Last checked at 28 Apr 2022 16:08
Glencore plc
Baar, Switzerland
28 April 2022
Results of 2022 AGM
Glencore announces the results of the poll of the resolutions of the Annual General Meeting held today, 28 April 2022. Resolutions 2, 16, 17 and 18 were proposed as special resolutions and all other resolutions were proposed as ordinary resolutions. All resolutions were carried.
RESOLUTIONS | VOTESFOR | % | VOTESAGAINST | % | VOTESTOTAL | % of ISC VOTED* | VOTESWITHHELD |
1. To receive the Company's Accounts the reports of the Directors and auditors for the year ended 31 December 2021 | 10,146,134,663 | 99.28 | 73,987,106 | 0.72 | 10,220,121,769 | 77.65 | 15,138,778 |
2. To approve the Company's capital contribution reserves be reduced by US$3.4bn and be repaid to shareholders | 10,243,624,761 | 99.99 | 822,027 | 0.01 | 10,244,446,788 | 77.84 | 1,885,126 |
3. To re-elect Kalidas Madhavpeddi as a Director | 9,143,353,406 | 89.30 | 1,095,785,455 | 10.70 | 10,239,138,861 | 77.80 | 7,193,053 |
4. To re-elect Peter Coates as a Director | 9,789,530,013 | 96.18 | 388,631,549 | 3.82 | 10,178,161,562 | 77.33 | 68,157,349 |
5. To re-elect Martin Gilbert as a Director | 9,563,934,786 | 93.38 | 677,892,412 | 6.62 | 10,241,827,198 | 77.82 | 4,504,713 |
6. To re-elect Gill Marcus as a Director | 9,936,943,810 | 97.00 | 307,498,751 | 3.00 | 10,244,442,561 | 77.84 | 1,889,350 |
7. To re-elect Patrice Merrin as a Director | 9,946,311,300 | 97.09 | 298,130,561 | 2.91 | 10,244,441,861 | 77.84 | 1,890,050 |
8. To re-elect Cynthia Carroll as a Director | 9,477,816,424 | 92.52 | 766,628,122 | 7.48 | 10,244,444,546 | 77.84 | 1,888,085 |
9. To elect Gary Nagle as a Director | 10,122,080,650 | 98.81 | 122,357,564 | 1.19 | 10,244,438,214 | 77.84 | 1,893,300 |
10. To elect David Wormsley as a Director | 10,110,616,447 | 98.69 | 133,837,346 | 1.31 | 10,244,453,793 | 77.84 | 1,878,121 |
11. To reappoint Deloitte LLP as auditors | 9,898,006,158 | 96.62 | 346,350,904 | 3.38 | 10,244,357,062 | 77.84 | 1,974,762 |
12. To authorise the audit committee to fix the remuneration of the auditors | 10,188,283,859 | 99.45 | 56,143,866 | 0.55 | 10,244,427,725 | 77.84 | 1,904,190 |
13. To approve the Company's 2021 Climate Progress Report | 7,744,347,077 | 76.28 | 2,408,000,826 | 23.72 | 10,152,347,903 | 77.14 | 93,984,011 |
14. To approve the Directors' Remuneration Report as set out in the 2021 Annual Report | 9,375,360,448 | 93.53 | 648,848,101 | 6.47 | 10,024,208,549 | 76.16 | 222,123,365 |
15. To renew the authority pursuant to Article 10.2 of the Company's Articles | 9,447,365,741 | 92.22 | 797,059,535 | 7.78 | 10,244,425,276 | 77.84 | 1,906,818 |
16. To the authority conferred to Directors pursuant to Article 10.3 to allot equity securities | 9,534,086,256 | 93.07 | 710,351,736 | 6.93 | 10,244,437,992 | 77.84 | 1,893,921 |
17. To empower the Directors pursuant to Article 10.3 to allot further equity securities | 9,628,310,866 | 93.99 | 616,129,538 | 6.01
| 10,244,440,404 | 77.84 | 1,891,510 |
18. To make market purchases of ordinary shares | 9,932,221,639 | 96.98 | 308,917,111 | 3.02 | 10,241,138,750 | 77.81 | 5,193,164 |
\* Total voting rights of the shares in issue, excluding 1,424,723,010 shares held in treasury.
We note that Resolution 13, on approving our Climate Progress Report, was supported by the majority of shareholders. However, we recognise that some shareholders (23.72%) chose not to support this resolution.
We will continue to engage with shareholders on our Climate Transition Action Plan so as to ensure their views are fully understood. We will publish an update on this engagement, in accordance with the UK Corporate Governance Code, within six months of the 2022 AGM.
For further information please contact:
Investors | |||
Martin Fewings | t: +41 41 709 28 80 | m: +41 79 737 56 42 | martin.fewings@glencore.com |
Media | |||
Charles Watenphul
| t: +41 41 709 24 62 | m: +41 79 904 33 20 | charles.watenphul@glencore.com |
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Company Secretarial |
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John Burton | t: +41 41 709 26 19 | m: +41 79 944 54 34 | john.burton@glencore.com |
Nicola Leigh | t: +41 41 709 27 55 | m: +41 79 735 39 16 | nicola.leigh@glencore.com |
Lionel Mateo | t: +41 41 709 28 47 | m: +41 79 152 09 05 | lionel.mateo@glencore.com |
www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly - sourced commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that enable decarbonisation while meeting the energy needs of today.
With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore's industrial activities are supported by a global network of more than 30 marketing offices. Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 135,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.
Glencore recognises our responsibility to contribute to the global effort to achieve the goals of the Paris Agreement. Our ambition is to be a net zero total emissions company by 2050. In August 2021 we increased our medium-term emission reduction target to a 50% reduction by 2035 and introduced a new short-term target of a 15% reduction by 2026.
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DisclaimerThe companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, "Glencore", "Glencore group" and "Group" are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words "we", "us" and "our" are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.