Avior Capital Markets - Glencore plc (8GC) Glencore | Proxy voting and governance recommendation

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Avior Capital Markets

Matthew Shields

Glencore | Proxy voting and governance recommendation

Glencore (GLN) receives a governance score of 2.92 out of 5.00 and is rated as 'Adequate'. In this note we discuss a number of controversial issues involving GLN which pose as a risk to the Group. In addition, we believe that the Group's remuneration report is inadequate and lacks sufficient information regarding the assessment of executive performance. Disappointingly, GLN's safety performance deteriorated in 2018.

23/04/2019 15 EN

Underlying

Glencore plc

Glencore is engaged as a natural resource companies. Co. is organized and operates on a worldwide basis in three main business segments: Metals and minerals, which comprised of zinc, copper, lead, alumina, aluminium, ferroalloys, nickel, cobalt and iron ore; Energy products, which comprised of crude oil, oil products, steam coal and metallurgical coal; and Agricultural products, which comprised of wheat, corn, canola, barley, rice, oil seeds, meals, edible oils, biofuels, cotton and sugar supported by investments in storage, handling, processing and port facilities.

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JE00B4T3BW64 Stuttgart Stock Exchange Jersey

Provider

Avior Capital Markets

Avior is a globally recognised capital markets research and trading firm, with the broadest research coverage within the region, with 100+ SA and 20+ SSA companies under coverage. Avior services clients from offices in London, Cape Town and Johannesburg.

Our research quality is consistently recognised in local and global surveys, with 18 analysts currently rated in their respective sectors (FM 2017). Value add through in-depth, innovative, high quality and consistent research with comprehensive underlying fundamental modelling supported by regular analyst and roadshow interactions.

Avior has proven that by working closely with our clients we can mutually develop dominant positions in certain sectors, going from strength to strength. Avior has a dedicated ESG team, having been ranked #1 in Corporate Governance research since 2008.

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Analysts

Matthew Shields

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