Last checked at 26 May 2023 15:18
Glencore plc
Baar, Switzerland
26 May 2023
Results of 2023 AGM
Glencore announces the results of the poll of the resolutions of the Annual General Meeting held today, 26 May 2023. Resolutions 2, 16, 17 and 18 were proposed as special resolutions and all other resolutions were proposed as ordinary resolutions. Resolutions 1 to 18 were carried. Resolution 19 was rejected.
RESOLUTIONS | VOTES FOR | % | VOTES AGAINST | % | VOTES TOTAL | % of ISC VOTED* | VOTES WITHHELD |
1. To receive the Company's Accounts the reports of the Directors and auditors for the year ended 31 December 2022 | 9,459,391,048 | 99.30 | 66,463,098 | 0.70 | 9,525,854,146 | 76.28 | 4,367,518 |
2. To approve the Company's capital contribution reserves be reduced by US$5.6bn and be repaid to shareholders | 9,528,315,631 | 100.00 | 35,030 | 0.00 | 9,528,350,661 | 76.30 | 1,926,002 |
3. To re-elect Kalidas Madhavpeddi as a Director | 8,438,419,570 | 88.81 | 1,063,194,283 | 11.19 | 9,501,613,853 | 76.08 | 28,662,810 |
4. To re-elect Gary Nagle as a Director | 9,473,988,509 | 99.43 | 54,285,298 | 0.57 | 9,528,273,807 | 76.30 | 2,002,857 |
5. To re-elect Peter Coates as a Director | 9,011,168,014 | 94.57 | 517,094,657 | 5.43 | 9,528,262,671 | 76.29 | 2,013,993 |
6. To re-elect Martin Gilbert as a Director | 9,090,430,340 | 95.40 | 437,861,935 | 4.60 | 9,528,292,275 | 76.30 | 1,984,388 |
7. To re-elect Gill Marcus as a Director | 9,288,428,121 | 97.48 | 239,869,548 | 2.52 | 9,528,297,669 | 76.30 | 1,978,994 |
8. To re-elect Cynthia Carroll as a Director | 9,096,221,252 | 95.47 | 431,987,197 | 4.53 | 9,528,208,449 | 76.29 | 2,068,215 |
9. To re-elect David Wormsley as a Director | 9,321,734,456 | 97.83 | 206,569,221 | 2.17 | 9,528,303,677 | 76.30 | 1,972,986 |
10. To elect Liz Hewitt as a Director | 9,507,251,748 | 99.78 | 21,064,332 | 0.22 | 9,528,316,080 | 76.30 | 1,960,583 |
11. To reappoint Deloitte LLP as auditors | 9,148,193,638 | 96.01 | 379,963,748 | 3.99 | 9,528,157,386 | 76.29 | 2,119,277 |
12. To authorise the audit committee to fix the remuneration of the auditors | 9,482,537,376 | 99.52 | 45,699,978 | 0.48 | 9,528,237,354 | 76.29 | 1,951,310 |
13. To approve the Company's 2022 Climate Report | 6,500,641,495 | 69.75 | 2,819,339,060 | 30.25 | 9,319,980,555 | 74.63 | 209,511,018 |
14. To approve the Directors' Remuneration Report as set out in the 2022 Annual Report | 9,008,100,449 | 95.72 | 403,148,542 | 4.28 | 9,411,248,991 | 75.36 | 119,027,673 |
15. To renew the authority pursuant to Article 10.2 of the Company's Articles | 9,003,933,264 | 94.50 | 524,360,319 | 5.50 | 9,528,293,583 | 76.30 | 1,981,080 |
16. To renew the authority conferred to Directors pursuant to Article 10.3 to allot equity securities | 8,434,185,527 | 88.52 | 1,094,118,078 | 11.48 | 9,528,303,605 | 76.30 | 1,973,059 |
17. To empower the Directors pursuant to Article 10.3 to allot further equity securities | 8,421,375,837 | 88.38 | 1,106,922,912 | 11.62 | 9,528,298,749 | 76.30 | 1,977,914 |
18. To make market purchases of ordinary shares | 8,952,074,649 | 93.96 | 575,550,083 | 6.04 | 9,527,624,732 | 76.29 | 2,651,932 |
19. Shareholder resolution in respect of the next Climate Action Transition Plan | 2,747,341,554 | 29.20 | 6,662,972,143 | 70.80 | 9,410,313,697 | 75.35 | 119,949,466 |
\* Total voting rights of the shares in issue, excluding 1,311,278,492 shares held in treasury.
We note that Resolution 13, on approving our 2022 Climate Report, was supported by the majority of shareholders. However, we recognise that some shareholders (30.25%) chose not to support this resolution.
We also note that Resolution 19, which was requisitioned by a group of shareholders, was rejected by the majority of our shareholders. However, we recognise that 29.20% of shareholders chose to support the resolution.
We will continue to engage with shareholders so as to ensure their views are fully understood and to better understand the reasons behind these results. We will publish an update on this engagement, in accordance with the UK Corporate Governance Code, within six months of the 2023 AGM.
Distribution
Following the approval of the distribution at the 2023 AGM, shareholders are referred to the announcements dated 15 February 2023 and 28 April 2023 and confirm that the information and salient dates set out therein, remain unchanged.
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 |
Company Secretarial | |||
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 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 support decarbonisation while meeting the energy needs of today.
With around 140,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 40 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 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.
We recognise our responsibility to contribute to the global effort to achieve the goals of the Paris Agreement by decarbonising our own operational footprint. We believe that we should take a holistic approach and have considered our commitment through the lens of our global industrial emissions. Against a 2019 baseline, we are committed to reducing our Scope 1, 2 and 3 industrial emissions by 15% by the end of 2026, 50% by the end of 2035 and we have an ambition to achieve net zero industrial emissions by the end of 2050. For more detail see our 2022 Climate Report on the publication page of our website at glencore.com/publications.
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Disclaimer The 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.