: "We are voting against Item 2 “Approve remuneration report― in the RHC 2019 AGM.RHC has been excluding an increasing level of substantial costs from the ‘core EPS’ figure over the last several financial years. Hurdles for the granting of executive incentives are based on ‘core EPS’ guidance and TSR. Had the $47.6m pre-tax restructuring and onerous lease provisions been taken above the line, RHC would have missed its ‘core EPS’ growth guidance of 0-2% in FY19 resulting in a material impact on executive incentive awards and vesting of LTIs at the end of FY19. If RHC continues to remove these recurring costs from ‘core’ earnings they are not properly allowing management to accept responsibility for their actions, leaving the consequences to be borne by shareholders. Provision reversals in prior periods have also been a positive contributor to ‘core’ earnings including acquisition accounting and insurance provisions, hence helping executives achieve their 'core EPS' growth targets. In addition, large acquisitions and a substantial increase in goodwill in the balance sheet has contributed to RHC being bottom quartile for NTA growth over 5yrs relative to the ASX200 universe. Whether these acquisitions will add value over time remains to be seen. "
Blended Rationale: "We are voting against Item 2 “Approve remuneration report― in the RHC 2019 AGM.RHC has been excluding an increasing level of substantial costs from the ‘core EPS’ figure over the last several financial years. Hurdles for the granting of executive incentives are based on ‘core EPS’ guidance and TSR. Had the $47.6m pre-tax restructuring and onerous lease provisions been taken above the line, RHC would have missed its ‘core EPS’ growth guidance of 0-2% in FY19 resulting in a material impact on executive incentive awards and vesting of LTIs at the end of FY19. If RHC continues to remove these recurring costs from ‘core’ earnings they are not properly allowing management to accept responsibility for their actions, leaving the consequences to be borne by shareholders. Provision reversals in prior periods have also been a positive contributor to ‘core’ earnings including acquisition accounting and insurance provisions, hence helping executives achieve their 'core EPS' growth targets. In addition, large acquisitions and a substantial increase in goodwill in the balance sheet has contributed to RHC being bottom quartile for NTA growth over 5yrs relative to the ASX200 universe. Whether these acquisitions will add value over time remains to be seen. "
For For Elect Catriona Alison Deans as Director 3.1
For For Elect James Malcolm McMurdo as Director 3.2
For For Approve Grant of FY2020 Performance Rights to Craig Ralph McNally
4.1
For For Approve Grant of FY2019 Performance Rights to Craig Ralph McNally
4.2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Rand Merchant Investment Holdings Ltd.
Meeting Date: 11/14/2019 Country: South Africa
Meeting Type: Annual Ticker: RMI
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Re-elect Peter Cooper as Director For For
Against For Re-elect Sonja de Bruyn as Director 1.2
Voter Rationale: continued remuneration issues.
Blended Rationale: continued remuneration issues.
For For Re-elect Laurie Dippenaar as Director 1.3
For For Re-elect Jannie Durand as Director 1.4
For For Re-elect Per-Erik Lagerstrom as Director 1.5
For For Re-elect Murphy Morobe as Director 1.6
Against For Approve Remuneration Policy 1
Voter Rationale: Lack of disclosure on bonus targets/structure and lack of performance conditions attached to the share appreciation rights (LTIP)
Blended Rationale: Lack of disclosure on bonus targets/structure and lack of performance conditions attached to the share appreciation rights (LTIP)
Against For Approve Remuneration Implementation Report 2
Voter Rationale: Lack of disclosure on bonus targets/structure and lack of performance conditions attached to the share appreciation rights (LTIP)
Blended Rationale: Lack of disclosure on bonus targets/structure and lack of performance conditions attached to the share appreciation rights (LTIP)
For For Place Authorised but Unissued Shares under
Control of Directors
2
For For Authorise Board to Issue Shares for Cash 3
For For Reappoint PricewaterhouseCoopers Inc as Auditors of the Company and Authorise Their Remuneration
4
For For Re-elect Johan Burger as Member of the Audit
and Risk Committee
5.1
For For Re-elect Sonja de Bruyn as Member of the Audit
and Risk Committee
5.2
For For Re-elect Per-Erik Lagerstrom as Member of the
Audit and Risk Committee
5.3
For For Re-elect James Teeger as Member of the Audit
and Risk Committee
5.4
For For Authorise Ratification of Approved Resolutions 6
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Rand Merchant Investment Holdings Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Remuneration of Non-executive Directors
1
For For Authorise Repurchase of Issued Share Capital 2
For For Authorise Issue of Shares and/or Options Pursuant to a Reinvestment Option
3
For For Approve Financial Assistance to Directors, Prescribed Officers and Employee Share
Scheme Beneficiaries
4
For For Approve Financial Assistance to Related and Inter-related Entities
5
Ricardo Plc
Meeting Date: 11/14/2019 Country: United Kingdom
Meeting Type: Annual Ticker: RCDO
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Final Dividend 2
For For Reappoint KPMG LLP as Auditors 3
For For Authorise the Audit Committee to Fix
Remuneration of Auditors
4
For For Elect Russell King as Director 5
For For Elect Jack Boyer as Director 6
For For Re-elect Bill Spencer as Director 7
For For Re-elect Sir Terry Morgan as Director 8
For For Re-elect Ian Gibson as Director 9
For For Re-elect Laurie Bowen as Director 10
For For Re-elect Dave Shemmans as Director 11
For For Re-elect Malin Persson as Director 12
For For Re-elect Mark Garrett as Director 13
For For Approve Remuneration Report 14
For For Authorise Issue of Equity 15
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Ricardo Plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorise Issue of Equity without Pre-emptive Rights
16
For For Authorise Market Purchase of Ordinary Shares 17
For For Authorise the Company to Call General Meeting with Two Weeks' Notice
18
RMB Holdings Ltd.
Meeting Date: 11/14/2019 Country: South Africa
Meeting Type: Annual Ticker: RMH
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Re-elect Jannie Durand as Director For For
For For Re-elect Peter Cooper as Director 1.2
For For Re-elect Laurie Dippenaar as Director 1.3
For For Re-elect Sonja De Bruyn as Director 1.4
For For Elect Obakeng Phetwe as Director 1.5
For For Place Authorised but Unissued Shares under
Control of Directors
2
For For Authorise Board to Issue Shares for Cash 3
For For Reappoint PricewaterhouseCoopers Inc as Auditors of the Company and Authorise Their Remuneration
4
For For Re-elect Sonja De Bruyn as Member of the Audit
and Risk Committee
5.1
For For Re-elect Per-Erik Lagerstrom as Member of the
Audit and Risk Committee
5.2
For For Re-elect James Teeger as Member of the Audit
and Risk Committee
5.3
For For Authorise Ratification of Approved Resolutions 6
For For Approve Remuneration Policy 7.1
For For Approve Remuneration Implementation Report 7.2
For For Approve Non-executive Directors' Remuneration 1
For For Authorise Repurchase of Issued Share Capital 2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
RMB Holdings Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorise Issue of Shares or Options Pursuant to a Reinvestment Option
3
For For Approve Financial Assistance to Directors, Prescribed Officers and Employee Share
Scheme Beneficiaries
4
For For Approve Financial Assistance to Related or Inter-related Entities
5
Sims Metal Management Limited
Meeting Date: 11/14/2019 Country: Australia
Meeting Type: Annual Ticker: SGM
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Deborah O'Toole as Director For For
For For Elect Hiroyuki Kato as Director 3
For For Approve Renewal of Proportional Takeover
Provisions in the Constitution
4
Against For Approve Remuneration Report 5
Blended Rationale: The minimum vesting period is less than three years.Tranche 2 of the LTI targets is based on continuous employment.
Against For Approve Grant of Performance Rights to Alistair
Field
6
Blended Rationale: The minimum vesting period is less than three years.
For For Approve the Change of Company Name to Sims
Limited
7
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
For For Elect Deborah O'Toole as Director 1
For For Elect Hiroyuki Kato as Director 3
For For Approve Renewal of Proportional Takeover
Provisions in the Constitution
4
For For Approve Remuneration Report 5
For For Approve Grant of Performance Rights to Alistair Field
6
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Sims Metal Management Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve the Change of Company Name to Sims Limited
7
Vicinity Centres
Meeting Date: 11/14/2019 Country: Australia
Meeting Type: Annual/Special Ticker: VCX
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For For
For For Elect Trevor Gerber as Director 3a
For For Elect David Thurin as Director 3b
For For Approve Grant of Performance Rights to Grant
Kelley
4
Wesfarmers Limited
Meeting Date: 11/14/2019 Country: Australia
Meeting Type: Annual Ticker: WES
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2a Elect Vanessa Miscamble Wallace as Director For For
For For Elect Jennifer Anne Westacott as Director 2b
For For Elect Michael (Mike) Roche as Director 2c
For For Elect Sharon Lee Warburton as Director 2d
For For Approve Remuneration Report 3
For For Approve Grant of Restricted Shares and Performance Shares to Robert Scott
4
Western Digital Corporation
Meeting Date: 11/14/2019 Country: USA
Meeting Type: Annual Ticker: WDC
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Western Digital Corporation
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1a Elect Director Kimberly E. Alexy For For
For For Elect Director Martin I. Cole 1b
For For Elect Director Kathleen A. Cote 1c
For For Elect Director Tunc Doluca 1d
For For Elect Director Len J. Lauer 1e
For For Elect Director Matthew E. Massengill 1f
For For Elect Director Stephen D. Milligan 1g
For For Elect Director Stephanie A. Streeter 1h
For For Advisory Vote to Ratify Named Executive
Officers' Compensation
2
For For Amend Omnibus Stock Plan 3
For For Ratify KPMG LLP as Auditors 4
Zhaojin Mining Industry Company Limited
Meeting Date: 11/14/2019 Country: China
Meeting Type: Special Ticker: 1818
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1a Approve Transfer Agreement and Related Transactions
For For
For For Approve Grant of Specific Mandates to the Board to Allot and Issue Consideration Shares to Zhaojin Group Pursuant to the Transfer Agreement
1b
For For Authorize Board to Deal With All Matters in Relation to Transfer Agreement and Its Amendment, Variation or Modification of Terms and Conditions
1c
For For Amend Articles of Association 2a
For For Authorize Board to Deal With All Matters in Relation to the Amendments to the Articles of
Association
2b
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Zhaojin Mining Industry Company Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Registration and Issuance of Renewal Bonds and Authorize Board to Deal With All
Related Matters
3
For For Approve Registration and Issuance of Super Short-Term Notes and Authorize Board to Deal
With All Related Matters
4
Zhaojin Mining Industry Company Limited
Meeting Date: 11/14/2019 Country: China
Meeting Type: Special Ticker: 1818
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1a Approve Transfer Agreement and Related
Transactions
For For
For For Approve Grant of Specific Mandates to the Board to Allot and Issue Consideration Shares to Zhaojin Group Pursuant to the Transfer
Agreement
1b
For For Authorize Board to Deal With All Matters in Relation to Transfer Agreement and Its Amendment, Variation or Modification of Terms
and Conditions
1c
China Longyuan Power Group Corporation Limited
Meeting Date: 11/15/2019 Country: China
Meeting Type: Special Ticker: 916
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Sun Jinbiao as Director For For
Contemporary Amperex Technology Co., Ltd.
Meeting Date: 11/15/2019 Country: China
Meeting Type: Special Ticker: 300750
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Contemporary Amperex Technology Co., Ltd.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Additional Provision of Guarantee For For
For For Approve Change in Registered Capital and
Amend Articles of Association
2
For For Approve Guarantee Provision in Relation to
Issuance of Overseas Bonds
3
For For Approve Authorization of Board and Related Personnel to Handle Matters Related to Issuance of Overseas Bonds
4
Elkem ASA
Meeting Date: 11/15/2019 Country: Norway
Meeting Type: Special Ticker: ELK
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Elect Chairman of Meeting; Designate Inspector(s) of Minutes of Meeting
For For
For For Approve Notice of Meeting and Agenda 3
For For Elect Helge Aasen as Director 4
Freedom Foods Group Limited
Meeting Date: 11/15/2019 Country: Australia
Meeting Type: Annual Ticker: FNP
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For Against
Voter Rationale: LTI grants are not excessive, but the performance period of two years is below the three-year minimum expected in this market.
Blended Rationale: LTI grants are not excessive, but the performance period of two years is below the three-year minimum expected in this market.
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Freedom Foods Group Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Elect Ronald Perich as Director 2
Voter Rationale: He attended less than 75 percent of board and committee meetings he was entitled to attend in FY19. Attendance at board meetings is a basic requirement for directors. Further, governance concerns exist under ISS policy that the board is 100 percent non-independent
Blended Rationale: He attended less than 75 percent of board and committee meetings he was entitled to attend in FY19. Attendance at board meetings is a basic requirement for directors. Further, governance concerns exist under ISS policy that the board is 100 percent non-independent
Against For Elect Trevor Allen as Director 3
Voter Rationale: "He was classified as a non-independent director due to his transactional relationship with the company.Trevor Allen was Company Secretary and Public Officer of Fresh Dairy One Pty Ltd, an entity which sold goods and services to the company totaling $9.36 million during FY2018 (2017: nil)"
Blended Rationale: "He was classified as a non-independent director due to his transactional relationship with the company.Trevor Allen was Company Secretary and Public Officer of Fresh Dairy One Pty Ltd, an entity which sold goods and services to the company totaling $9.36 million during FY2018 (2017: nil)"
For For Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
4
iShares $ Treasury Bond 20+ Yr UCITS ETF
Meeting Date: 11/15/2019 Country: Ireland
Meeting Type: Annual Ticker: IDTL
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Ratify Deloitte as Auditors 2
For For Authorise Board to Fix Remuneration of Auditors 3
For For Elect Ros O'Shea as Director 4
For For Re-elect Jessica Irschick as Director 5
For For Re-elect Barry O'Dwyer as Director 6
For For Re-elect Paul McGowan as Director 7
For For Re-elect Paul McNaughton as Director 8
For For Elect Deirdre Somers as Director 9
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Jiangsu Hengli Hydraulic Co., Ltd.
Meeting Date: 11/15/2019 Country: China
Meeting Type: Special Ticker: 601100
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Amendments to Articles of Association to Expand Business Scope
For For
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Amendments to Articles of Association to Expand Business Scope
1
Kier Group Plc
Meeting Date: 11/15/2019 Country: United Kingdom
Meeting Type: Annual Ticker: KIE
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Remuneration Report 2
For For Elect Andrew Davies as Director 3
For For Elect Simon Kesterton as Director 4
For For Re-elect Justin Atkinson as Director 5
For For Re-elect Constance Baroudel as Director 6
For For Re-elect Kirsty Bashforth as Director 7
For For Re-elect Philip Cox as Director 8
For For Re-elect Claudio Veritiero as Director 9
For For Re-elect Adam Walker as Director 10
For For Reappoint PricewaterhouseCoopers LLP as Auditors
11
For For Authorise Board to Fix Remuneration of Auditors 12
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Kier Group Plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorise Issue of Equity 13
For For Authorise Issue of Equity without Pre-emptive Rights
14
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or
Other Capital Investment
15
For For Authorise the Company to Call General Meeting with Two Weeks' Notice
16
Link Administration Holdings Limited
Meeting Date: 11/15/2019 Country: Australia
Meeting Type: Annual Ticker: LNK
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Michael Carapiet as Director For For
For For Elect Anne McDonald as Director 2
For For Approve Remuneration Report 3
For For Approve Issuance of Performance Share Rights
to John McMurtrie
4
Sany Heavy Industry Co., Ltd.
Meeting Date: 11/15/2019 Country: China
Meeting Type: Special Ticker: 600031
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Mortgage and Finance Lease Business For For
For For Approve Use of Own Idle Funds to Invest in Financial Products
2
For For Approve Deposit, Loan and Other Financial Business with Related-party Bank
3
For For Approve Adjustments on Daily Related-party Transactions
4
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Shandong Weigao Group Medical Polymer Company Limited
Meeting Date: 11/15/2019 Country: China
Meeting Type: Special Ticker: 1066
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Distribution of Interim Dividend For For
Shandong Weigao Group Medical Polymer Company Limited
Meeting Date: 11/15/2019 Country: China
Meeting Type: Special Ticker: 1066
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Logistic and Distribution Services Framework Agreement, Annual Caps and Related Transactions
For For
Against For Approve Finance Leasing and Factoring Framework Agreement, Annual Caps and Related Transactions
2
Voter Rationale: The proposed related-party transactions are provision of financial services which may expose the company to unnecessary risks.
Blended Rationale: The proposed related-party transactions are provision of financial services which may expose the company to unnecessary risks.
For For Approve Purchase Framework Agreement, Annual Caps and Related Transactions
3
Swift Media Limited
Meeting Date: 11/15/2019 Country: Australia
Meeting Type: Annual Ticker: SW1
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Elect Robert Sofoulis as Director 2
For For Elect Darren Smorgon as Director 3
For For Elect Katherine Ostin as Director 4
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Swift Media Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Approve Issuance of Performance Rights to Xavier Kris
5
Voter Rationale: Xavier Kris is no longer CEO of SW1, and so its poor governance to award the exiting CEO a performance rights package. This is also underpinned by the poor financial performance of SW1 under Xavier's leadership.
Blended Rationale: Xavier Kris is no longer CEO of SW1, and so its poor governance to award the exiting CEO a performance rights package. This is also underpinned by the poor financial performance of SW1 under Xavier's leadership.
For For Approve Issuance of Ordinary Share Rights to Darren Smorgon
6a
For For Approve Issuance of Ordinary Share Rights to Katherine Ostin
6b
For For Approve Issuance of Options to Pippa Leary 7
For For Approve Issuance of Up to 10 Percent of the Company's Issued Capital
8
For For Approve Issuance of Replacement Tranche 1 Notes to L1 Capital Global Opportunities Master
Fund and Lind Global Macro Fund, LP
9
For For Approve Issuance of Tranche 2 Notes to L1 Capital Global Opportunities Master Fund and
Lind Global Macro Fund, LP
10
For For Ratify Past Issuance of Shares to L1 Capital Global Opportunities Master Fund and Lind
Global Macro Fund, LP
11
For None Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
12
Sysco Corporation
Meeting Date: 11/15/2019 Country: USA
Meeting Type: Annual Ticker: SYY
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1a Elect Director Thomas L. Bene For For
For For Elect Director Daniel J. Brutto 1b
For For Elect Director John M. Cassaday 1c
For For Elect Director Joshua D. Frank 1d
For For Elect Director Larry C. Glasscock 1e
For For Elect Director Bradley M. Halverson 1f
For For Elect Director John M. Hinshaw 1g
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Sysco Corporation Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Hans-Joachim Koerber 1h
For For Elect Director Stephanie A. Lundquist 1i
For For Elect Director Nancy S. Newcomb 1j
For For Elect Director Nelson Peltz 1k
For For Elect Director Edward D. Shirley 1l
For For Elect Director Sheila G. Talton 1m
For For Advisory Vote to Ratify Named Executive Officers' Compensation
2
For For Ratify Ernst & Young LLP as Auditors 3
Against Against Require Independent Board Chairman 4
The Estee Lauder Companies Inc.
Meeting Date: 11/15/2019 Country: USA
Meeting Type: Annual Ticker: EL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Ronald S. Lauder For For
Withhold For Elect Director William P. Lauder 1.2
Blended Rationale: WITHHOLD votes are warranted for William Lauder and Richard Parsons for serving as non-independent members of key board committees.
Withhold For Elect Director Richard D. Parsons 1.3
Blended Rationale: WITHHOLD votes are warranted for William Lauder and Richard Parsons for serving as non-independent members of key board committees.
For For Elect Director Lynn Forester de Rothschild 1.4
For For Elect Director Jennifer Tejada 1.5
For For Elect Director Richard F. Zannino 1.6
For For Ratify KPMG LLP as Auditors 2
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
3
Blended Rationale: The minimum vesting period is less than three years.
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
The Estee Lauder Companies Inc. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Amend Omnibus Stock Plan 4
Blended Rationale: Based on evaluation of the estimated cost, plan features, and grant practices using the Equity Plan Scorecard (EPSC), a vote AGAINST this proposal is warranted due to the following key factor(s):- Plan cost is excessive- Disclosure of CIC vesting treatment is incomplete- The plan allows broad discretion to accelerate vesting
Chongqing Zhifei Biological Products Co., Ltd.
Meeting Date: 11/18/2019 Country: China
Meeting Type: Special Ticker: 300122
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Application of Bank Credit Lines For For
For For Approve Appointment of Auditor 2
For For Amend Business Scope 3
For For Approve Amendments to Articles of Association 4
For For Approve Capital Injection for Beijing Zhifei
Green Bamboo Bio-Pharmaceutical Co., Ltd.
5
For For Approve Capital Injection for Anhui Zhifei Long
Kema Biological Pharmaceutical Co., Ltd.
6
For For Approve Extension of Resolution Validity Period
for Private Placement of Shares
7
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
For For Approve Application of Bank Credit Lines 1
For For Approve Appointment of Auditor 2
For For Amend Business Scope 3
For For Approve Amendments to Articles of Association 4
For For Approve Capital Injection for Beijing Zhifei Green Bamboo Bio-Pharmaceutical Co., Ltd.
5
For For Approve Capital Injection for Anhui Zhifei Long Kema Biological Pharmaceutical Co., Ltd.
6
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Chongqing Zhifei Biological Products Co., Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Extension of Resolution Validity Period for Private Placement of Shares
7
Haidilao International Holding Ltd.
Meeting Date: 11/18/2019 Country: Cayman Islands
Meeting Type: Special Ticker: 6862
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve New Continuing Connected Transactions and Proposed Renewal of the AnnualCaps Under the Shuyun Dongfang
Agreements in Respect of 2019 and 2020
For For
Hapvida Participacoes e Investimentos SA
Meeting Date: 11/18/2019 Country: Brazil
Meeting Type: Special Ticker: HAPV3
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Amend Article 3 Re: Corporate Purpose For For
For For Amend Article 2 Re: Opening, Alteration and Closing of Branches, Offices or Other
Establishments
2
For For Amend Articles 25 and 32 Re: Vice-President of Strategic Affairs
3
For For Rectify Subscription Agreement Re: Acquisition of GSFRP Participacoes SA Approved at the
August 22, 2019 EGM
4
Lifestyle Communities Ltd.
Meeting Date: 11/18/2019 Country: Australia
Meeting Type: Annual Ticker: LIC
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Lifestyle Communities Ltd.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Approve Remuneration Report For For
For For Elect Nicola Louise Roxon as Director 3
For For Appoint PricewaterhouseCoopers as Auditor of
the Company
4
Midea Group Co. Ltd.
Meeting Date: 11/18/2019 Country: China
Meeting Type: Special Ticker: 000333
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Employee Share Purchase Plan of Subsidiary
For For
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Employee Share Purchase Plan of Subsidiary
1
Nanosonics Ltd.
Meeting Date: 11/18/2019 Country: Australia
Meeting Type: Annual Ticker: NAN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Maurie Stang as Director For For
For For Elect David Fisher as Director 2
For For Elect Geoff Wilson as Director 3
For For Approve Remuneration Report 4
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Nanosonics Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Issuance of Performance Rights to Michael Kavanagh under the Short Term
Incentive Scheme
5
For For Approve Issuance of Options and Performance Rights to Michael Kavanagh under the Long
Term Incentive Scheme
6
For For Approve Nanosonics Omnibus Equity Plan 7
For For Approve Nanosonics Global Employee Share Plan
8
NWS Holdings Limited
Meeting Date: 11/18/2019 Country: Bermuda
Meeting Type: Annual Ticker: 659
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Final Dividend 2
For For Elect Cheng Chi Kong, Adrian as Director 3a
For For Elect Cheng Chi Ming, Brian as Director 3b
For For Elect Tsang Yam Pui as Director 3c
Against For Elect Kwong Che Keung, Gordon as Director 3d
Voter Rationale: Over boarded.
Blended Rationale: Over boarded.
Against For Elect Shek Lai Him, Abraham as Director 3e
Voter Rationale: Over boarded.
Blended Rationale: Over boarded.
For For Elect Oei Fung Wai Chi, Grace as Director 3f
For For Authorize Board to Fix Remuneration of Directors
3g
Against For Approve PricewaterhouseCoopers as Auditor and Authorize Board to Fix Their Remuneration
4
Voter Rationale: Non audit fees exceed audit fees.
Blended Rationale: Non audit fees exceed audit fees.
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
NWS Holdings Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights
5.1
Voter Rationale: excessive dilution.
Blended Rationale: excessive dilution.
For For Authorize Repurchase of Issued Share Capital 5.2
Against For Authorize Reissuance of Repurchased Shares 5.3
Voter Rationale: excessive dilution.
Blended Rationale: excessive dilution.
Senex Energy Ltd.
Meeting Date: 11/18/2019 Country: Australia
Meeting Type: Annual Ticker: SXY
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Timothy Crommelin as Director For Against
Voter Rationale: The fact that Mr Crommelin serves as a non-independent member of the Audit Committee and the company has paid its auditors non-audit fees which are significantly in excess of audit fees over the last year.
Blended Rationale: The fact that Mr Crommelin serves as a non-independent member of the Audit Committee and the company has paid its auditors non-audit fees which are significantly in excess of audit fees over the last year.
For For Elect John Warburton as Director 2
Against For Approve Remuneration Report 3
Voter Rationale: "A high concern has been identified in the quantitative pay-for performance analysis. On top of the STI and LTI, the CEO was granted an additional equity award, to be assessed over a two-year period and based on operational achievements, which would ordinarily appear to be part of the CEO's day job."
Blended Rationale: "A high concern has been identified in the quantitative pay-for performance analysis. On top of the STI and LTI, the CEO was granted an additional equity award, to be assessed over a two-year period and based on operational achievements, which would ordinarily appear to be part of the CEO's day job."
For For Approve Senex Employee Performance Rights
Plan
4
For For Approve Issuance of STI and LTI Rights to Ian
Davies
5
WuXi AppTec Co., Ltd.
Meeting Date: 11/18/2019 Country: China
Meeting Type: Special Ticker: 2359
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
WuXi AppTec Co., Ltd.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve List of Incentive Participants For For
Zhejiang Supor Co., Ltd.
Meeting Date: 11/18/2019 Country: China
Meeting Type: Special Ticker: 002032
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Nathalie Lomon as Non-Independent Director
For For
BIM Birlesik Magazalar AS
Meeting Date: 11/19/2019 Country: Turkey
Meeting Type: Special Ticker: BIMAS
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Presiding Council of Meeting and Authorize
Presiding Council to Sign Minutes of Meeting
For For
For For Approve Special Dividend 2
BMO Real Estate Investments Ltd.
Meeting Date: 11/19/2019 Country: Guernsey
Meeting Type: Annual Ticker: BREI
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory Reports
For For
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
BMO Real Estate Investments Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Remuneration Report 2
For For Approve Dividend Policy 3
For For Re-elect Vikram Lall as Director 4
For For Re-elect Andrew Gulliford as Director 5
For For Re-elect David Ross as Director 6
For For Re-elect Mark Carpenter as Director 7
For For Re-elect Alexa Henderson as Director 8
For For Ratify PricewaterhouseCoopers CI LLP as Auditors
9
For For Authorise Board to Fix Remuneration of Auditors 10
For For Authorise Issue of Equity without Pre-emptive Rights
11
For For Authorise Market Purchase of Ordinary Shares 12
Dunelm Group Plc
Meeting Date: 11/19/2019 Country: United Kingdom
Meeting Type: Annual Ticker: DNLM
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Final Dividend 2
For For Re-elect Will Adderley as Director 3
For For Re-elect Nick Wilkinson as Director 4
For For Re-elect Laura Carr as Director 5
For For Re-elect Andy Harrison as Director 6
For For Re-elect Andy Harrison as Director
(Independent Shareholder Vote)
7
For For Re-elect Marion Sears as Director 8
For For Re-elect Marion Sears as Director (Independent
Shareholder Vote)
9
For For Re-elect William Reeve as Director 10
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Dunelm Group Plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Re-elect William Reeve as Director (Independent Shareholder Vote)
11
For For Re-elect Peter Ruis as Director 12
For For Re-elect Peter Ruis as Director (Independent Shareholder Vote)
13
For For Elect Ian Bull as Director 14
For For Elect Ian Bull as Director (Independent Shareholder Vote)
15
For For Elect Paula Vennells as Director 16
For For Elect Paula Vennells as Director (Independent Shareholder Vote)
17
For For Approve Implementation Report 18
For For Reappoint PricewaterhouseCoopers LLP as Auditors
19
For For Authorise Board to Fix Remuneration of Auditors 20
For For Authorise Issue of Equity 21
For For Authorise Issue of Equity without Pre-emptive Rights
22
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or
Other Capital Investment
23
For For Authorise Market Purchase of Ordinary Shares 24
For For Authorise the Company to Call General Meeting with Two Weeks' Notice
25
JinkoSolar Holding Co., Ltd.
Meeting Date: 11/19/2019 Country: Cayman Islands
Meeting Type: Annual Ticker: JKS
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Director Kangping Chen For For
For For Elect Director Xianhua Li 2
For For Ratify PricewaterhouseCoopers Zhong Tian LLP
as Auditors
3
For For Authorize Board to Fix Remuneration of Auditors 4
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
JinkoSolar Holding Co., Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorize Board to Ratify and Execute Approved Resolutions
5
Kogan.com Limited
Meeting Date: 11/19/2019 Country: Australia
Meeting Type: Annual Ticker: KGN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For For
For For Elect Greg Ridder as Director 3.1
For For Elect Michael Hirschowitz as Director 3.2
Kuros Biosciences Ltd.
Meeting Date: 11/19/2019 Country: Switzerland
Meeting Type: Special Ticker: KURN
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve CHF 6 Million Capital Increase without Preemptive Rights
For For
Against For Transact Other Business (Voting) 2
Voter Rationale: Other business not disclosed.
Blended Rationale: Other business not disclosed.
Kuros Biosciences Ltd.
Meeting Date: 11/19/2019 Country: Switzerland
Meeting Type: Special Ticker: KURN
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Kuros Biosciences Ltd.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Share Re-registration Consent For For
Luz del Sur SA
Meeting Date: 11/19/2019 Country: Peru
Meeting Type: Special Ticker: LUSURC1
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Voluntary Revaluation of Fixed Assets For Against
Voter Rationale: Lack of disclosure.
Blended Rationale: Lack of disclosure.
For For Appoint Legal Representatives 2
Mirvac Group
Meeting Date: 11/19/2019 Country: Australia
Meeting Type: Annual/Special Ticker: MGR
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2.1 Elect John Mulcahy as Director For For
For For Elect James M. Millar as Director 2.2
For For Elect Jane Hewitt as Director 2.3
For For Elect Peter Nash as Director 2.4
For For Approve Remuneration Report 3
For For Approve Long-Term Performance Plan 4.1
For For Approve General Employee Exemption Plan 4.2
For For Approve Participation of Susan Lloyd-Hurwitz in
the Long-Term Performance Plan
5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Mirvac Group Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Abstain For Ratify Past Issuance of Stapled Securities to Institutional, Professional and Other Wholesale
Investors
6
Voter Rationale: item 6 is excluded.
Blended Rationale: item 6 is excluded.
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
For For Elect John Mulcahy as Director 2.1
For For Elect James M. Millar as Director 2.2
For For Elect Jane Hewitt as Director 2.3
For For Elect Peter Nash as Director 2.4
For For Approve Remuneration Report 3
For For Approve Long-Term Performance Plan 4.1
For For Approve General Employee Exemption Plan 4.2
For For Approve Participation of Susan Lloyd-Hurwitz in
the Long-Term Performance Plan
5
For For Ratify Past Issuance of Stapled Securities to Institutional, Professional and Other Wholesale Investors
6
Monadelphous Group Limited
Meeting Date: 11/19/2019 Country: Australia
Meeting Type: Annual Ticker: MND
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Calogero Giovanni Battista Rubino as Director
For For
For For Elect Dietmar Robert Voss as Director 2
For For Elect Susan Lee Murphy as Director 3
For For Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
4
For For Approve Grant of Performance Rights to Robert Velletri
5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Monadelphous Group Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Remuneration Report 6
New Hope Corporation Limited
Meeting Date: 11/19/2019 Country: Australia
Meeting Type: Annual Ticker: NHC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For Against
Voter Rationale: Excessive weighting to non-financial measures in the STI and LTI. Non-disclosure of substantial components of the performance thresholds and targets.
Blended Rationale: Excessive weighting to non-financial measures in the STI and LTI. Non-disclosure of substantial components of the performance thresholds and targets.
For For Elect Ian Williams as Director 2
For For Elect Thomas Millner as Director 3
For For Approve Issuance of Performance Rights to
Shane Stephan
4
New World Development Co. Ltd.
Meeting Date: 11/19/2019 Country: Hong Kong
Meeting Type: Annual Ticker: 17
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Final Dividend 2
For For Elect Cheng Chi-Kong Adrian as Director 3a
Against For Elect Yeung Ping-Leung, Howard as Director 3b
Blended Rationale: A vote AGAINST Howard Yeung Ping Leung is warranted given that he has failed to attend at least 75 percent of board and committee meetings in the most recent fiscal year, without a satisfactory explanation.
For For Elect Ho Hau-Hay, Hamilton as Director 3c
For For Elect Lee Luen-Wai, John as Director 3d
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
New World Development Co. Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Cheng Chi-Heng as Director 3e
For For Elect Au Tak-Cheong as Director 3f
For For Authorize Board to Fix Remuneration of Directors
3g
For For Approve PricewaterhouseCoopers as Auditor and Authorize Board to Fix Their Remuneration
4
For For Authorize Repurchase of Issued Share Capital 5
Against For Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights
6
Blended Rationale: A vote AGAINST this resolution is warranted given that the specified discount limit exceeds 10 percent.
Against For Approve Grant of Options Under the Share Option Scheme
7
Blended Rationale: A vote AGAINST this resolution is warranted because:- The company could be considered a mature company, and the limit under the proposed scheme is 10 percent of the company's issued capital.- The scheme lacks challenging performance criteria and meaningful vesting periods.- The directors eligible to receive options under the scheme are involved in the administration of the scheme.
Oracle Corporation
Meeting Date: 11/19/2019 Country: USA
Meeting Type: Annual Ticker: ORCL
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.1 Elect Director Jeffrey S. Berg For For
For For Elect Director Michael J. Boskin 1.2
For For Elect Director Safra A. Catz 1.3
Withhold For Elect Director Bruce R. Chizen 1.4
Voter Rationale: Incumbent chair of Governance Committee and ongoing concerns regarding substantial pledging activity and risk oversight
Blended Rationale: Incumbent chair of Governance Committee and ongoing concerns regarding substantial pledging activity and risk oversight
Withhold For Elect Director George H. Conrades 1.5
Voter Rationale: Chair of the executive pay committee and longstanding concerns about insufficient responsiveness to shareholder concerns with executive pay at the company.
Blended Rationale: Chair of the executive pay committee and longstanding concerns about insufficient responsiveness to shareholder concerns with executive pay at the company.
For For Elect Director Lawrence J. Ellison 1.6
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Oracle Corporation Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Rona A. Fairhead 1.7
For For Elect Director Jeffrey O. Henley 1.9
For For Elect Director Renee J. James 1.11
Withhold For Elect Director Charles W. Moorman, IV 1.12
Voter Rationale: Incumbent Compensation Committee member and longstanding concerns about insufficient responsiveness to shareholder concerns with executive pay at the company.
Blended Rationale: Incumbent Compensation Committee member and longstanding concerns about insufficient responsiveness to shareholder concerns with executive pay at the company.
Withhold For Elect Director Leon E. Panetta 1.13
Voter Rationale: Incumbent Compensation Committee member and longstanding concerns about insufficient responsiveness to shareholder concerns with executive pay at the company.
Blended Rationale: Incumbent Compensation Committee member and longstanding concerns about insufficient responsiveness to shareholder concerns with executive pay at the company.
For For Elect Director William G. Parrett 1.14
Withhold For Elect Director Naomi O. Seligman 1.15
Voter Rationale: Incumbent Compensation Committee member and longstanding concerns about insufficient responsiveness to shareholder concerns with executive pay at the company.
Blended Rationale: Incumbent Compensation Committee member and longstanding concerns about insufficient responsiveness to shareholder concerns with executive pay at the company.
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
2
Voter Rationale: longstanding concerns about excessive quantum and award of supplemental awards lacking majority performance conditions and insufficient responsiveness of compensation committee to shareholder concerns following low support for last year's say-on-pay proposal.
Blended Rationale: longstanding concerns about excessive quantum and award of supplemental awards lacking majority performance conditions and insufficient responsiveness of compensation committee to shareholder concerns following low support for last year's say-on-pay proposal.
For For Ratify Ernst & Young LLP as Auditors 3
For Against Report on Gender Pay Gap 4
Voter Rationale: The company is required to report on the gender pay gap and outline actions reducing it. Given the company is lagging peers in this respect and the direction of travel globally is towards better disclosure and actions to reduce the gender pay gap, a vote "for" is warranted in this case.
Blended Rationale: The company is required to report on the gender pay gap and outline actions reducing it. Given the company is lagging peers in this respect and the direction of travel globally is towards better disclosure and actions to reduce the gender pay gap, a vote "for" is warranted in this case.
Against Against Require Independent Board Chairman 5
Pro Medicus Limited
Meeting Date: 11/19/2019 Country: Australia
Meeting Type: Annual Ticker: PME
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Pro Medicus Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Approve Remuneration Report For For
For For Elect Anthony Glenning as Director 3a
For For Elect Sam Hupert as Director 3b
Propel Funeral Partners Limited
Meeting Date: 11/19/2019 Country: Australia
Meeting Type: Annual Ticker: PFP
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Elect Naomi Edwards as Director For For
For For Approve Remuneration Report 3
For For Approve Financial Assistance in Relation to Acquisition
4
For For Ratify Past Issuance of Shares in Connection with the Acquisition of Morleys Funerals Pty Ltd
5
For For Approve Issuance of Shares in Connection with the Acquisition of Dils Funeral Services Limited
6
REA Group Limited
Meeting Date: 11/19/2019 Country: Australia
Meeting Type: Annual Ticker: REA
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Approve Remuneration Report For Against
Against For Elect Tracey Fellows as Director 3a
Blended Rationale: The nominee is non-independent and the full board comprises less than 50% independent.
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
REA Group Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Elect Richard Freudenstein as Director 3b
Blended Rationale: The nominee is non-independent and the full board comprises less than 50% independent.The nominee is non-independent member of the audit, compensation, and nomination committee and the committee less than 50% independent.
Against For Elect Michael Miller as Director 3c
Blended Rationale: The nominee is non-independent and the full board comprises less than 50% independent.
For For Approve Grant of Performance Rights to Owen Wilson
4
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Remuneration Report 2
For For Elect Tracey Fellows as Director 3a
For For Elect Richard Freudenstein as Director 3b
For For Elect Michael Miller as Director 3c
For For Approve Grant of Performance Rights to Owen Wilson
4
Saracen Mineral Holdings Limited
Meeting Date: 11/19/2019 Country: Australia
Meeting Type: Annual Ticker: SAR
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect John Richards as Director For For
For For Elect Martin Reed as Director 2
Against For Approve Remuneration Report 3
Voter Rationale: A vote AGAINST the remuneration report is warranted due to the high concern identified in the ISS quantitative pay for performance analysis which stems for a problematic and excessive retention grant to the CEO
Blended Rationale: A vote AGAINST the remuneration report is warranted due to the high concern identified in the ISS quantitative pay for performance analysis which stems for a problematic and excessive retention grant to the CEO
For For Approve Issuance of Performance Rights to
Raleigh Finlayson
4
For For Approve the Increase in Maximum Aggregate
Remuneration of Non-Executive Directors
5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Shennan Circuits Co., Ltd.
Meeting Date: 11/19/2019 Country: China
Meeting Type: Special Ticker: 002916
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Amend Rules and Procedures Regarding Meetings of Board of Directors
For Against
Voter Rationale: insufficient transparency provided
Blended Rationale: insufficient transparency provided
For For Amend Working System for Independent Directors
2
For For Amend Management System of Raised Funds 3
Against For Approve Change of Registered Address and Amendments to Articles of Association
4
Voter Rationale: insufficient transparency provided
Blended Rationale: insufficient transparency provided
For For Amend Rules and Procedures Regarding General Meetings of Shareholders
5
Sonic Healthcare Limited
Meeting Date: 11/19/2019 Country: Australia
Meeting Type: Annual Ticker: SHL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Jane Wilson as Director For For
For For Elect Philip Dubois as Director 2
For For Approve Remuneration Report 3
For For Approve Grant of Long-Term Incentives to Colin
Goldschmidt
4
For For Approve Grant of Long-Term Incentives to Chris
Wilks
5
STEMMER IMAGING AG
Meeting Date: 11/19/2019 Country: Germany
Meeting Type: Annual Ticker: S9I
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
STEMMER IMAGING AG
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Approve Allocation of Income and Dividends of
EUR 0.50 per Share
For For
For For Approve Discharge of Management Board for
Fiscal 2018/19
3
For For Approve Discharge of Supervisory Board for
Fiscal 2018/19
4
For For Change Fiscal Year End to Dec. 31 5
For For Ratify Ebner Stolz GmbH & Co. KG as Auditors
for Short Fiscal July 1 - Dec. 31, 2019
6
The a2 Milk Company Limited
Meeting Date: 11/19/2019 Country: New Zealand
Meeting Type: Annual Ticker: ATM
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Authorize Board to Fix Remuneration of the Auditors
For For
For For Elect Pip Greenwood as Director 2
For For Adopt New Constitution 3
The Hain Celestial Group, Inc.
Meeting Date: 11/19/2019 Country: USA
Meeting Type: Annual Ticker: HAIN
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1a Elect Director Richard A. Beck For For
For For Elect Director Celeste A. Clark 1b
For For Elect Director Dean Hollis 1c
For For Elect Director Shervin J. Korangy 1d
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
The Hain Celestial Group, Inc. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Roger Meltzer 1e
For For Elect Director Mark L. Schiller 1f
For For Elect Director Michael B. Sims 1g
For For Elect Director Glenn W. Welling 1h
For For Elect Director Dawn M. Zier 1i
For For Advisory Vote to Ratify Named Executive Officers' Compensation
2
For For Ratify Ernst & Young LLP as Auditors 3
Wisetech Global Limited
Meeting Date: 11/19/2019 Country: Australia
Meeting Type: Annual Ticker: WTC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For Against
Voter Rationale: Bottom Quartile for NTA Growth
Blended Rationale: Bottom Quartile for NTA Growth
For For Elect Michael Gregg as Director 3
Alpha Bank SA
Meeting Date: 11/20/2019 Country: Greece
Meeting Type: Special Ticker: ALPHA
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Amend Company Articles For For
For For Approve Remuneration Policy 2
For For Approve Severance Agreements with Executives 3
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
BluGlass Limited
Meeting Date: 11/20/2019 Country: Australia
Meeting Type: Annual Ticker: BLG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For Against
Voter Rationale: Non-executive directors receive performance rights compromising board independence.
Blended Rationale: Non-executive directors receive performance rights compromising board independence.
For For Elect William Johnson as Director 2
For For Elect Stephe Wilks as Director 3
Brinker International, Inc.
Meeting Date: 11/20/2019 Country: USA
Meeting Type: Annual Ticker: EAT
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.2 Elect Director Cynthia (Cindy) L. Davis For For
For For Elect Director Joseph M. DePinto 1.3
For For Elect Director Harriet Edelman 1.4
For For Elect Director William T. Giles 1.5
For For Elect Director James C. Katzman 1.6
For For Elect Director George R. Mrkonic 1.7
For For Elect Director Prashant N. Ranade 1.8
For For Elect Director Wyman T. Roberts 1.9
For For Ratify KPMG LLP as Auditors 2
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
3
Voter Rationale: Pay for performance misalignment.Concerns regarding rigour and sufficient disclosure of financial metric performance targets; special performance option grant's problematic allowance for multiple vesting opportunities.
Blended Rationale: Pay for performance misalignment.Concerns regarding rigour and sufficient disclosure of financial metric performance targets; special performance option grant's problematic allowance for multiple vesting opportunities.
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Campbell Soup Company
Meeting Date: 11/20/2019 Country: USA
Meeting Type: Annual Ticker: CPB
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Fabiola R. Arredondo For For
For For Elect Director Howard M. Averill 1.2
For For Elect Director John P. (JP) Bilbrey 1.3
For For Elect Director Mark A. Clouse 1.4
For For Elect Director Bennett Dorrance 1.5
For For Elect Director Maria Teresa (Tessa) Hilado 1.6
For For Elect Director Sarah Hofstetter 1.7
For For Elect Director Marc B. Lautenbach 1.8
For For Elect Director Mary Alice Dorrance Malone 1.9
For For Elect Director Keith R. McLoughlin 1.10
For For Elect Director Kurt T. Schmidt 1.11
For For Elect Director Archbold D. van Beuren 1.12
For For Ratify PricewaterhouseCoopers LLP as Auditors 2
Against For Advisory Vote to Ratify Named Executive Officers' Compensation
3
Blended Rationale: The minimum vesting period is less than three years.
Clinuvel Pharmaceuticals Limited
Meeting Date: 11/20/2019 Country: Australia
Meeting Type: Annual Ticker: CUV
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Brenda Shanahan as Director 2
For For Elect Susan Smith as Director 3
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Clinuvel Pharmaceuticals Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Approve Grant of Performance Rights to Philippe Wolgen
4
Voter Rationale: The quantum of the grant of around $46 million is excessive (being approximately 33 times the CEO's new contractual fixed base remuneration); and the minimum vesting period is below three-years, which is inconsistent with Australian market expectations.
Blended Rationale: The quantum of the grant of around $46 million is excessive (being approximately 33 times the CEO's new contractual fixed base remuneration); and the minimum vesting period is below three-years, which is inconsistent with Australian market expectations.
For None Approve the Increase in Non-Executive Directors' Remuneration Pool
5
Goodman Group
Meeting Date: 11/20/2019 Country: Australia
Meeting Type: Annual Ticker: GMG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Appoint KPMG as Auditors of Goodman Logistics (HK) Limited and Authorize the Board to Fix Their Remuneration
For For
Against For Elect Phillip Pryke as Director 2
Voter Rationale: Ongoing concerns regarding the structure, composition and governance of the board. A vote AGAINST the re-election of Phillip Pryke is warranted given his role as Chairman of the Remuneration and Nomination Committee when problematic remuneration practices have been observed.
Blended Rationale: Ongoing concerns regarding the structure, composition and governance of the board. A vote AGAINST the re-election of Phillip Pryke is warranted given his role as Chairman of the Remuneration and Nomination Committee when problematic remuneration practices have been observed.
For For Elect Anthony Rozic as Director 3
For For Elect Chris Green as Director 4
For For Approve Remuneration Report 5
Against For Approve Issuance of Performance Rights to
Gregory Goodman
6
Voter Rationale: "The quantum of the grants to the CEO and Executivedirectors is generous and excessive relative to market."
Blended Rationale: "The quantum of the grants to the CEO and Executivedirectors is generous and excessive relative to market."
Against For Approve Issuance of Performance Rights to
Danny Peeters
7
Voter Rationale: "The quantum of the grants to the CEO and Executivedirectors is generous and excessive relative to market."
Blended Rationale: "The quantum of the grants to the CEO and Executivedirectors is generous and excessive relative to market."
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Goodman Group Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Approve Issuance of Performance Rights to Anthony Rozic
8
Voter Rationale: "The quantum of the grants to the CEO and Executivedirectors is generous and excessive relative to market."
Blended Rationale: "The quantum of the grants to the CEO and Executivedirectors is generous and excessive relative to market."
Against Against Approve the Spill Resolution 9
Independence Group NL
Meeting Date: 11/20/2019 Country: Australia
Meeting Type: Annual Ticker: IGO
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Peter Buck as Director For For
For For Elect Kathleen Bozanic as Director 2
For For Approve Remuneration Report 3
For For Approve IGO Employee Incentive Plan 4
For For Approve Issuance of Service Rights to Peter Bradford
5
For For Approve Issuance of Performance Rights to Peter Bradford
6
For For Approve the Change of Company Type from a Public No Liability Company to a Public
Company Limited by Shares
7
For For Approve the Change of Company Name to IGO Limited
8
For For Approve Replacement of Constitution 9
Integrated Research Limited
Meeting Date: 11/20/2019 Country: Australia
Meeting Type: Annual Ticker: IRI
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Integrated Research Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For Against
Voter Rationale: A portion of the CFO's performance rights will vest after two years, which is not in line with local market standards, which is 3 years.
Blended Rationale: A portion of the CFO's performance rights will vest after two years, which is not in line with local market standards, which is 3 years.
For For Approve Issuance of 106,707 Performance Rights to John Ruthven
2
Against For Approve Issuance of 45,731 Performance Rights to John Ruthven
3
Voter Rationale: "The vesting of the award is conditioned solely on continued employmentof three years rather than on performance conditions."
Blended Rationale: "The vesting of the award is conditioned solely on continued employmentof three years rather than on performance conditions."
For For Elect Garry Dinnie as Director 4
For For Elect Peter Lloyd as Director 5
Jpmorgan Funds - America Equity Fund
Meeting Date: 11/20/2019 Country: Luxembourg
Meeting Type: Annual Ticker: KHZCV5.F
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Audited Annual Report for the Fund For For
For For Approve Discharge of Directors 3
For For Approve Remuneration of Directors for the
Accounting Year Ended 30 June 2019
4
For For Approve Remuneration of Directors for the
Accounting Year Ending 30 June 2020
5
For For Re-Elect Susanne van Dootingh, Peter Schwicht
and Iain Saunders as Directors for 3 Years
6
For For Elect Martin Porter as Director for 1 Year 7
For For Renew Appointment of PricewaterhouseCoopers as Auditor and Authorize Board to Agree on Their Terms of Appointment
8
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Jpmorgan Funds - America Equity Fund Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Allocation of Income and Dividends 9
Lendlease Group
Meeting Date: 11/20/2019 Country: Australia
Meeting Type: Annual/Special Ticker: LLC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2a Elect David Craig as Director For For
For For Elect Nicola Wakefield Evans as Director 2b
For For Approve Remuneration Report 3
For For Approve Issuance of Performance Rights to
Stephen McCann
4
Mapletree Logistics Trust
Meeting Date: 11/20/2019 Country: Singapore
Meeting Type: Special Ticker: M44U
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Proposed Acquisitions of the Properties as Interested Person Transactions
For For
Mineral Resources Limited
Meeting Date: 11/20/2019 Country: Australia
Meeting Type: Annual Ticker: MIN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Elect Kelvin Flynn as Director 2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Mineral Resources Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Xi Xi as Director 3
Against Against Approve the Spill Resolution 4
Net 1 UEPS Technologies, Inc.
Meeting Date: 11/20/2019 Country: USA
Meeting Type: Annual Ticker: UEPS
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Herman G. Kotze For For
For For Elect Director Alex M.R. Smith 1.2
Withhold For Elect Director Christopher S. Seabrooke 1.3
Blended Rationale: WITHHOLD votes are warranted for Christopher (Chris) Seabrooke for serving on more than three public boards while serving as a CEO of an outside company. A vote FOR the remaining director nominees is warranted.
For For Elect Director Alasdair J.K. Pein 1.4
For For Elect Director Paul Edwards 1.5
For For Elect Director Alfred T. Mockett 1.6
For For Elect Director Ekta Singh-Bushell 1.7
For For Ratify Deloitte & Touche (South Africa) as
Auditors
2
For For Advisory Vote to Ratify Named Executive
Officers' Compensation
3
News Corporation
Meeting Date: 11/20/2019 Country: USA
Meeting Type: Annual Ticker: NWSA
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1a Elect Director K. Rupert Murdoch For For
For For Elect Director Lachlan K. Murdoch 1b
For For Elect Director Robert J. Thomson 1c
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
News Corporation Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Kelly Ayotte 1d
Against For Elect Director Jose Maria Aznar 1e
Voter Rationale: Board renewal in need of more media and internet experience.
Blended Rationale: Board renewal in need of more media and internet experience.
Against For Elect Director Natalie Bancroft 1f
Voter Rationale: Board renewal in need of more media and internet experience.
Blended Rationale: Board renewal in need of more media and internet experience.
Against For Elect Director Peter L. Barnes 1g
Voter Rationale: Board renewal in need of more media and internet experience.
Blended Rationale: Board renewal in need of more media and internet experience.
Against For Elect Director Joel I. Klein 1h
Voter Rationale: Board renewal in need of more media and internet experience.
Blended Rationale: Board renewal in need of more media and internet experience.
For For Elect Director James R. Murdoch 1i
Against For Elect Director Ana Paula Pessoa 1j
Voter Rationale: Board renewal in need of more media and internet experience.
Blended Rationale: Board renewal in need of more media and internet experience.
Against For Elect Director Masroor Siddiqui 1k
Voter Rationale: Board renewal in need of more media and internet experience.
Blended Rationale: Board renewal in need of more media and internet experience.
For For Ratify Ernst & Young LLP as Auditors 2
For For Advisory Vote to Ratify Named Executive
Officers' Compensation
3
For For Amend Omnibus Stock Plan 4
Origin Enterprises Plc
Meeting Date: 11/20/2019 Country: Ireland
Meeting Type: Annual Ticker: OIZ
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory Reports
For For
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Origin Enterprises Plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Final Dividend 2
For For Re-elect Kate Allum as Director 3a
For For Re-elect Gary Britton as Director 3b
For For Re-elect Sean Coyle as Director 3c
For For Re-elect Declan Giblin as Director 3d
For For Re-elect Rose Hynes as Director 3e
For For Re-elect Hugh McCutcheon as Director 3f
For For Re-elect Tom O'Mahony as Director 3g
For For Re-elect Christopher Richards as Director 3h
For For Authorise Board to Fix Remuneration of Auditors 4
For For Approve Remuneration Report 5
For For Authorise Issue of Equity 6
For For Authorise Issue of Equity without Pre-emptive Rights
7a
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or
Other Capital Investment
7b
For For Authorise Market Purchase of Ordinary Shares 8a
For For Authorise Reissuance Price Range at which Treasury Shares May be Re-issued Off-Market
8b
For For Amend Long Term Incentive Plan 9
Platinum Asset Management Ltd.
Meeting Date: 11/20/2019 Country: Australia
Meeting Type: Annual Ticker: PTM
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2a Elect Anne Loveridge as Director For Against
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Platinum Asset Management Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Voter Rationale: she is a nonindependent member of a board that is not majority independent (only 33-percent independent); (ii) she serves as the chair of the Audit, Risk & Compliance Committee and the company has paid its auditors non-audit fees which are in excess of audit fees over the last four years; and (iii) she was a former senior partner at PwC until her retirement in November 2015 and PwC has been the company's auditors since 2007.
Blended Rationale: she is a nonindependent member of a board that is not majority independent (only 33-percent independent); (ii) she serves as the chair of the Audit, Risk & Compliance Committee and the company has paid its auditors non-audit fees which are in excess of audit fees over the last four years; and (iii) she was a former senior partner at PwC until her retirement in November 2015 and PwC has been the company's auditors since 2007.
For For Elect Kerr Neilson as Director 2b
Against For Elect Elizabeth Norman as Director 2c
Voter Rationale: She is one of four executive directors on a board that is not majority independent.
Blended Rationale: She is one of four executive directors on a board that is not majority independent.
For For Approve Remuneration Report 3
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Elect Anne Loveridge as Director 2a
Blended Rationale: Vote against non-independent Board and committee members if independence on either is below 50%.Vote against audit committee Chair if not independent.A vote AGAINST the re-election of Anne Loveridge (Item 2a) is warranted because of the following concerns:- She is a non-independent member of a board which is not majority independent (only 33-percent independent);- She serves as the chair of the Audit, Risk & Compliance Committee and the company has paid its auditors, PwC, non-audit fees, which are in excess of audit fees over the last four years; and- She was a former senior partner at PwC until her retirement in November 2015 and PwC has been the company's auditors since 2007.Further, some shareholders may have concerns that Ms Loveridge held a senior role at National Australia Bank (NAB) over the past four years as a director and chairman of the Remuneration Committee, which presided over the largest "strike" against a remuneration report in this market. Material failures in governance, stewardship, risk oversight and fiduciary responsibility have been identified at NAB at the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and various regulatory and class actions.
For For Elect Kerr Neilson as Director 2b
For For Elect Elizabeth Norman as Director 2c
Against For Approve Remuneration Report 3
Blended Rationale: Vote against if the weighting of non-financial targets exceeds 50% of the bonus.
PT Unilever Indonesia Tbk
Meeting Date: 11/20/2019 Country: Indonesia
Meeting Type: Special Ticker: UNVR
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
PT Unilever Indonesia Tbk
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.a.1 Approve Resignation of Amparo Cheung Aswin
as Director
For For
For For Elect Rizki Raksanugraha as Director 1.a.2
For For Approve Resignation of Vikram Kumaraswamy
as Director
1.a.3
For For Elect Arif Hudaya as Director 1.a.4
For For Approve Stock Split and Amend Articles of
Association in Relation to the Stock Split
2
Shopping Centres Australasia Property Group RE Ltd.
Meeting Date: 11/20/2019 Country: Australia
Meeting Type: Annual Ticker: SCP
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Elect Belinda Robson as Director 2
For For Elect Steven Crane as Director 3
For For Elect Beth Laughton as Director 4
For For Approve Executive Incentive Plan 5
For For Approve Issuance of Short Term Incentive Rights to Anthony Mellowes
6
For For Approve Issuance of Long Term Incentive Rights to Anthony Mellowes
7
For For Approve Issuance of Short Term Incentive Rights to Mark Fleming
8
For For Approve Issuance of Long Term Incentive Rights to Mark Fleming
9
The Clorox Company
Meeting Date: 11/20/2019 Country: USA
Meeting Type: Annual Ticker: CLX
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
The Clorox Company
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.1 Elect Director Amy Banse For For
For For Elect Director Richard H. Carmona 1.2
For For Elect Director Benno Dorer 1.3
For For Elect Director Spencer C. Fleischer 1.4
For For Elect Director Esther Lee 1.5
For For Elect Director A.D. David Mackay 1.6
For For Elect Director Robert W. Matschullat 1.7
For For Elect Director Matthew J. Shattock 1.8
For For Elect Director Pamela Thomas-Graham 1.9
For For Elect Director Russell J. Weiner 1.10
For For Elect Director Christopher J. Williams 1.11
For For Advisory Vote to Ratify Named Executive
Officers' Compensation
2
For For Ratify Ernst & Young LLP as Auditors 3
For For Eliminate Supermajority Vote Requirement to
Approve Certain Business Combinations
4
Trinseo S.A.
Meeting Date: 11/20/2019 Country: Luxembourg
Meeting Type: Special Ticker: TSE
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Mark Tomkins For For
For For Elect Director Sandra Beach Lin 1.2
Webjet Limited
Meeting Date: 11/20/2019 Country: Australia
Meeting Type: Annual Ticker: WEB
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Webjet Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For Against
Voter Rationale: Bottom Quartile for NTA growth over 5 years.
Blended Rationale: Bottom Quartile for NTA growth over 5 years.
For For Elect Shelley Roberts as Director 2
Wilson Bayly Holmes-Ovcon Ltd.
Meeting Date: 11/20/2019 Country: South Africa
Meeting Type: Annual Ticker: WBO
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Reappoint BDO South Africa Inc as Auditors of the Company and Appoint J Schoeman as the
Designated Auditor
For For
For For Re-elect Karen Forbay as Director 2.1
For For Re-elect Savannah Maziya as Director 2.2
For For Elect Cobus Bester as Director 2.3
For For Re-elect Cobus Bester as Chairperson of the Audit Committee
3.1
For For Re-elect Ross Gardiner as Member of the Audit Committee
3.2
For For Re-elect Savannah Maziya as Member of the Audit Committee
3.3
For For Re-elect Karen Forbay as Member of the Audit Committee
3.4
For For Approve Remuneration Policy 4
For For Approve Remuneration Policy and Implementation Report
5
For For Place Authorised but Unissued Shares under Control of Directors
6
For For Authorise Ratification of Approved Resolutions 7
For For Approve Non-executive Directors' Fees 1
For For Approve Financial Assistance in Terms of Sections 44 and 45 of the Companies Act
2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Wilson Bayly Holmes-Ovcon Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorise Repurchase of Issued Share Capital 3
Alviva Holdings Ltd.
Meeting Date: 11/21/2019 Country: South Africa
Meeting Type: Annual Ticker: AVV
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Authorise Repurchase of Issued Share Capital For For
For For Approve Financial Assistance in Terms of
Section 44 of the Companies Act
2
For For Approve Non-executive Director's Fees 5
For For Re-elect Seadimo Chaba as Director 1.1
For For Elect Mathukana Mokoka as Director 1.2
For For Elect PN Masemola as Director 1.3
For For Re-elect Parmi Natesan as Chairperson of the
Audit and Risk Committee
2.1
For For Re-elect Seadimo Chaba as Member of the Audit
and Risk Committee
2.2
For For Elect Mathukana Mokoka as Member of the
Audit and Risk Committee
2.3
For For Reappoint SizweNtsalubaGobodo Grant Thornton Incorporated as Auditors of the Company and Appoint Abendran Govender as
the Designated Partner
3
For For Approve Remuneration Policy 4.1
For For Approve Remuneration Implementation Report 4.2
For For Place Authorised but Unissued Shares under
Control of Directors
5
For For Authorise Board to Issue Shares for Cash 6
For For Amend the Forfeitable Share Plan Rules 7
For For Authorise Ratification of Approved Resolutions 8
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
BlueScope Steel Limited
Meeting Date: 11/21/2019 Country: Australia
Meeting Type: Annual Ticker: BSL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For For
For For Elect Ewen Graham Wolseley Crouch as Director 3
For For Approve Grant of Share Rights to Mark Royce Vassella
4
For For Approve Grant of Alignment Rights to Mark Royce Vassella
5
For For Approve On-Market Buy-Back of Shares 6
BWX Limited
Meeting Date: 11/21/2019 Country: Australia
Meeting Type: Annual Ticker: BWX
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Fiona Bennett as Director 2
For For Elect Jodie Leonard as Director 3
For For Elect Rod Walker as Director 4
For For Approve Grant of Share Rights to David Fenlon 5
CDK Global, Inc.
Meeting Date: 11/21/2019 Country: USA
Meeting Type: Annual Ticker: CDK
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1a Elect Director Leslie A. Brun For For
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
CDK Global, Inc. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Director Willie A. Deese 1b
For For Elect Director Amy J. Hillman 1c
For For Elect Director Brian M. Krzanich 1d
For For Elect Director Stephen A. Miles 1e
For For Elect Director Robert E. Radway 1f
For For Elect Director Stephen F. Schuckenbrock 1g
For For Elect Director Frank S. Sowinski 1h
For For Elect Director Eileen J. Voynick 1i
Against For Advisory Vote to Ratify Named Executive Officers' Compensation
2
Blended Rationale: The minimum vesting period is less than three years.
For For Ratify Deloitte & Touche LLP as Auditors 3
City Chic Collective Limited
Meeting Date: 11/21/2019 Country: Australia
Meeting Type: Annual Ticker: CCX
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Michael Hardwick as Director 2
Against For Approve the Increase in Maximum Aggregate
Remuneration of Non-Executive Directors
3
Voter Rationale: "Based on these factors, and assuming that there is no increase to director fees during the year. This would leave $307,865, which would enable the company to increase director fees by 105.38 percent without breaching the current fee cap of $600,000.Should shareholders approve the proposed increase in fee cap, the company would then be allowed to increase director fees by up to 242.31 percent. This proposed degree of flexibility is unreasonable in light of the room under the current fee cap.As such, the request does not warrant shareholder support. The company is advised to provide a rationale for any fee cap increase and to request for a more reasonably sized increase."
Blended Rationale: "Based on these factors, and assuming that there is no increase to director fees during the year. This would leave $307,865, which would enable the company to increase director fees by 105.38 percent without breaching the current fee cap of $600,000.Should shareholders approve the proposed increase in fee cap, the company would then be allowed to increase director fees by up to 242.31 percent. This proposed degree of flexibility is unreasonable in light of the room under the current fee cap.As such, the request does not warrant shareholder support. The company is advised to provide a rationale for any fee cap increase and to request for a more reasonably sized increase."
For For Approve 2019 Employee Share Plan 4
For For Approve Issuance of Shares to Phil Ryan 5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Close Brothers Group Plc
Meeting Date: 11/21/2019 Country: United Kingdom
Meeting Type: Annual Ticker: CBG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Remuneration Report 2
For For Approve Final Dividend 3
For For Re-elect Mike Biggs as Director 4
For For Re-elect Preben Prebensen as Director 5
For For Re-elect Mike Morgan as Director 6
For For Re-elect Oliver Corbett as Director 7
For For Elect Peter Duffy as Director 8
For For Re-elect Geoffrey Howe as Director 9
For For Re-elect Lesley Jones as Director 10
For For Re-elect Bridget Macaskill as Director 11
For For Reappoint PricewaterhouseCoopers LLP as Auditors
12
For For Authorise Board to Fix Remuneration of Auditors 13
For For Authorise Issue of Equity 14
For For Authorise Issue of Equity in Relation to the Issue of AT1 Securities
15
For For Authorise Issue of Equity without Pre-emptive Rights
16
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or
Other Capital Investment
17
For For Authorise Issue of Equity without Pre-emptive Rights in Relation to the Issue of AT1 Securities
18
For For Authorise Market Purchase of Ordinary Shares 19
For For Authorise the Company to Call General Meeting with Two Weeks' Notice
20
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
CNOOC Limited
Meeting Date: 11/21/2019 Country: Hong Kong
Meeting Type: Special Ticker: 883
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Non-exempt Continuing Connected Transactions
For For
For For Approve Proposed Caps for Each Category of the Non-exempt Continuing Connected
Transactions
2
Cracker Barrel Old Country Store, Inc.
Meeting Date: 11/21/2019 Country: USA
Meeting Type: Annual Ticker: CBRL
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.1 Elect Director Thomas H. Barr For For
For For Elect Director Carl T. Berquist 1.2
For For Elect Director Sandra B. Cochran 1.3
For For Elect Director Meg G. Crofton 1.4
For For Elect Director Richard J. Dobkin 1.5
For For Elect Director Norman E. Johnson 1.6
For For Elect Director William W. McCarten 1.7
For For Elect Director Coleman H. Peterson 1.8
For For Elect Director Andrea M. Weiss 1.9
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
2
Blended Rationale: Vote against if vesting period is less than 3 years
For For Ratify Deloitte & Touche LLP as Auditors 3
Ferguson Plc
Meeting Date: 11/21/2019 Country: Jersey
Meeting Type: Annual Ticker: FERG
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Ferguson Plc
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory
Reports
For For
Against For Approve Remuneration Report 2
Voter Rationale: excessive increases in remuneration when company is more simplistic.
Blended Rationale: excessive increases in remuneration when company is more simplistic.
Against For Approve Remuneration Policy 3
Voter Rationale: excessive increases in remuneration when company is more simplistic.
Blended Rationale: excessive increases in remuneration when company is more simplistic.
For For Approve Final Dividend 4
For For Re-elect Tessa Bamford as Director 5
For For Re-elect Gareth Davis as Director 6
For For Elect Geoff Drabble as Director 7
For For Elect Catherine Halligan as Director 8
For For Re-elect Kevin Murphy as Director 9
For For Re-elect Alan Murray as Director 10
For For Re-elect Michael Powell as Director 11
For For Elect Tom Schmitt as Director 12
For For Re-elect Dr Nadia Shouraboura as Director 13
For For Re-elect Jacqueline Simmonds as Director 14
For For Reappoint Deloitte LLP as Auditors 15
For For Authorise the Audit Committee to Fix
Remuneration of Auditors
16
For For Authorise EU Political Donations and
Expenditure
17
For For Authorise Issue of Equity 18
Against For Amend Long Term Incentive Plan 2019 19
Voter Rationale: excessive increases in remuneration when company is more simplistic.
Blended Rationale: excessive increases in remuneration when company is more simplistic.
For For Authorise Issue of Equity without Pre-emptive
Rights
20
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or Other Capital Investment
21
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Ferguson Plc Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorise Market Purchase of Ordinary Shares 22
Hansen Technologies Limited
Meeting Date: 11/21/2019 Country: Australia
Meeting Type: Annual Ticker: HSN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Elect Bruce Adams as Director 2
For For Elect Jennifer Douglas as Director 3
For For Approve Grant of Performance Rights to Andrew
Hansen
4
For For Approve the Increase in Maximum Aggregate
Remuneration of Non-Executive Directors
5
IPH Limited
Meeting Date: 11/21/2019 Country: Australia
Meeting Type: Annual Ticker: IPH
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
3a Elect John Atkin as Director For For
For For Elect Jingmin Qian as Director 3b
For For Approve IPH Limited Employee Incentive Plan 4
For For Approve Issuance of Performance Rights to Andrew Blattman
5
For For Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
6
For For Approve Grant of Financial Assistance by Xenith IP Group Ltd
7a
For For Approve Grant of Financial Assistance by Shelston IP Pty Ltd
7b
For For Approve Grant of Financial Assistance by Griffith Hack Holdings Pty Ltd
7c
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
IPH Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Grant of Financial Assistance by GH PTM Pty Ltd
7d
For For Approve Remuneration Report 8
JD Wetherspoon Plc
Meeting Date: 11/21/2019 Country: United Kingdom
Meeting Type: Annual Ticker: JDW
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Remuneration Report 2
For For Approve Final Dividend 3
For For Re-elect Tim Martin as Director 4
For For Re-elect John Hutson as Director 5
For For Re-elect Su Cacioppo as Director 6
For For Re-elect Ben Whitley as Director 7
For For Re-elect Debra van Gene as Director 8
For For Re-elect Sir Richard Beckett as Director 9
For For Re-elect Harry Morley as Director 10
For For Reappoint Grant Thornton LLP as Auditors and
Authorise Their Remuneration
11
For For Authorise Issue of Equity 12
For For Authorise Issue of Equity without Pre-emptive
Rights
13
For For Authorise Market Purchase of Ordinary Shares 14
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
15
JD Wetherspoon Plc
Meeting Date: 11/21/2019 Country: United Kingdom
Meeting Type: Special Ticker: JDW
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
JD Wetherspoon Plc
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Waiver of Rule 9 of the Takeover Code For For
Johns Lyng Group Limited
Meeting Date: 11/21/2019 Country: Australia
Meeting Type: Annual Ticker: JLG
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
Against For Elect Lindsay Barber as Director 2
Voter Rationale: He is one of four executive directors on a non-majority independent board.
Blended Rationale: He is one of four executive directors on a non-majority independent board.
Against For Approve Issuance of Performance Rights to Scott Didier
3A
Voter Rationale: Unacceptable vesting period, vesting period of the proposed grant is not in line with local market standards, which recommend substantial vesting only after at least three years. Also Non-disclosure of ROE targets.
Blended Rationale: Unacceptable vesting period, vesting period of the proposed grant is not in line with local market standards, which recommend substantial vesting only after at least three years. Also Non-disclosure of ROE targets.
Against For Approve Issuance of Performance Rights to Lindsay Barber
3B
Voter Rationale: Unacceptable vesting period, vesting period of the proposed grant is not in line with local market standards, which recommend substantial vesting only after at least three years. Also Non-disclosure of ROE targets.
Blended Rationale: Unacceptable vesting period, vesting period of the proposed grant is not in line with local market standards, which recommend substantial vesting only after at least three years. Also Non-disclosure of ROE targets.
Against For Approve Issuance of Performance Rights to
Matthew Lunn
3C
Voter Rationale: Unacceptable vesting period, vesting period of the proposed grant is not in line with local market standards, which recommend substantial vesting only after at least three years. Also Non-disclosure of ROE targets.
Blended Rationale: Unacceptable vesting period, vesting period of the proposed grant is not in line with local market standards, which recommend substantial vesting only after at least three years. Also Non-disclosure of ROE targets.
Against For Approve Issuance of Performance Rights to
Adrian Gleeson
3D
Voter Rationale: Unacceptable vesting period, vesting period of the proposed grant is not in line with local market standards, which recommend substantial vesting only after at least three years. Also Non-disclosure of ROE targets.
Blended Rationale: Unacceptable vesting period, vesting period of the proposed grant is not in line with local market standards, which recommend substantial vesting only after at least three years. Also Non-disclosure of ROE targets.
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Moscow Exchange MICEX-RTS PJSC
Meeting Date: 11/21/2019 Country: Russia
Meeting Type: Special Ticker: MOEX
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Early Termination of Powers of Audit Commission
For For
For For Elect Mikhail Kireev as Member of Audit Commission
2.1
For For Elect Natalia Perchatkina as Member of Audit Commission
2.2
For For Elect Olga Romantsova as Member of Audit Commission
2.3
Noni B Limited
Meeting Date: 11/21/2019 Country: Australia
Meeting Type: Annual Ticker: NBL
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
Against For Elect David Wilshire as Director 2
Voter Rationale: "Concern on the board's lack of independence. Local market standards call for boards to have a majority of independent directors and make noexception for companies with a substantial or controlling shareholders. "
Blended Rationale: "Concern on the board's lack of independence. Local market standards call for boards to have a majority of independent directors and make noexception for companies with a substantial or controlling shareholders. "
For For Elect Jacqueline A Frank as Director 3
For For Approve the Change of Company Name to Mosaic Brands Limited
4
Against None Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
5
For For Approve Issuance of Bonus Shares to Scott Evans
6
Qube Holdings Limited
Meeting Date: 11/21/2019 Country: Australia
Meeting Type: Annual Ticker: QUB
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Qube Holdings Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Allan Davies as Director For For
For For Elect Alan Miles as Director 2
For For Elect John Stephen Mann as Director 3
For For Approve Remuneration Report 4
For For Approve Grant of Share Appreciation Rights to
Maurice James
5
For For Approve Qube Long Term Incentive (SAR) Plan 6
For For Approve Grant of Financial Assistance in
Relation to the MCS Acquisition
7
ResMed Inc.
Meeting Date: 11/21/2019 Country: USA
Meeting Type: Annual Ticker: RMD
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1a Elect Director Carol Burt For For
For For Elect Director Jan De Witte 1b
For For Elect Director Rich Sulpizio 1c
For For Ratify KPMG LLP as Auditors 2
For For Advisory Vote to Ratify Named Executive Officers' Compensation
3
Resolute Mining Limited
Meeting Date: 11/21/2019 Country: Australia
Meeting Type: Special Ticker: RSG
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Resolute Mining Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Issuance of Performance Rights to
John Welborn
For Against
Voter Rationale: "The quantum is excessive and there is insufficient justification for thisadditional grant of incentive remuneration, when the CEO already has STI and LTI opportunities in place which are consistent with shareholder expectations, peers and market practice."
Blended Rationale: "The quantum is excessive and there is insufficient justification for thisadditional grant of incentive remuneration, when the CEO already has STI and LTI opportunities in place which are consistent with shareholder expectations, peers and market practice."
Rhipe Limited
Meeting Date: 11/21/2019 Country: Australia
Meeting Type: Annual Ticker: RHP
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For Against
Voter Rationale: " The vesting period of incentive securities granted by the company is not inline with local market standards, which recommend substantial vesting only after at least three years."
Blended Rationale: " The vesting period of incentive securities granted by the company is not inline with local market standards, which recommend substantial vesting only after at least three years."
For For Elect Mark Pierce as Director 3
For For Elect Michael Tierney as Director 4
For For Elect Gary Cox as Director 5
For For Elect Olivier Dispas as Director 6
For For Elect Inese Kingsmill as Director 7
For For Ratify Past Issuance of Shares to Heidi & Kris
Pty Limited
8
Against For Approve Issuance of Performance Rights to
Dominic O'Hanlon
9
Voter Rationale: The proposed performance rights are only subject to a two-year performance period, which is also not in line with local market standards
Blended Rationale: The proposed performance rights are only subject to a two-year performance period, which is also not in line with local market standards
For None Approve the Increase in Maximum Aggregate
Remuneration of Non-Executive Directors
10
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
SomnoMed Limited
Meeting Date: 11/21/2019 Country: Australia
Meeting Type: Annual Ticker: SOM
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For For
For For Elect Lee Ausburn as Director 3
For For Elect Robert Scherini as Director 4
TAURON Polska Energia SA
Meeting Date: 11/21/2019 Country: Poland
Meeting Type: Special Ticker: TPE
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Elect Meeting Chairman For For
For For Approve Agenda of Meeting 4
For For Waive Secrecy for Elections of Members of Vote
Counting Commission
5
For For Elect Members of Vote Counting Commission 6
Against None Amend Dec. 15, 2016, EGM, Resolution, May 29, 2017, AGM, Resolution and May 8, 2019, AGM, Resolution Re: Approve Remuneration Policy for Management Board Members
7
Against None Amend Dec. 15, 2016, EGM, Resolution Re: Approve Remuneration Policy for Supervisory Board Members
8
Against None Approve Changes in Composition of Supervisory
Board
9
Tonly Electronics Holdings Limited
Meeting Date: 11/21/2019 Country: Cayman Islands
Meeting Type: Special Ticker: 1249
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Tonly Electronics Holdings Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Revision of Annual Cap Under the
Master Sale and Purchase (2019) Agreement
For For
Against For Approve Master Financial Services (2019 Renewal) Agreement, Relevant Proposed Annual Caps and Related Transactions
2
Voter Rationale: The proposed related-party transactions include a financial service agreement with the group finance company, which may expose the company to unnecessary risks.
Blended Rationale: The proposed related-party transactions include a financial service agreement with the group finance company, which may expose the company to unnecessary risks.
For For Approve Master Sale and Purchase (2019 Renewal) Agreement, Relevant Proposed Annual
Caps and Related Transactions
3
Western Areas Ltd.
Meeting Date: 11/21/2019 Country: Australia
Meeting Type: Annual Ticker: WSA
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Ian Macliver as Director For For
For For Approve Remuneration Report 2
For For Approve Performance Rights Plan 3
For For Approve Grant of Performance Rights to Daniel
Lougher
4
Arena REIT
Meeting Date: 11/22/2019 Country: Australia
Meeting Type: Annual/Special Ticker: ARF
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Rosemary Hartnett as Director 2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Arena REIT Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Simon Parsons as Director 3
For For Ratify Past Issuance of Securities to Existing and New Institutional Investors
4
For For Approve Grant of Deferred STI Rights to Rob de Vos
5
For For Approve Grant LTI Performance Rights to Rob de Vos
6
For For Approve Grant of Deferred STI Rights to Gareth Winter
7
For For Approve Grant of LTI Performance Rights to Gareth Winter
8
Base Resources Limited
Meeting Date: 11/22/2019 Country: Australia
Meeting Type: Annual Ticker: BSE
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report None For
Against For Elect Malcolm Macpherson as Director 2
Voter Rationale: "He is a member of the company's audit committee and the company is paying its auditor a high level of fees for services not related to the audit function. Excessive fees generated from non-audit services could pose a potential conflict of interest for the audit firm and impair itsindependent judgment."
Blended Rationale: "He is a member of the company's audit committee and the company is paying its auditor a high level of fees for services not related to the audit function. Excessive fees generated from non-audit services could pose a potential conflict of interest for the audit firm and impair itsindependent judgment."
Against For Elect Colin Bwye as Director 3
Voter Rationale: Australian governance standards do not support multiple executive directors serving on non-majority independent boards
Blended Rationale: Australian governance standards do not support multiple executive directors serving on non-majority independent boards
For For Approve Grant of Performance Rights to Tim
Carstens
4
For For Approve Grant of Performance Rights to Colin
Bwye
5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Clover Corp. Ltd.
Meeting Date: 11/22/2019 Country: Australia
Meeting Type: Annual Ticker: CLV
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report None For
For For Elect Merilyn Sleigh as Director 2
Against For Elect Graeme Billings as Director 3
Voter Rationale: overboarding concerns
Blended Rationale: overboarding concerns
For For Approve Variation of Performance Rights Granted to Peter Davey Under the Long Term
Incentive Plan
4
For For Approve Leaving Benefit of Peter Davey due to Early Vesting of Performance Rights
5
CPN Retail Growth Leasehold REIT
Meeting Date: 11/22/2019 Country: Thailand
Meeting Type: Special Ticker: CPNREIT
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Investment in Group-1 Assets from Central Pattana Public Company Limited, Appointment of Property Manager and
Connected Transactions of the REIT Manager
For For
For For Approve Investment in Group-2 Assets from GLAND Office Leasehold Real Estate Investment Trust, Appointment of Property Managers and
Connected Transactions of the REIT Manager
3
For For Approve Amendment of the Property Manager Appointment Agreement for Assets Currently Invested in by CPNREIT
4
For For Approve Loan Transaction 5.1
For For Approve Entering into the Transaction that has
Conflict of Interest with CPNREIT
5.2
For For Approve Capital Increase for Investment in Group-1 Assets, Group-2 Assets and Payment of Rental Fees for CentralPlaza Rama 2 Project
(Renewal Period)
6
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
CPN Retail Growth Leasehold REIT Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Allocation of Additional Trust Units for Investment in Group-1 Assets, Group-2 Assets and Payment of Rental Fees for CentralPlaza Rama 2 Project (Renewal Period)
7
For For Approve Issuance and Sale of Debentures 8
For For Approve Amendment of the Trust Deed 9
Against For Other Business 10
Voter Rationale: Until more detailed information is made available concerning the issues that will be discussed, the possible risks warrant a vote against this resolution
Blended Rationale: Until more detailed information is made available concerning the issues that will be discussed, the possible risks warrant a vote against this resolution
Donaldson Company, Inc.
Meeting Date: 11/22/2019 Country: USA
Meeting Type: Annual Ticker: DCI
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Director Michael J. Hoffman For For
For For Elect Director Douglas A. Milroy 1.2
For For Elect Director Willard D. Oberton 1.3
For For Elect Director John P. Wiehoff 1.4
Against For Advisory Vote to Ratify Named Executive
Officers' Compensation
2
Blended Rationale: The minimum vesting period is less than three years.
Against For Approve Omnibus Stock Plan 3
Blended Rationale: The minimum vesting period is less than three years.
For For Ratify PricewaterhouseCoopers LLP as Auditors 4
Foshan Haitian Flavouring & Food Co., Ltd.
Meeting Date: 11/22/2019 Country: China
Meeting Type: Special Ticker: 603288
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Foshan Haitian Flavouring & Food Co., Ltd.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.1 Elect Pang Kang as Non-Independent Director For For
For For Elect Cheng Xue as Non-Independent Director 1.2
For For Elect Chen Junyang as Non-Independent
Director
1.3
For For Elect Wen Zhizhou as Non-Independent Director 1.4
For For Elect He Tingwei as Non-Independent Director 1.5
For For Elect Huang Shuliang as Non-Independent
Director
1.6
For For Elect Zhu Tao as Independent Director 2.1
For For Elect Sun Zhanli as Independent Director 2.2
For For Elect Chao Gang as Independent Director 2.3
For For Elect Chen Min as Supervisor 3.1
For For Elect Li Jun as Supervisor 3.2
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
For For Elect Pang Kang as Non-Independent Director 1.1
For For Elect Cheng Xue as Non-Independent Director 1.2
For For Elect Chen Junyang as Non-Independent Director
1.3
For For Elect Wen Zhizhou as Non-Independent Director 1.4
For For Elect He Tingwei as Non-Independent Director 1.5
For For Elect Huang Shuliang as Non-Independent
Director
1.6
For For Elect Zhu Tao as Independent Director 2.1
For For Elect Sun Zhanli as Independent Director 2.2
For For Elect Chao Gang as Independent Director 2.3
For For Elect Chen Min as Supervisor 3.1
For For Elect Li Jun as Supervisor 3.2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Harmony Gold Mining Co. Ltd.
Meeting Date: 11/22/2019 Country: South Africa
Meeting Type: Annual Ticker: HAR
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Given Sibiya as Director For For
For For Elect Grathel Motau as Director 2
For For Re-elect Andre Wilkens as Director 3
For For Re-elect Vishnu Pillay as Director 4
For For Re-elect Karabo Nondumo as Director 5
For For Re-elect Simo Lushaba as Director 6
For For Re-elect Ken Dicks as Director 7
For For Re-elect Fikile De Buck as Member of the Audit and Risk Committee
8
For For Re-elect Karabo Nondumo as Member of the Audit and Risk Committee
9
For For Re-elect Simo Lushaba as Member of the Audit and Risk Committee
10
For For Re-elect John Wetton as Member of the Audit and Risk Committee
11
For For Elect Given Sibiya as Member of the Audit and Risk Committee
12
For For Reappoint PricewaterhouseCoopers Incorporated as Auditors of the Company
13
For For Approve Remuneration Policy 14
Against For Approve Implementation Report 15
Voter Rationale: Lack of disclosure.
Blended Rationale: Lack of disclosure.
For For Authorise Board to Issue Shares for Cash 16
For For Approve Financial Assistance in Terms of Section 45 of the Companies Act
1
For For Approve Non-executive Directors' Remuneration 2
Harmony Gold Mining Co. Ltd.
Meeting Date: 11/22/2019 Country: South Africa
Meeting Type: Annual Ticker: HAR
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Harmony Gold Mining Co. Ltd.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Given Sibiya as Director For For
For For Elect Grathel Motau as Director 2
For For Re-elect Andre Wilkens as Director 3
For For Re-elect Vishnu Pillay as Director 4
For For Re-elect Karabo Nondumo as Director 5
For For Re-elect Simo Lushaba as Director 6
For For Re-elect Ken Dicks as Director 7
For For Re-elect Fikile De Buck as Member of the Audit
and Risk Committee
8
For For Re-elect Karabo Nondumo as Member of the
Audit and Risk Committee
9
For For Re-elect Simo Lushaba as Member of the Audit
and Risk Committee
10
For For Re-elect John Wetton as Member of the Audit
and Risk Committee
11
For For Elect Given Sibiya as Member of the Audit and
Risk Committee
12
For For Reappoint PricewaterhouseCoopers
Incorporated as Auditors of the Company
13
For For Approve Remuneration Policy 14
For For Approve Implementation Report 15
For For Authorise Board to Issue Shares for Cash 16
For For Approve Financial Assistance in Terms of
Section 45 of the Companies Act
1
For For Approve Non-executive Directors' Remuneration 2
Industrial & Commercial Bank of China Limited
Meeting Date: 11/22/2019 Country: China
Meeting Type: Special Ticker: 1398
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Gu Shu as Director For For
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Industrial & Commercial Bank of China Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Payment Plan of Remuneration to Directors for 2018
2
For For Approve Payment Plan of Remuneration to Supervisors for 2018
3
For For Approve Application for Provisional Authorization Limit on External Donations
4
For For Elect Cao Liqun as Director 5
For For Elect Feng Weidong as Director 6
Industrial & Commercial Bank of China Limited
Meeting Date: 11/22/2019 Country: China
Meeting Type: Special Ticker: 1398
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Gu Shu as Director For For
For For Approve Payment Plan of Remuneration to
Directors for 2018
2
For For Approve Payment Plan of Remuneration to
Supervisors for 2018
3
For For Approve Application for Provisional Authorization
Limit on External Donations
4
For For Elect Cao Liqun as Director 5
For For Elect Feng Weidong as Director 6
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
For For Elect Gu Shu as Director 1
For For Approve Payment Plan of Remuneration to Directors for 2018
2
For For Approve Payment Plan of Remuneration to Supervisors for 2018
3
For For Approve Application for Provisional Authorization Limit on External Donations
4
For For Elect Cao Liqun as Director 5
For For Elect Feng Weidong as Director 6
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Japan Hotel REIT Investment Corp.
Meeting Date: 11/22/2019 Country: Japan
Meeting Type: Special Ticker: 8985
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Amend Articles to Change Japanese Era Year to Western Year
For For
For For Elect Executive Director Masuda, Kaname 2
For For Elect Supervisory Director Mishiku, Tetsuya 3.1
Against For Elect Supervisory Director Kashii, Hiroto 3.2
Blended Rationale: A vote AGAINST this nominee is warranted because:- The nominee's affiliation with the REIT could compromise independence.
For For Elect Supervisory Director Umezawa, Mayumi 3.3
For For Elect Alternate Executive Director Furukawa, Hisashi
4
Japan Retail Fund Investment Corp.
Meeting Date: 11/22/2019 Country: Japan
Meeting Type: Special Ticker: 8953
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Amend Articles to Amend Asset Management
Compensation
For For
For For Elect Executive Director Namba, Shuichi 2
For For Elect Supervisory Director Nishida, Masahiko 3.1
For For Elect Supervisory Director Usuki, Masaharu 3.2
For For Elect Alternate Executive Director Araki, Keita 4.1
For For Elect Alternate Executive Director Machida,
Takuya
4.2
For For Elect Alternate Supervisory Director Murayama,
Shuhei
5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Kathmandu Holdings Limited
Meeting Date: 11/22/2019 Country: New Zealand
Meeting Type: Annual Ticker: KMD
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Xavier Simonet as Director For For
For For Elect Andrea Martens as Director 2
For For Authorize Board to Fix Remuneration of the Auditors
3
LaSalle Logiport REIT
Meeting Date: 11/22/2019 Country: Japan
Meeting Type: Special Ticker: 3466
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Amend Articles to Amend Permitted Investment Types - Amend Asset Management Compensation
For For
For For Elect Executive Director Fujiwara, Toshimitsu 2
For For Elect Alternate Executive Director Konishi,
Ryunosuke
3
For For Elect Supervisory Director Shibata, Kentaro 4.1
For For Elect Supervisory Director Nishiuchi, Koji 4.2
OptiComm Limited
Meeting Date: 11/22/2019 Country: Australia
Meeting Type: Annual Ticker: OPC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report None For
For For Appoint BDO Audit Pty Ltd as Auditor of the Company
2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
OptiComm Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect David Redfern as Director 3
For For Approve Grant of Performance Rights to Paul Cross
4
Orocobre Limited
Meeting Date: 11/22/2019 Country: Australia
Meeting Type: Annual Ticker: ORE
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Elect Richard Seville as Director 2
For For Elect Leanne Heywood as Director 3
For For Elect Fernando Oris de Roa as Director 4
For For Approve Amendments to the Employee
Performance Rights and Options Plan
5
For None Approve Grant of Performance Rights to Martin
Perez de Solay
6
For None Approve Retirement Benefits to Martin Perez de
Solay
7
For None Approve Non-Executive Director Share Rights
Plan
8
Ramelius Resources Limited
Meeting Date: 11/22/2019 Country: Australia
Meeting Type: Annual Ticker: RMS
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Approve Remuneration Report For For
For For Elect Michael Andrew Bohm as Director 3
For For Elect Natalia Streltsova as Director 4
For For Approve Grant of Performance Rights to Mark William Zeptner
5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Ramelius Resources Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
6
For For Approve Performance Rights Plan 7
For For Approve Renewal of Proportional Takeover Provisions
8
Severstal PAO
Meeting Date: 11/22/2019 Country: Russia
Meeting Type: Special Ticker: CHMF
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Interim Dividends of RUB 27.47 per
Share for First Nine Months of Fiscal 2019
For For
Silver Lake Resources Limited
Meeting Date: 11/22/2019 Country: Australia
Meeting Type: Annual Ticker: SLR
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Kelvin Flynn as Director 2
For For Elect Peter Alexander as Director 3
Sungrow Power Supply Co., Ltd.
Meeting Date: 11/22/2019 Country: China
Meeting Type: Special Ticker: 300274
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Sungrow Power Supply Co., Ltd.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Repurchase and Cancellation of
Performance Shares
For For
For For Amend Articles of Association to Reduce
Registered Capital
2
For For Approve Guarantee Provision 3
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
For For Approve Repurchase and Cancellation of
Performance Shares
1
For For Amend Articles of Association to Reduce
Registered Capital
2
For For Approve Guarantee Provision 3
Air Partner Plc
Meeting Date: 11/25/2019 Country: United Kingdom
Meeting Type: Special Ticker: AIR
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Save as You Earn Plan For For
For For Authorise Issue of Equity 2
For For Authorise Issue of Equity without Pre-emptive Rights
3
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or
Other Capital Investment
4
argenx SE
Meeting Date: 11/25/2019 Country: Netherlands
Meeting Type: Special Ticker: ARGX
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
argenx SE
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Amend Articles to Reflect Changes in Capital For For
Against For Amend Argenx Option Plan 3
Voter Rationale: Potential for excessive dilution and a lack of disclosure.
Blended Rationale: Potential for excessive dilution and a lack of disclosure.
Against For Approve Stock Option Grants up to a Maximum
of 4 Percent of the Outstanding Capital
4
Voter Rationale: Potential for excessive dilution and a lack of disclosure.
Blended Rationale: Potential for excessive dilution and a lack of disclosure.
Future Plc
Meeting Date: 11/25/2019 Country: United Kingdom
Meeting Type: Special Ticker: FUTR
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Acquisition of Ti Media Business For For
Ridley Corporation Limited
Meeting Date: 11/25/2019 Country: Australia
Meeting Type: Annual Ticker: RIC
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For For
For For Elect David Lord as Director 3
For For Elect Ejnar Knudsen as Director 4
For For Approve Issuance of Performance Rights to
Quinton Hildebrand
5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Stanmore Coal Limited
Meeting Date: 11/25/2019 Country: Australia
Meeting Type: Annual Ticker: SMR
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Elect Darren Yeates as Director 2
For For Elect Jimmy Lim as Director 3
For For Approve Employee Incentive Scheme 4
For None Approve the Increase in Non-Executive Directors' Fee Pool
5
Westgold Resources Limited
Meeting Date: 11/25/2019 Country: Australia
Meeting Type: Annual Ticker: WGX
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Johannes Norregaard as Director 2
Against For Elect Suresh Shet as Director 3
Voter Rationale: Lack of independence on the board.
Blended Rationale: Lack of independence on the board.
For For Ratify Past Issuance of Shares to Institutional
and Professional Investors
4
For For Approve Capital Reduction 5
Zhejiang Satellite Petrochemical Co., Ltd.
Meeting Date: 11/25/2019 Country: China
Meeting Type: Special Ticker: 002648
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Zhejiang Satellite Petrochemical Co., Ltd.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Amendments to Articles of Association For For
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
For For Approve Amendments to Articles of Association 1
Beach Energy Limited
Meeting Date: 11/26/2019 Country: Australia
Meeting Type: Annual Ticker: BPT
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Phillip Bainbridge as Director 2
For For Elect Colin Beckett as Director 3
For For Elect Peter Moore as Director 4
For For Elect Matthew Kay as Director 5
For For Elect Sally-Anne Layman as Director 6
For For Approve Issuance of Securities to Matthew Kay Under the Beach 2018 Short Term Incentive
Offer
7
For For Approve Issuance of Securities to Matthew Kay Under the Beach 2019 Long Term Incentive
Offer
8
For For Adopt New Constitution 9
Bravura Solutions Limited
Meeting Date: 11/26/2019 Country: Australia
Meeting Type: Annual Ticker: BVS
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Bravura Solutions Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Peter Mann as Director 2
For None Approve Bravura Solutions Limited Employee
Incentive Plan
3
For For Approve Grant of Performance Rights to Tony
Klim
4
For For Approve Grant of Performance Rights to Martin
Deda
5
For For Approve the Increase in Maximum Aggregate
Remuneration of Non-Executive Directors
6
Brickworks Limited
Meeting Date: 11/26/2019 Country: Australia
Meeting Type: Annual Ticker: BKW
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For For
For For Approve Grant of Performance Rights to Lindsay Partridge
3
For For Elect Michael J. Millner as Director 4a
For For Elect Robert J. Webster as Director 4b
For For Elect Malcolm P. Bundey as Director 4c
Against Against Approve Conditional Spill Resolution 5
Charter Hall Long WALE REIT
Meeting Date: 11/26/2019 Country: Australia
Meeting Type: Annual Ticker: CLW
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Charter Hall Long WALE REIT
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Peeyush Gupta as Director For For
Clinigen Group Plc
Meeting Date: 11/26/2019 Country: United Kingdom
Meeting Type: Annual Ticker: CLIN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory Reports
For For
For For Approve Remuneration Report 2
For For Approve Final Dividend 3
For For Elect Alan Boyd as Director 4
For For Elect Nick Keher as Director 5
Against For Re-elect Peter Allen as Director 6
Voter Rationale: Over boarded with multiple chairmanships.
Blended Rationale: Over boarded with multiple chairmanships.
For For Re-elect Shaun Chilton as Director 7
For For Re-elect John Hartup as Director 8
For For Re-elect Ian Nicholson as Director 9
For For Re-elect Anne Hyland as Director 10
For For Reappoint PricewaterhouseCoopers LLP as Auditors
11
For For Authorise Board to Fix Remuneration of Auditors 12
For For Authorise Political Donations and Expenditure 13
For For Authorise Issue of Equity 14
For For Authorise Issue of Equity without Pre-emptive Rights
15
For For Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or
Other Capital Investment
16
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Companhia de Saneamento Basico do Estado de Sao Paulo SABESP
Meeting Date: 11/26/2019 Country: Brazil
Meeting Type: Special Ticker: SBSP3
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Angelo Luiz Moreira Grossi as Fiscal Council Member and Andrea Martins Botaro as
Alternate
For For
For For Ratify Election of Wilson Newton de Mello Neto as Director
2
For For Amend Article 14 3
For For Consolidate Bylaws 4
For For Rectify Remuneration of Company's Management and Fiscal Council Members
Approved at the June 3, 2019, EGM
5
Gillette India Limited
Meeting Date: 11/26/2019 Country: India
Meeting Type: Annual Ticker: 507815
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Confirm Interim Dividend and Declare Final
Dividend
2
For For Reelect Karthik Natarajan as Director 3
For For Elect Anjuly Chib Duggal as Director 4
For For Reelect Bansidhar Sunderlal Mehta as Director 5
For For Reelect Anil Kumar Gupta as Director 6
For For Reelect Gurcharan Das as Director 7
For For Reelect Chittranjan Dua as Director 8
For For Elect Gagan Sawhney as Director and Approve His Appointment and Remuneration as Executive Director (Finance)
9
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
London Stock Exchange Group Plc
Meeting Date: 11/26/2019 Country: United Kingdom
Meeting Type: Special Ticker: LSE
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Acquisition of Refinitiv For For
For For Authorise Issue of Equity in Connection with the Acquisition
2
Momentum Metropolitan Holdings Ltd.
Meeting Date: 11/26/2019 Country: South Africa
Meeting Type: Annual Ticker: MTM
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1.1 Elect Linda de Beer as Director For For
For For Elect Sello Moloko as Director 1.2
For For Elect Sharron McPherson as Director 1.3
For For Elect Lisa Chiume as Director 1.4
For For Elect Kgaugelo Legoabe-Kgomari as Director 1.5
For For Re-elect Vuyisa Nkonyeni as Director 2.1
For For Re-elect Stephen Jurisich as Director 2.2
For For Appoint Ernst & Young Inc. as Auditors of the Company with Cornea de Villiers as the Designated Audit Partner
3
For For Re-elect Frans Truter as Member of the Audit
Committee
4.1
For For Re-elect Fatima Daniels as Member of the Audit
Committee
4.2
For For Elect Linda de Beer as Member of the Audit
Committee
4.3
For For Authorise Ratification of Approved Resolutions 5
For For Approve Remuneration Policy 6
For For Approve Implementation Report 7
For For Authorise Repurchase of Issued Share Capital 8
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Momentum Metropolitan Holdings Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Financial Assistance in Terms of Sections 44 and 45 of the Companies Act
9
For For Approve Remuneration of Non-Executive Directors
10
MONETA Money Bank, a.s.
Meeting Date: 11/26/2019 Country: Czech Republic
Meeting Type: Special Ticker: MONET
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Meeting Procedures For For
For For Elect Meeting Chairman and Other Meeting
Officials
2
For For Approve Interim Financial Statements 4.1
For For Approve Increase in Registered Capital 4.2
For For Approve Share Repurchase Program and
Cancellation of Repurchased Shares
4.3
For For Approve Interim Dividends of CZK 3.30 per
Share
5
For For Amend Articles of Association 6
Murgitroyd Group Plc
Meeting Date: 11/26/2019 Country: United Kingdom
Meeting Type: Special Ticker: MUR
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Matters Relating to the Recommended Cash Acquisition of Murgitroyd Group plc by
Project Petra Bidco Limited
For For
For For Amend Share Option Schemes 2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Murgitroyd Group Plc
Meeting Date: 11/26/2019 Country: United Kingdom
Meeting Type: Court Ticker: MUR
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Scheme of Arrangement For For
PPK Group Limited
Meeting Date: 11/26/2019 Country: Australia
Meeting Type: Annual Ticker: PPK
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Robin Levison as Director 2
For For Ratify Past Issuance of Shares to Sophisticated
Investors
3
Against For Approve the Issuance of Up to 10 Percent of the
Company's Issued Capital
4
Voter Rationale: The company has not provided a specific, compelling reason for seeking the authority; and as the company has not disclosed its expected short-term cash outflows, it cannot be determined whether the company has an immediate need for such additional authority.
Blended Rationale: The company has not provided a specific, compelling reason for seeking the authority; and as the company has not disclosed its expected short-term cash outflows, it cannot be determined whether the company has an immediate need for such additional authority.
For For Appoint Ernst & Young as Auditor of the Company
5
Against None Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
6
For For Adopt New Constitution 7
Against For Approve Grant of Performance Rights to Anthony McDonald
8
Voter Rationale: The grant of performance-linked equity instruments to NEDs is not considered acceptable under Australian investor guidelines as it may impair the NEDs' ability to act in the long term best interests of the company. Australian investors prefer NEDs to acquire shares directly through fee sacrifice or other acquisitions from their own resources.
Blended Rationale: The grant of performance-linked equity instruments to NEDs is not considered acceptable under Australian investor guidelines as it may impair the NEDs' ability to act in the long term best interests of the company. Australian investors prefer NEDs to acquire shares directly through fee sacrifice or other acquisitions from their own resources.
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Regis Resources Limited
Meeting Date: 11/26/2019 Country: Australia
Meeting Type: Annual Ticker: RRL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Elect Steve Scudamore as Director 2
For For Elect Fiona Morgan as Director 3
For For Approve the Regis Resources Limited Executive Incentive Plan
4
For For Approve Grant of Long Term Incentive Performance Rights to Jim Beyer
5
For For Approve Grant of Short Term Incentive Performance Rights to Jim Beyer
6
For None Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
7
ResLoC UK 2007-1 Plc
Meeting Date: 11/26/2019 Country: United Kingdom
Meeting Type: Bondholder Ticker: N/A
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Extraordinary Resolution as per
Meeting Notice
For For
ResLoC UK 2007-1 Plc
Meeting Date: 11/26/2019 Country: United Kingdom
Meeting Type: Bondholder Ticker: N/A
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Extraordinary Resolution as per Meeting Notice
For For
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
SEEK Limited
Meeting Date: 11/26/2019 Country: Australia
Meeting Type: Annual Ticker: SEK
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For Against
Voter Rationale: Bottom Quartile NTA growth over 5 years.
Blended Rationale: Bottom Quartile NTA growth over 5 years.
For For Elect Denise Bradley as Director 3a
For For Elect Leigh Jasper as Director 3b
Against For Approve Grant of Equity Right to Andrew Bassat 4
Voter Rationale: Excessive fixed element of remuneration with lack of performance criteria
Blended Rationale: Excessive fixed element of remuneration with lack of performance criteria
Against For Approve Grant of Wealth Sharing Plan Options and Wealth Sharing Plan Rights to Andrew
Bassat
5
Voter Rationale: "The quantum of the award is excessive given that it is based on discounted fair valuation which increases the number of rights granted."
Blended Rationale: "The quantum of the award is excessive given that it is based on discounted fair valuation which increases the number of rights granted."
Acrow Formwork and Construction Services Limited
Meeting Date: 11/27/2019 Country: Australia
Meeting Type: Annual Ticker: ACF
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For For
For For Elect Peter Lancken as Director 2
For For Elect Joshua May as Director 3
For For Elect David Moffat as Director 4
For For Approve the Issuance of Up to 10 Percent of the
Company's Issued Capital
5
For For Approve Long-Term Incentive Plan 6
For For Adopt New Constitution 7
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Acrow Formwork and Construction Services Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Financial Assistance by Uni-Span Group Pty Ltd and Its Subsidiaries
8
Ascendas Real Estate Investment Trust
Meeting Date: 11/27/2019 Country: Singapore
Meeting Type: Special Ticker: A17U
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Acquisitions of a Portfolio of United States Properties and Two Singapore Properties as Interested Person Transactions
For Against
Voter Rationale: concerns about the accretive value of this deal and the benefits of expanding its geographical exposure at this time
Blended Rationale: concerns about the accretive value of this deal and the benefits of expanding its geographical exposure at this time
Banco do Brasil SA
Meeting Date: 11/27/2019 Country: Brazil
Meeting Type: Special Ticker: BBAS3
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Elect Paulo Antonio Spencer Uebel as Fiscal Council Member
For For
For For Elect Rafael Cavalcanti de Araujo as Fiscal Council Member
1.2
For For Elect Helio Lima Magalhaes as Director 2.1
For For Elect Marcelo Serfaty as Director 2.2
Abstain None In Case Cumulative Voting Is Adopted, Do You Wish to Equally Distribute Your Votes Amongst
the Nominees below?
3
Abstain None Percentage of Votes to Be Assigned - Elect Helio Lima Magalhaes as Director
4.1
Abstain None Percentage of Votes to Be Assigned - Elect Marcelo Serfaty as Director
4.2
For For Amend Articles 5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Bathurst Resources Limited
Meeting Date: 11/27/2019 Country: New Zealand
Meeting Type: Annual Ticker: BRL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Toko Kapea as Director For For
For For Authorize Board to Fix Remuneration of the Auditors
2
For For Approve Issuance of Performance Rights to Richard Tacon
3
For For Approve Issuance of Performance Rights to Russell Middleton
4
Chr. Hansen Holding A/S
Meeting Date: 11/27/2019 Country: Denmark
Meeting Type: Annual Ticker: CHR
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Accept Financial Statements and Statutory
Reports
For For
For For Approve Allocation of Income and Dividends of
DKK 7.07 Per Share
3
For For Approve Remuneration of Directors in the Amount of DKK 1.2 Million for Chair, DKK 800,000 for Vice-Chair and DKK 400,000 for Other Directors; Approve Remuneration for
Committee Work
4
For For Approve Revised Remuneration Guidelines for
Executive Management and Board
5
For For Reelect Dominique Reiniche (Chair) as Director 6a
For For Reelect Jesper Brandgaard as Director 6b.a
For For Reelect Luis Cantarell as Director 6b.b
For For Reelect Heidi Kleinbach-Sauter as Director 6b.c
For For Elect Niels Peder Nielsen as New Director 6b.d
For For Reelect Kristian Villumsen as Director 6b.e
For For Reelect Mark Wilson as Director 6b.f
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Chr. Hansen Holding A/S Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Reelect PricewaterhouseCoopers as Auditor 7
For For Authorize Editorial Changes to Adopted Resolutions in Connection with Registration with
Danish Authorities
8
Daiwa House REIT Investment Corp.
Meeting Date: 11/27/2019 Country: Japan
Meeting Type: Special Ticker: 8984
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Amend Articles to Amend Asset Management
Compensation
For For
For For Elect Executive Director Asada, Toshiharu 2
For For Elect Alternate Executive Director Tsuchida,
Koichi
3
For For Elect Supervisory Director Iwasaki, Tetsuya 4.1
For For Elect Supervisory Director Ishikawa, Hiroshi 4.2
For For Elect Alternate Supervisory Director Kakishima,
Fusae
5
Equatorial Energia SA
Meeting Date: 11/27/2019 Country: Brazil
Meeting Type: Special Ticker: EQTL3
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Elect Eduardo Haiama as Director For For
For For Approve 5-for-1 Stock Split 2
For For Amend Articles to Reflect Changes in Share Capital and Authorized Capital
3
For For Approve Amendment of Regulations of Issuance of Powers of Attorney and Amend Article 22
Accordingly
4
For For Consolidate Bylaws 5
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Equatorial Energia SA Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Authorize Board to Ratify and Execute Approved Resolutions
6
Excelsior Capital Limited
Meeting Date: 11/27/2019 Country: Australia
Meeting Type: Annual Ticker: ECL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2a Elect Danny Herceg as Director For For
For For Elect Michael Copeland as Director 2b
Against For Approve Remuneration Report 3
Voter Rationale: The companies performance has been poor and the power of the Executive Chairman has been exercised at the cost of minority equity holders (for example with EXL providing funds for the Executive Chairman's funds management company to manage on uncommercial terms).
Blended Rationale: The companies performance has been poor and the power of the Executive Chairman has been exercised at the cost of minority equity holders (for example with EXL providing funds for the Executive Chairman's funds management company to manage on uncommercial terms).
Harvey Norman Holdings Limited
Meeting Date: 11/27/2019 Country: Australia
Meeting Type: Annual Ticker: HVN
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For For
For For Elect Kay Lesley Page as Director 3
Against For Elect David Matthew Ackery as Director 4
Voter Rationale: warranted because he is one of five executive directors (including the CEO) on a board that is not majority independent.
Blended Rationale: warranted because he is one of five executive directors (including the CEO) on a board that is not majority independent.
For For Elect Kenneth William Gunderson-Briggs as Director
5
For For Elect Maurice John Craven as Director 6
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Harvey Norman Holdings Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For Against Elect Stephen Mayne as Director 7
Voter Rationale: "Support for the election of Stephen Mayne is warranted despite being a non-board endorsed nominee, on the basis of his contribution to the independence of oversight in decision-making.Mr Mayne also possesses expertise in corporate governance which appears to be much needed on this board, and an ability to contribute an independent eye to board deliberations. The increased level of independence and governance knowledge would act for the benefit of non-associated shareholders at the company with improved accountability and oversight of the management team."
Blended Rationale: "Support for the election of Stephen Mayne is warranted despite being a non-board endorsed nominee, on the basis of his contribution to the independence of oversight in decision-making.Mr Mayne also possesses expertise in corporate governance which appears to be much needed on this board, and an ability to contribute an independent eye to board deliberations. The increased level of independence and governance knowledge would act for the benefit of non-associated shareholders at the company with improved accountability and oversight of the management team."
Against None Approve the Spill Resolution 8
ORIX JREIT Inc.
Meeting Date: 11/27/2019 Country: Japan
Meeting Type: Special Ticker: 8954
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Amend Articles to Change Japanese Era Year to
Western Year
For For
For For Elect Executive Director Ozaki, Teruo 2
For For Elect Alternate Executive Director Hattori,
Takeshi
3
For For Elect Supervisory Director Koike, Toshio 4.1
For For Elect Supervisory Director Hattori, Takeshi 4.2
For For Elect Supervisory Director Kataoka, Ryohei 4.3
Sandfire Resources NL
Meeting Date: 11/27/2019 Country: Australia
Meeting Type: Annual Ticker: SFR
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
For For Elect Paul Hallam as Director 2
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Sandfire Resources NL Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Maree Arnason as Director 3
For For Approve Grant of Rights to Karl M Simich 4
For For Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
5
For For Approve the Change of Company Type from a Public No Liability Company to a Public
Company Limited
6
For For Approve the Change of Company Name to Sandfire Resources Limited
7
For For Adopt New Constitution 8
Sasol Ltd.
Meeting Date: 11/27/2019 Country: South Africa
Meeting Type: Annual Ticker: SOL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Re-elect Trix Kennealy as Director For Against
Voter Rationale: Failings in the Company's internal controls and member of audit committee.
Blended Rationale: Failings in the Company's internal controls and member of audit committee.
For For Re-elect Peter Robertson as Director 1.2
Against For Re-elect Paul Victor as Director 1.3
Voter Rationale: Failings in the Company's internal controls and is CFO
Blended Rationale: Failings in the Company's internal controls and is CFO
For For Elect Sipho Nkosi as Director 2
For For Elect Fleetwood Grobler as Director 3
For For Elect Vuyo Kahla as Director 4
For For Reappoint PricewaterhouseCoopers Inc. as Auditors of the Company
5
Against For Re-elect Colin Beggs as Member of the Audit Committee
6.1
Voter Rationale: All members seeking re-election to the Audit Committee have served on the Committee for at least the past two years
Blended Rationale: All members seeking re-election to the Audit Committee have served on the Committee for at least the past two years
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Sasol Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Re-elect Trix Kennealy as Member of the Audit Committee
6.2
Voter Rationale: All members seeking re-election to the Audit Committee have served on the Committee for at least the past two years
Blended Rationale: All members seeking re-election to the Audit Committee have served on the Committee for at least the past two years
Against For Re-elect Nomgando Matyumza as Member of the Audit Committee
6.3
Voter Rationale: All members seeking re-election to the Audit Committee have served on the Committee for at least the past two years
Blended Rationale: All members seeking re-election to the Audit Committee have served on the Committee for at least the past two years
Against For Re-elect Stephen Westwell as Member of the Audit Committee
6.4
Voter Rationale: All members seeking re-election to the Audit Committee have served on the Committee for at least the past two years
Blended Rationale: All members seeking re-election to the Audit Committee have served on the Committee for at least the past two years
For For Approve Remuneration Policy 7
For For Approve Implementation Report of the
Remuneration Policy
8
For For Amend Memorandum of Incorporation 9
Woolworths Holdings Ltd.
Meeting Date: 11/27/2019 Country: South Africa
Meeting Type: Annual Ticker: WHL
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Re-elect Hubert Brody as Director For For
For For Elect David Kneale as Director 2.1
For For Elect Thembisa Skweyiya as Director 2.2
For For Elect Belinda Earl as Director 2.3
For For Elect Christopher Colfer as Director 2.4
For For Elect Clive Thomson as Director 2.5
For For Re-elect Zarina Bassa as Member of the Audit Committee
3.1
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Woolworths Holdings Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Elect Thembisa Skweyiya as Member of the Audit Committee
3.2
For For Re-elect Andrew Higginson as Member of the Audit Committee
3.3
For For Elect Christopher Colfer as Member of the Audit Committee
3.4
For For Elect Clive Thomson as Member of the Audit Committee
3.5
For For Reappoint Ernst & Young Inc as Auditors of the Company with the Designated Audit Partner
4
For For Amend the Rules of the Performance Share Plan 5
For For Approve Remuneration Policy 6
Against For Approve Remuneration Implementation Report 7
Voter Rationale: Executives paid one off awards during the year.
Blended Rationale: Executives paid one off awards during the year.
For For Authorise Repurchase of Issued Share Capital 8
For For Approve Remuneration of Non-executive Directors
9
Xaar Plc
Meeting Date: 11/27/2019 Country: United Kingdom
Meeting Type: Special Ticker: XAR
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Matters Relating to the Sale of Company's Interest in Xaar 3D Limited
For For
Accent Group Limited
Meeting Date: 11/28/2019 Country: Australia
Meeting Type: Annual Ticker: AX1
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Accent Group Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Approve Remuneration Report For Against
Voter Rationale: "Poor disclosure of the company's remuneration practices, and excessive quantum of fixed remuneration and subsequent STI payments, which do not align with overall shareholder outcomes in FY19."
Blended Rationale: "Poor disclosure of the company's remuneration practices, and excessive quantum of fixed remuneration and subsequent STI payments, which do not align with overall shareholder outcomes in FY19."
For For Elect David Gordon as Director 3a
For For Elect Stephen Goddard as Director 3b
Against For Approve the Increase in Maximum Aggregate Remuneration of Non-Executive Directors
4
Voter Rationale: The fees paid to the chairman are already excessive compared with market cap and industry peers, and the board plans to pass on a 10 percent increase in NED fees if the fee cap is approved.
Blended Rationale: The fees paid to the chairman are already excessive compared with market cap and industry peers, and the board plans to pass on a 10 percent increase in NED fees if the fee cap is approved.
For For Approve Performance Rights Plan 5
For For Approve Grant of Performance Rights to Daniel Agostinelli
6
Banco Santander Mexico SA Institucion de Banca Multiple
Meeting Date: 11/28/2019 Country: Mexico
Meeting Type: Special Ticker: BSMXB
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Ratify Election of Cesar Augusto Montemayor Zambrano as Director to Represent Series F Shareholders to Replace Guillermo Guemez
Garcia
For For
For For Approve Cash Dividends 2
For For Authorize Board to Ratify and Execute Approved
Resolutions
3
Evolution Mining Limited
Meeting Date: 11/28/2019 Country: Australia
Meeting Type: Annual Ticker: EVN
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Evolution Mining Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report None For
For For Elect Colin (Cobb) Johnstone as Director 2
For For Approve Non-Executive Director Equity Plan 3
For For Approve Issuance of Performance Rights to
Jacob (Jake) Klein
4
For For Approve Issuance of Performance Rights to
Lawrence (Lawrie) Conway
5
For For Approve the Increase in Maximum Aggregate
Remuneration of Non-Executive Directors
6
FAST RETAILING CO., LTD.
Meeting Date: 11/28/2019 Country: Japan
Meeting Type: Annual Ticker: 9983
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Amend Articles to Amend Provisions on Number of Statutory Auditors
For For
For For Elect Director Yanai, Tadashi 2.1
For For Elect Director Hambayashi, Toru 2.2
For For Elect Director Hattori, Nobumichi 2.3
For For Elect Director Shintaku, Masaaki 2.4
For For Elect Director Nawa, Takashi 2.5
For For Elect Director Ono, Naotake 2.6
For For Elect Director Okazaki, Takeshi 2.7
For For Elect Director Yanai, Kazumi 2.8
For For Elect Director Yanai, Koji 2.9
For For Appoint Statutory Auditor Mizusawa, Masumi 3
Against For Approve Compensation Ceiling for Directors 4
Blended Rationale: A vote AGAINST this proposal is warranted because:- In spite of the significant size of the requested increase in the aggregate compensation ceiling, accountability and transparency do not accompany the increased board discretion.
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
FirstRand Ltd.
Meeting Date: 11/28/2019 Country: South Africa
Meeting Type: Annual Ticker: FSR
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1.1 Re-elect Tandi Nzimande as Director For For
For For Re-elect Mary Bomela as Director 1.2
For For Re-elect Grant Gelink as Director 1.3
For For Re-elect Faffa Knoetze as Director 1.4
For For Elect Louis von Zeuner as Director 1.5
For For Reappoint Deloitte & Touche as Auditors of the Company
2.1
For For Reappoint PricewaterhouseCoopers Inc as Auditors of the Company
2.2
For For Place Authorised but Unissued Ordinary Shares under Control of Directors
3
For For Authorise Ratification of Approved Resolutions 4
For For Approve Remuneration Policy 1
Against For Approve Remuneration Implementation Report 2
Voter Rationale: Lack of disclosure
Blended Rationale: Lack of disclosure
For For Authorise Repurchase of Issued Share Capital 1
For For Approve Financial Assistance to Directors and Prescribed Officers as Employee Share Scheme
Beneficiaries
2.1
For For Approve Financial Assistance to Related and Inter-related Entities
2.2
For For Approve Remuneration of Non-executive Directors
3
For Against Approve Report on Company's Assessment of its Exposure to Climate-Related Risks by no later
than October 2020
5
Voter Rationale: updated disclosure.
Blended Rationale: updated disclosure.
For For Adopt and Publicly Disclose a Policy on Fossil Fuel Lending by no later than October 2020
6
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Fletcher Building Ltd.
Meeting Date: 11/28/2019 Country: New Zealand
Meeting Type: Annual Ticker: FBU
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Elect Peter Crowley as Director For Against
Voter Rationale: Lack of disclosure after recent engagement with company
Blended Rationale: Lack of disclosure after recent engagement with company
For For Authorize Board to Fix Remuneration of the Auditors
2
For For Adopt New Constitution 3
Intertrust NV
Meeting Date: 11/28/2019 Country: Netherlands
Meeting Type: Special Ticker: INTER
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2a Amend Remuneration Policy For For
For For Approve Performance Share Plan 2b
For For Elect R.M.S. van Wijk to Management Board 3
IOOF Holdings Ltd.
Meeting Date: 11/28/2019 Country: Australia
Meeting Type: Annual Ticker: IFL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2a Elect Allan Griffiths as Director For For
For For Elect Andrew Bloore as Director 2b
For For Elect Michelle Somerville as Director 2c
For For Approve Remuneration Report 3
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
IOOF Holdings Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Grant of Performance Rights to Renato Mota
4
LMS Capital Plc
Meeting Date: 11/28/2019 Country: United Kingdom
Meeting Type: Special Ticker: LMS
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Amend the Investment Management Agreement For For
Naim Holdings Berhad
Meeting Date: 11/28/2019 Country: Malaysia
Meeting Type: Special Ticker: 5073
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Adopt New Constitution For For
Navigator Global Investments Limited
Meeting Date: 11/28/2019 Country: Australia
Meeting Type: Annual Ticker: NGI
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
2 Approve Remuneration Report For For
For For Elect Michael Shepherd as Director 3a
For For Elect Fernando (Andy) Esteban as Director 3b
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Over The Wire Holdings Limited
Meeting Date: 11/28/2019 Country: Australia
Meeting Type: Annual Ticker: OTW
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report None For
For For Elect Susan Forrester as Director 2
Against For Approve the Issuance of Up to 10 Percent of the Company's Issued Capital
3
Voter Rationale: The company has not provided a specific, compelling reason for seeking the authority.
Blended Rationale: The company has not provided a specific, compelling reason for seeking the authority.
Against None Approve the Increase in Non-Executive Directors' Remuneration Pool
4
Shimachu Co., Ltd.
Meeting Date: 11/28/2019 Country: Japan
Meeting Type: Annual Ticker: 8184
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Allocation of Income, with a Final
Dividend of JPY 40
For For
Against For Elect Director Okano, Takaaki 2.1
Blended Rationale: A vote AGAINST this director nominee is warranted because:- Top management is responsible for the company's unfavorable ROE performance.
For For Elect Director Kushida, Shigeyuki 2.2
For For Elect Director Oshima, Koichiro 2.3
For For Elect Director Hosokawa, Tadahiro 2.4
For For Elect Director Orimoto, Kazuya 2.5
For For Elect Director and Audit Committee Member
Tajima, Koji
3.1
For For Elect Director and Audit Committee Member
Kubomura, Yasushi
3.2
For For Elect Director and Audit Committee Member
Imai, Hikari
3.3
For For Elect Director and Audit Committee Member
Nishikawa, Hidehiko
3.4
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Shimachu Co., Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Restricted Stock Plan 4
Target Healthcare REIT Plc
Meeting Date: 11/28/2019 Country: United Kingdom
Meeting Type: Annual Ticker: THRL
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Accept Financial Statements and Statutory
Reports
For For
For For Approve Remuneration Policy 2
For For Approve Remuneration Report 3
For For Approve the Company's Dividend Policy 4
For For Reappoint Ernst & Young LLP as Auditors 5
For For Authorise Board to Fix Remuneration of Auditors 6
For For Re-elect Malcolm Naish as Director 7
For For Re-elect June Andrews as Director 8
For For Re-elect Gordon Coull as Director 9
For For Re-elect Tom Hutchison III as Director 10
For For Authorise Issue of Equity 11
For For Authorise Issue of Equity without Pre-emptive
Rights
12
For For Authorise Market Purchase of Ordinary Shares 13
For For Authorise the Company to Call General Meeting
with Two Weeks' Notice
14
West Holdings Corp.
Meeting Date: 11/28/2019 Country: Japan
Meeting Type: Annual Ticker: 1407
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
West Holdings Corp.
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Allocation of Income, with a Final
Dividend of JPY 45
For For
Against For Elect Director Kikkawa, Takashi 2.1
Blended Rationale: A vote AGAINST this director nominee is warranted because:- Top management bears responsibility for the firm's board composition.
Against For Elect Director Egashira, Eiichiro 2.2
Blended Rationale: A vote AGAINST this director nominee is warranted because:- Top management bears responsibility for the firm's board composition.
For For Elect Director Osako, Takuo 2.3
For For Elect Director Tsushima, Masao 2.4
For For Elect Director Shiiba, Eiji 2.5
For For Elect Director Nakashima, Kazuo 2.6
Assore Ltd.
Meeting Date: 11/29/2019 Country: South Africa
Meeting Type: Annual Ticker: ASR
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Re-elect Ed Southey as Director For For
For For Re-elect Bill Urmson as Director 2
For For Re-elect Ed Southey as Chairman of the Audit and Risk Committee
3
For For Re-elect Bill Urmson as Member of the Audit and Risk Committee
4
For For Re-elect Sydney Mhlarhi as Member of the Audit and Risk Committee
5
Against For Approve Remuneration Policy 1
Voter Rationale: Lack of disclosure
Blended Rationale: Lack of disclosure
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Assore Ltd. Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Approve Implementation Plan of the Remuneration Policy
2
Voter Rationale: Lack of disclosure
Blended Rationale: Lack of disclosure
For For Approve Financial Assistance in Terms of Section 45 of the Companies Act
1
Aurelia Metals Limited
Meeting Date: 11/29/2019 Country: Australia
Meeting Type: Annual Ticker: AMI
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report None For
For For Elect Lawrence Conway as Director 2
For For Elect Paul Harris as Director 3
For For Approve Performance Rights Plan 4
For For Approve Issuance of Performance Rights to Daniel Clifford
5
For For Approve Renewal of Proportional Takeover
Provisions 6
Byron Energy Limited
Meeting Date: 11/29/2019 Country: Australia
Meeting Type: Annual Ticker: BYE
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Remuneration Report For Against
Voter Rationale: Unacceptable vesting period. The vesting period of the incentive securities granted by the company is not in line with local market standards, which recommend substantial vesting only after at least three years
Blended Rationale: Unacceptable vesting period. The vesting period of the incentive securities granted by the company is not in line with local market standards, which recommend substantial vesting only after at least three years
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Byron Energy Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
Against For Elect Prent Kallenberger as Director 2
Voter Rationale: Multiple executives on a non-majority independent board
Blended Rationale: Multiple executives on a non-majority independent board
Against For Elect William Sack as Director 3
Voter Rationale: Multiple executives on a non-majority independent board
Blended Rationale: Multiple executives on a non-majority independent board
Against For Approve the Issuance of Up to 10 Percent of the
Company's Issued Capital
4
Voter Rationale: The company has not provided a specific, compelling reason for seeking the authority
Blended Rationale: The company has not provided a specific, compelling reason for seeking the authority
For For Ratify Past Issuance of Options to Herbert
Perrine Erwin III and Kim Carrier
5
Against For Approve Director Loan to Maynard Smith 6
Voter Rationale: The loan is being offered as limited recourse and gives the borrower limited liability for the repayment of the loan.
Blended Rationale: The loan is being offered as limited recourse and gives the borrower limited liability for the repayment of the loan.
Against For Approve Director Loan to Prent Kallenberger 7
Voter Rationale: The loan is being offered as limited recourse and gives the borrower limited liability for the repayment of the loan.
Blended Rationale: The loan is being offered as limited recourse and gives the borrower limited liability for the repayment of the loan.
Against For Approve Director Loan to William Sack 8
Voter Rationale: The loan is being offered as limited recourse and gives the borrower limited liability for the repayment of the loan.
Blended Rationale: The loan is being offered as limited recourse and gives the borrower limited liability for the repayment of the loan.
Against For Approve Director Loan to Senior Managers and Consultants
9
Voter Rationale: The loan is being offered as limited recourse and gives the borrower limited liability for the repayment of the loan.
Blended Rationale: The loan is being offered as limited recourse and gives the borrower limited liability for the repayment of the loan.
China Travel International Investment Hong Kong Limited
Meeting Date: 11/29/2019 Country: Hong Kong
Meeting Type: Special Ticker: 308
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
China Travel International Investment Hong Kong Limited
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve the 2019 Financial Services Supplemental Agreement, Revised Deposit Caps and Related Transactions
For Against
Blended Rationale: A vote AGAINST this proposal is warranted because the proposed related-party transactions is a financial service agreement with the group finance company, which may expose the company to unnecessary risks.
For For Elect Song Dawei as Director 2
Corporacion Moctezuma SAB de CV
Meeting Date: 11/29/2019 Country: Mexico
Meeting Type: Special Ticker: CMOCTEZ
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Cash Dividends of MXN 2.20 Per Share For For
For For Appoint Legal Representatives 2
Dongfeng Motor Group Company Limited
Meeting Date: 11/29/2019 Country: China
Meeting Type: Special Ticker: 489
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Approve Resignation of Wen Shuzhong as
Supervisor
For For
For For Elect He Wei as Supervisor 2
For For Approve Resignation of Cao Xinghe as Director 3
For For Elect You Zheng as Director 4
For For Elect Cheng Daoran as Director 5
For For Approve Remuneration of Candidates for
Directors and Supervisor
6
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Galliford Try Plc
Meeting Date: 11/29/2019 Country: United Kingdom
Meeting Type: Special Ticker: GFRD
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Matters Relating to the Scheme of Reconstruction
For Against
Voter Rationale: Against deal.
Blended Rationale: Against deal.
Against For Approve Disposal by the Company of Galliford Try Homes Limited and Galliford Try
Partnerships Limited
2
Voter Rationale: Against deal.
Blended Rationale: Against deal.
For For Approve New Long Term Incentive Plan 3
Galliford Try Plc
Meeting Date: 11/29/2019 Country: United Kingdom
Meeting Type: Court Ticker: GFRD
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Scheme of Arrangement For Against
Voter Rationale: Against deal.
Blended Rationale: Against deal.
HCL Technologies Limited
Meeting Date: 11/29/2019 Country: India
Meeting Type: Special Ticker: 532281
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
1 Increase Authorized Share Capital and Amend Memorandum of Association
For For
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
HCL Technologies Limited Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
For For Approve Issuance of Bonus Shares 2
Perseus Mining Limited
Meeting Date: 11/29/2019 Country: Australia
Meeting Type: Annual Ticker: PRU
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve Remuneration Report For For
Against For Elect Sean Harvey as Director 2
Voter Rationale: Overboarding concerns.
Blended Rationale: Overboarding concerns.
For For Elect Sally-Anne Layman as Director 3
For For Elect Daniel Lougher as Director 4
For For Elect David Ransom as Director 5
For For Approve Issuance of Performance Rights to
Jeffrey Quartermaine
6
Premier Investments Ltd.
Meeting Date: 11/29/2019 Country: Australia
Meeting Type: Annual Ticker: PMV
Proposal
Number
Proposal Text
Mgmt Rec
Vote
Instruction
2 Approve Remuneration Report For Against
Voter Rationale: Excessive remuneration
Blended Rationale: Excessive remuneration
For For Elect David Crean as Director 3a
For For Elect Terrence McCartney as Director 3b
For For Elect Timothy Antonie as Director 3c
Vote Summary Report
Date range covered: 11/01/2019 to 11/30/2019
Sinopec Kantons Holdings Limited
Meeting Date: 11/29/2019 Country: Bermuda
Meeting Type: Special Ticker: 934
Proposal Number
Proposal Text
Mgmt Rec
Vote Instruction
1 Approve New Crude Oil Jetty and Storage Services Framework Master Agreement,
Proposed Annual Caps and Related Transactions
For For
Against For Approve New Sinopec Finance Financial Services Framework Master Agreement, Proposed Annual
Caps and Related Transactions
2
Voter Rationale: proposed related-party transactions may expose the company to unnecessary risks
Blended Rationale: proposed related-party transactions may expose the company to unnecessary risks
Against For Approve New Century Bright Financial Services Framework Master Agreement, Proposed Annual
Caps and Related Transactions
3
Voter Rationale: proposed related-party transactions may expose the company to unnecessary risks
Blended Rationale: proposed related-party transactions may expose the company to unnecessary risks
For For Approve New Natural Gas Transmission Services Framework Master Agreement, Proposed Annual
Caps and Related Transactions
4
For For Approve New Comprehensive Outsourcing Framework Master Agreement, Proposed Annual
Caps and Related Transactions
5
Against For Approve New Yu Ji Pipeline Financial Services Framework Master Agreement, Proposed Annual
Caps and Related Transactions
6
Voter Rationale: proposed related-party transactions may expose the company to unnecessary risks
Blended Rationale: proposed related-party transactions may expose the company to unnecessary risks
For For Approve New Yu Ji Compression Project Framework Master Agreement and Related
Transactions
7