Sprouts Farmers Market closes $600 million revolving credit facility
BAAR, Switzerland - Glencore (OTC:GLNCY) PLC reported that its Annual General Meeting (AGM), held on Wednesday, saw shareholders pass all proposed resolutions, including the special resolutions regarding the company’s capital contribution reserves and the conversion of its shares into no par value shares.
The mining and commodities giant announced that the resolution to receive the company’s accounts, alongside the directors’ and auditors’ reports for the year ended December 31, 2024, was overwhelmingly approved with 99.91% of votes in favor.
Additionally, a significant resolution passed was the approval to reduce the company’s capital contribution reserves, part of its share premium account, and repay shareholders as outlined in the meeting’s notice. This resolution saw a near-unanimous vote with 99.99% in favor.
The election and re-election of board directors also received strong support, with all nominees securing their positions with substantial majorities. Notably, Kalidas Madhavpeddi was re-elected with 95.20% of the votes, and Gary Nagle, Martin Gilbert, and Gill Marcus all received over 98% approval for their re-election.
The appointment of Deloitte LLP as the company’s auditors was reaffirmed with 96.91% of the votes, and the authorization for the audit committee to set the auditors’ remuneration was approved with 99.43% of the votes.
Moreover, the Directors’ Remuneration Policy, as detailed in the 2024 Annual Report, was approved by 97.43% of the votes, indicating shareholder support for the company’s executive compensation framework.
The resolution to convert all of the company’s shares into no par value shares under the Companies (Jersey) Law 1991 was passed with 99.76% approval, signaling a significant change in the company’s share structure.
The authority for the company to make market purchases of ordinary shares was also granted, with 96.54% of the votes in favor.
The AGM’s results reflect shareholders’ confidence in Glencore’s governance and strategic direction, with a high percentage of voting rights exercised at 73.95% for most resolutions.
This report is based on a press release statement from Glencore PLC.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.