Provide an overview of how you ensure that your agreed-upon voting policy is adhered to, giving details of your approach when exceptions to the policy are made.
For the executing of its voting rights, PMT makes use of the services of Institutional Shareholder Services (ISS). ISS gives a voting advice for each voting item that is placed on an agenda of a general meeting on the basis of the customized voting policy. Issues where our policy guidelines mention a case-by-case approach are implemented in our custom policy in line with the ISS recommendations. Note that PMT can choose not to follow this voting advice and is able to vote differently. In cooperation with Eumedion, MN as PMT's fiduciairy manager attends and votes at several general meetings per year. In all other cases votes are submitted electronically and reported on the website of PMT.
PMT has adopted a custom voting policy which deviates from the standard ISS-policy. ISS also votes automatically, except in the case of companies with whom we have an engagement program, or when an agenda contains specific items that we would like to review on beforehand. We review the recommendations and votes on a regular basis.
For more information:
- Our voting policy - https://www.bpmt.nl/client/bpmt/upload/downloads/VB0332_Stembeleid_PMT_2020.pdf
- Our voting policy on remuneration - https://www.bpmt.nl/client/bpmt/upload/downloads/Beloningsbeleid_VB0331_Remuneration%20Policy%20PMT.PDF