SES has released the results of its Annual General Meeting (AGM) held on April 3rd. All of the motions were carried, but there were some notable objections which while not affecting the end result proved that not all of the proposed motions were 100 per cent supported.

For example, Agenda item 10 (“Determination of the number of directors”) suffered a 7.22 per cent ‘against’ vote. Minority shareholder Appaloosa is known to hold a 7 per cent stake in SES, and has been a critic of the current SES management.

Another motion, Item 13 (Re-election of Peter van Bommel for a three-year term) saw a 10.05 per cent negative vote.

Other specific motions in favour of specific directors saw negative votes as high as 12.99 per cent (for Françoise Thoma).

Appaloosa’s own motion proposing a capital return to shareholders, saw 10.6 per cent in favour, but 89.4 per cent against.

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Tags: Appaloosa, SES