Thungela Resources Ltd | Non-binding advisory vote: Approval of the remuneration policy

Status
AGM passed
AGM date
Previous AGM date
Proposal number
5
Resolution details
Resolution ask
Adopt or amend a policy
ESG theme
  • Environment
  • Governance
ESG sub-theme
  • Climate adaptation
  • Climate change
  • Remuneration or pay
Type of vote
Shareholder proposal
Filer type
Shareholder
Company HQ country
South Africa
Supporting materials
  • Thungela Notice of AGM 2024_web (003).pdf Download
Resolved clause
RESOLVED that the Company’s remuneration policy be and is hereby approved by way of a non-binding advisory vote, as recommended by the King IV Report on Corporate GovernanceTM for South Africa, 2016* (King IV).
Supporting statement
The policy includes discretionary elements that are not aligned with our remuneration principles, which emphasise transparency and performance-based structures. Additionally, we advocate for the inclusion of clearly disclosed, measurable social KPIs, specifically linked to the company’s climate decarbonization strategy. These KPIs should be embedded within the policy with defined thresholds, targets, and stretch performance levels to ensure accountability and alignment with long-term sustainability objectives.

How other organisations have declared their voting intentions

Organisation nameDeclared voting intentionsRationale
Momentum Metropolitan Life LtdAgainstThe policy includes discretionary elements that are not aligned with our remuneration principles, which emphasise transparency and performance-based structures. Additionally, we advocate for the inclusion of clearly disclosed, measurable social KPIs, specifically linked to the company’s climate decarbonization strategy. These KPIs should be embedded within the policy with defined thresholds, targets, and stretch performance levels to ensure accountability and alignment with long-term sustainability objectives.

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