We engaged with the company in March 2019 to communicate our expectation for the board to make sure that executives and bankers act in the long-term interest of the company and that we were kept informed through this process.
We engaged again in June 2019 to discuss proposed changes to the remuneration policy. We were supportive of the changes but requested further details around the use of targets and measures.
We further engaged in September 2019 to prevent further destruction of value and to encourage future share price recuperation.
Our engagement included discussion with executive management, directors, Chairman, assessment if change could be achieved without an Extraordinary General Meeting (EGM), letter to the Chairman setting out our board skill and diversity requirements and our preference regarding the Chairman role. The new Board is now in place with a Chairman that has extensive banking experience.