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  • Reo@ Voting Report

    The SEI Emerging Markets Equity Fund

    VOTING RECORDS

    FROM:01/10/2018 TO: 31/12/2018

  • The SEI Emerging Markets Equity Fund All Votes Report

    Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018

    African Rainbow Minerals Ltd.

    Meeting Date: 12/07/2018 Country: South Africa

    Meeting Type: Annual Ticker: ARI

    Primary ISIN: ZAE000054045 Primary SEDOL: 6041122

    Proposal

    Number

    Proponent

    Proposal Text

    Mgmt Rec

    Vote

    Instruction

    Mgmt Against For Re-elect Dr Manana Bakane-Tuoane as Director 1

    Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.

    Mgmt For For Re-elect Anton Botha as Director 2

    Mgmt For For Re-elect Tom Boardman as Director 3

    Mgmt Against For Re-elect Mangisi Gule as Director 4

    Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.

    Mgmt Against For Re-elect Alex Maditsi as Director 5

    Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.

    Mgmt For For Elect Abigail Mukhuba as Director 6

    Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.

    Mgmt For For Reappoint Ernst & Young Inc as Auditors of the Company with L Tomlinson as the Designated Auditor

    7

    Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.

    Mgmt For For Re-elect Tom Boardman as Chairman of the Audit and Risk Committee

    8.1

    Mgmt Against For Re-elect Dr Manana Bakane-Tuoane as Member of the Audit and Risk Committee

    8.2

    Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.

    Mgmt For For Re-elect Anton Botha as Member of the Audit and Risk Committee

    8.3

    Mgmt Against For Re-elect Alex Maditsi as Member of the Audit and Risk Committee

    8.4

    Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.

    Mgmt For For Re-elect Kobus Moller as Member of the Audit and Risk Committee

    8.5

    Page 1 of 56

  • The SEI Emerging Markets Equity Fund All Votes Report

    Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018

    African Rainbow Minerals Ltd. Proposal

    Number

    Proponent

    Proposal Text

    Mgmt Rec

    Vote

    Instruction

    Mgmt Against For Re-elect Dr Rejoice Simelane as Member of the

    Audit and Risk Committee 8.6

    Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.

    Mgmt For For Approve Conditional Share Plan 9

    Mgmt For For Approve Remuneration Policy 10

    Mgmt Against For Approve Remuneration Implementation Report 11

    Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.

    Mgmt For For Place Authorised but Unissued Shares under Control of Directors

    12

    Mgmt For For Authorise Board to Issue Shares for Cash 13

    Mgmt For For Approve the Annual Retainer Fees for Non-executive Directors

    14.1

    Mgmt For For Approve the Fees for Attending Board Meetings 14.2

    Mgmt For For Approve the Committee Attendance Fees for Non-executive Directors

    15

    Mgmt Against For Approve Financial Assistance in Terms of Section 44 of the Companies Act

    16

    Voter Rationale: Shareholder funds should not be used to grant financial assistance to directors, officers or related persons without a clearly disclosed and fully justified explanation.

    Mgmt For For Approve Financial Assistance in Terms of Section 45 of the Companies Act

    17

    Mgmt For For Authorise Issue of Shares in Connection with the Conditional Share Plan

    18

    Mgmt For For Authorise Repurchase of Issued Share Capital 19

    Agricultural Bank of China

    Meeting Date: 11/12/2018 Country: China

    Meeting Type: Special Ticker: 1288

    Primary ISIN: CNE100000Q43 Primary SEDOL: B60LZR6

    Proposal

    Number

    Proponent

    Proposal Text

    Mgmt Rec

    Vote

    Instruction

    EGM BALLOT FOR HOLDERS OF H SHARES Mgmt

    Mgmt For For Elect Wang Jingdong as Supervisor 1

    Page 2 of 56

  • The SEI Emerging Markets Equity Fund All Votes Report

    Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018

    Agricultural Bank of China Proposal

    Number

    Proponent

    Proposal Text

    Mgmt Rec

    Vote

    Instruction

    Mgmt For For Elect Li Wang as Supervisor 2

    Mgmt For For Elect Zhang Jie as Supervisor 3

    Mgmt For For Elect Liu Hongxia as Supervisor 4

    Mgmt For For Approve Final Remuneration Plan of Directors of

    the Bank for 2017 5

    Mgmt For For Approve Final Remuneration Plan of Supervisors

    of the Bank for 2017 6

    Mgmt For For Approve the 2019-2021 Capital Planning of the

    Bank 7

    Mgmt For For Approve the Issuance Plan of Eligible Tier-2

    Capital Instruments of the Bank 8

    Air China Ltd.

    Meeting Date: 10/19/2018 Country: China

    Meeting Type: Special Ticker: 753

    Primary ISIN: CNE1000001S0 Primary SEDOL: B04KNF1

    Proposal Number

    Proponent

    Proposal Text

    Mgmt Rec

    Vote Instruction

    EGM BALLOT FOR HOLDERS OF H SHARES Mgmt

    Mgmt For For Approve Disposal Agreement and Related Transactions

    1

    Mgmt For For Amend Articles of Association 2

    Air China Ltd.

    Meeting Date: 12/18/2018 Country: China

    Meeting Type: Special Ticker: 753

    Primary ISIN: CNE1000001S0 Primary SEDOL: B04KNF1

    Proposal

    Number

    Proponent

    Proposal Text

    Mgmt Rec

    Vote

    Instruction

    EGM BALLOT FOR HOLDERS OF H SHARES Mgmt

    Page 3 of 56

  • The SEI Emerging Markets Equity Fund All Votes Report

    Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018

    Air China Ltd. Proposal

    Number

    Proponent

    Proposal Text

    Mgmt Rec

    Vote

    Instruction

    Mgmt RESOLUTIONS IN RELATION TO THE CONTINUING CONNECTED TRANSACTION AGREEMENTS, THE TRANSACTIONS CONTEMPLATED THEREUNDER AND THEIR

    RESPECTIVE ANNUAL CAPS

    Mgmt For For Approve the Government Charter Flight Service

    Framework Agreement 1.1

    Mgmt For For Approve the Sales Agency Services Framework

    Agreement 1.2

    Mgmt For For Approve the Comprehensive Services

    Framework Agreement 1.3

    Mgmt For For Approve the Properties Leasing Framework

    Agreement 1.4

    Mgmt For For Approve the Media Services Framework

    Agreement 1.5

    Mgmt For For Approve the Construction Project Management

    Framework Agreement 1.6

    A-Living Services Co., Ltd.

    Meeting Date: 11/05/2018 Country: China

    Meeting Type: Special Ticker: 3319

    Primary ISIN: CNE100002RY5 Primary SEDOL: BFWK4M2

    Proposal Number

    Proponent

    Proposal Text

    Mgmt Rec

    Vote Instruction

    1 Approve Supplemental Agreement, Revised Annual Caps and Related Transactions

    Mgmt For For

    Mgmt For For Amend Articles of Association 2

    Angang Steel Co., Ltd.

    Meeting Date: 12/18/2018 Country: China

    Meeting Type: Special Ticker: 347

    Primary ISIN: CNE1000001V4 Primary SEDOL: 6015644

    Proposal

    Number

    Proponent

    Proposal Text

    Mgmt Rec

    Vote

    Instruction

    EGM BALLOT FOR HOLDERS OF H SHARES Mgmt

    Page 4 of 56

  • The SEI Emerging Markets Equity Fund All Votes Report

    Vote Summary Report Date range covered: 10/01/2018 to 12/31/2018

    Angang Steel Co., Ltd. Proposal

    Number

    Proponent

    Proposal Text

    Mgmt Rec

    Vote

    Instruction

    Mgmt Against For Approve Supply of Materials and Services Agreement, Proposed Annual Monetary C

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