The Astral Foods Ltd 2019 AGM

At Proxy View we resolved to vote against the executive compensation policy and report of Astral Foods at its upcoming AGM on the 7th February.

The reason is that no details, other than the definitions of the EVA Bonus scheme, are provided to shareholders. EVA is a complicated methodology followed by Astral Foods, who is one of only a few issuers using this as a basis to determine short term benefits.

The team at Proxy View considers the fact that the company utilises the services of 2 separate consultants to firstly determine the STI benefits, and then to verify the details, to be indicative of the complexities involved. 

Shareholders are unable to determine for themselves how the EVA Bonus scheme benefits have been determined.