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The Proxy Spanish, Corporance, has put the magnifying glass, the finger and a negative voting proposal to three of the items on the agenda of the Naturgy shareholders' meeting to be held this week. The adviser is opposed to the remuneration policy for directors, rejects "the high" remuneration of the chairman and CEO Francisco Reynés - 4.5 million in 2020 - and also questions the proposal of 1.44 euros per share as a dividend in view of the 347 million losses recorded in the year. ECGS does not value the partial takeover bid launched by the Australian fund IFM for 22.8% of Naturgy. The transaction is not included in the agenda of the meeting.

Corporance - Voting Advisors

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Corporance Asesores de Voto

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