Prosus | To authorise the board of directors to resolve that the company acquires shares in its own capital

Status
95.42% votes in favour
AGM date
Previous AGM date
Proposal number
14
Resolution details
Company ticker
PRX
Lead filer
Momentum Metropolitan Life Ltd
Resolution ask
Other ask
ESG theme
  • Governance
Type of vote
Director vote
Filer type
Shareholder
Company sector
Financials
Company HQ country
Netherlands
Supporting materials
Supporting statement
Prosus proposed to repurchase their shares, at a 20% limit. We voted not in favour as Naspers Ltd is the controlling stakeholder, with a 41.4% shareholding as stated on page 205 of the Integrated annual report. A controlling shareholder brings potential to compromise minority shareholder rights by further entrenching control.

How other organisations have declared their voting intentions

Organisation nameDeclared voting intentionsRationale
Momentum Metropolitan Life LtdAgainstProsus has a controlling shareholder, Naspers Ltd. Therefore there is potential to dilute the existing minority shareholders

DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.

Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.

Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.