ECGS supports Phitrust Active Investors new engagement campaign

Within a Press release disclosed in July, the active fund Phitrust Active Investors presented the themes of its new engagement campaign for 2014-2015. Two subjects will be brought for shareholders' engagement, the first one dealing with the new implementation of double voting rights in France within the framework of the "Loi Florange" allocating automatic double voting rights for holders of registered shares. Like Phitrust, ECGS considers that the law undermines the rights of minority shareholders and the principle of "one vote - one share".

The second theme proposed by Phitrust to Investors will be focused on introducing effective claw-back clauses mechanisms for executive directors in the French Banking sector. This proposal comes as a result of the recent increase in fines and legal procedures under way against banks in many countries, actually punishing shareholders. 

We encourage you to read the full press release by Phitrust Active Investors

London, August 2014