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Sycomore Asset Management

PRI reporting framework 2017

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You are in Direct - Listed Equity Active Ownership » (Proxy) voting and shareholder resolutions » Outputs and outcomes

Outputs and outcomes

LEA 23. Percentage of (proxy) votes cast

23.1. For listed equities where you and/or your service provider have the mandate to issue (proxy) voting instructions, indicate the percentage of votes cast during the reporting year.

Votes cast (to the nearest 1%)

95 %

Specify the basis on which this percentage is calculated

23.2. Explain your reason(s) for not voting certain holdings

23.3. Additional information. [Optional]


LEA 24. Proportion of ballot items that were for/against/abstentions

24.1. Indicate if you track the voting instructions that you and/or your service provider on your behalf have issued.

24.2. Of the voting instructions that you and/or third parties on your behalf issued, indicate the proportion of ballot items that were:

Voting instructions
Breakdown as percentage of votes cast
For (supporting) management recommendations
73 %
Against (opposing) management recommendations
27 %
Abstentions
0 %
100%

24.3. Describe the actions you take after voting against management recommendations.

          For companies in which we have a significant holding or companies for which we participate in the pre-AGM consultation, we communicate our vote intentions against management recommendations and explain the rationales ahead of the meeting.
        

24.4. Additional information. [Optional]


LEA 25. Shareholder resolutions

New selection options have been added to this indicator. Please review your prefilled responses carefully.

25.1. Indicate if your organisation directly or via a service provider filed or co-filed any ESG shareholder resolutions during the reporting year.

25.6. Additional information. [Optional]


LEA 26. Examples of (proxy) voting activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

26.1. Provide examples of the (proxy) voting activities that your organisation and/or service provider carried out during the reporting year.

Topic or ESG issue
          Board gender diversity
        
Decision made by
Objectives

Encourage companies to increase board gender diversity and engage dialogue on this issue. 

Scope and Process

The same principe was applied to all AGMs: for all companies with less than 30% women on board, our policy is to vote against new male directors or against the Chairperson/the members of the nomination committee standing for reelection. We applied the same policy with a 40% threshold in France, considering that it was to become a legal obligation in 2017.

Outcomes

This voting policy trigerred a number of exchanges on this issue with companies as we explained the rationale. This was an opportunity for us to draw companies' attention to board gender diversity, understand the challenges that some companies are facing in increasing female representation at board level and explain why it matters to us as shareholders. 

26.2. Additional information. [Optional]


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