Results of 2023 AGM

Glencore PLC

26 May 2023

 

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: [phone]	m: [phone]	[e-mail]
Media
Charles Watenphul	t: [phone]	m: [phone]	[e-mail]
Company Secretarial
John Burton	t: [phone]	m: [phone]	[e-mail]
Nicola Leigh	t: [phone]	m: [phone]	[e-mail]
Lionel Mateo	t: [phone]	m: [phone]	[e-mail]

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.

 

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