Zaandam, the Netherlands - Ahold today published the agenda for its Annual General Meeting of Shareholders (AGM) to be held on April 19, 2016.
In addition, the Supervisory Board and the Management Board of Ahold have withdrawn items 5 and 8 from the agenda for Ahold's Extraordinary General Meeting of Shareholders (EGM) to be held on March 14, 2016.
Agenda item 5 for the EGM provided a proposal for amending and extending the existing option agreement with Stichting Ahold Continuïteit (SAC). The decision to withdraw this item from the EGM agenda follows feedback from investors that there is no direct relation to the merger. There is also no pressing need to have this amendment implemented on short notice as the current SAC option agreement continues through 2018.
Agenda item 8 for the EGM proposed a remuneration policy for the Ahold Delhaize Management Board upon completion of the intended merger. This proposal included a one-time retention and recognition incentive award that the members of the Management Board would be eligible to earn in stock if they meet performance targets related to the implementation of the merger. However, the Supervisory Board of Ahold and the Board of Directors of Delhaize Group did not feel that this element of the remuneration proposal had the same broad base of support that investors and other stakeholders have expressed for the merger overall. As a result, it will not be considered at the upcoming EGM, and Ahold will instead submit the remuneration policy without this award for consideration at its AGM on April 19.
The agendas and other documents for the Ahold EGM and the Ahold AGM are available at www.ahold.com.
