DOCSLIB.ORG

Glencore Finance (Europe) Limited Glencore Plc Glencore International AG Glencore (Schweiz) AG

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Glencore Finance (Europe) Limited Glencore Plc Glencore International AG Glencore (Schweiz) AG Base Prospectus dated 14 June 2019 Glencore Finance (Europe) Limited (incorporated in Jersey) guaranteed by Glencore plc (incorporated in Jersey) and Glencore International AG (incorporated in Switzerland) and Glencore (Schweiz) AG (incorporated in Switzerland) U.S.$20,000,000,000 Euro Medium Term Note Programme Arranger Barclays Dealers Barclays BNP PARIBAS Citigroup Credit Suisse Deutsche Bank HSBC J.P. Morgan NatWest Markets Under this U.S.$20,000,000,000 Euro Medium Term Note Programme (the “Programme”), Glencore Finance (Europe) Limited (the “Issuer”) may from time to time issue notes (the “Notes”) unconditionally (subject, in the case of Glencore (Schweiz) AG, to applicable Swiss law) and irrevocably guaranteed by Glencore plc (“Glencore” or the “Company”), Glencore International AG and Glencore (Schweiz) AG (each a “Guarantor” and together, the “Guarantors”) and denominated in any currency agreed between the Issuer, the Guarantors and the relevant Dealer (as defined below). The maximum aggregate principal amount of Notes outstanding at any one time under the Programme will not exceed U.S.$20,000,000,000 (and for this purpose, any Notes denominated in another currency shall be translated into U.S. dollars at the date of the agreement to issue such Notes (calculated in accordance with the provisions of the Dealership Agreement (as defined under “Subscription and Sale”)). The maximum aggregate principal amount of Notes which may be outstanding at any one time under the Programme may be increased from time to time, subject to compliance with the relevant provisions of the Dealership Agreement as defined under “Subscription and Sale”. The Notes may be issued on a continuing basis to one or more of the Dealers specified under “General Description of the Programme” and any additional Dealer appointed under the Programme from time to time by the Issuer and each Guarantor (each a “Dealer” and together the “Dealers”), which appointment may be for a specific issue or on an ongoing basis. References in this Base Prospectus to the “relevant Dealer” shall, in relation to an issue of Notes being (or intended to be) subscribed by more than one Dealer, be to the lead manager of such issue and, in relation to an issue of Notes subscribed by one Dealer, be to such Dealer. Application has been made for Notes issued under the Programme for the period of 12 months after the publication of this Base Prospectus to be listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the regulated market of the Luxembourg Stock Exchange (the “Luxembourg Stock Exchange’s Regulated Market”). References in the Base Prospectus to Notes being “listed” (and all related references) shall mean that such Notes have been listed on the Luxembourg Stock Exchange and admitted to trading on the Luxembourg Stock Exchange’s Regulated Market. The Luxembourg Stock Exchange’s Regulated Market is a regulated market for the purposes of the Directive of the European Parliament and the Council on markets in financial instruments 2014/65/EU (as amended, “MiFID II”). The Programme also permits Notes to be issued on the basis that they will not be admitted to listing, trading and/or quotation by any listing authority, stock exchange and/or quotation system or to be admitted to listing, trading and/or quotation by such other or further listing authorities as may be agreed with the Issuer (“Exempt Notes”). The Luxembourg Commission de Surveillance du Secteur Financier (the “CSSF”) has neither approved nor reviewed information contained in this Base Prospectus in connection with any Exempt Notes. Notice of the aggregate nominal amount of the Notes, interest (if any) payable in respect of Notes, the issue price of Notes and any other terms and conditions which are applicable to each Tranche (as defined under “Terms and Conditions of the Notes”) of Notes will be set out in the applicable final terms (the “Final Terms”) which, with respect to the Notes to be admitted to listing on the Official List of the Luxembourg Stock Exchange and to trading on the Regulated Market of the Luxembourg Stock Exchange, will be filed with the Luxembourg Stock Exchange and the CSSF. In the case of any Notes which are to be admitted to trading on a regulated market within the European Economic Area or offered to the public in a Member State of the European Economic Area in circumstances which require the publication of a prospectus under the Prospectus Directive (as defined herein), the minimum specified denomination shall be €100,000 (or its equivalent in any other currency as at the date of issue of the Notes). This document comprises a base prospectus for the purposes of Article 5.4 of the Prospectus Directive and for the purpose of giving information with regard to the Issuer and each Guarantor, which, according to the particular nature of the Issuer and each Guarantor and the Notes, is necessary to enable investors to make an informed assessment of the liabilities, financial position, profit and losses and prospects of the Issuer. 2 References in this Base Prospectus to the “Group” are to references to the Company and its subsidiaries and any subsidiary thereof from time to time, and references to “Xstrata” are to Xstrata Limited (previously known as Xstrata plc) and its subsidiaries and any subsidiary thereof as at completion of the acquisition by Glencore of Xstrata completed on 2 May 2013 (the “Acquisition”). The companies in which Glencore directly and indirectly has an interest are separate and distinct legal entities. In this document, “Glencore” and “Group” is 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. This document comprises the base prospectus in respect of Glencore Finance (Europe) Limited and for that purpose, this whole document would be referred to as the “Base Prospectus”. This Base Prospectus has been approved by the CSSF which is the Luxembourg competent authority for the purpose of the Prospectus Directive and relevant implementing measures in Luxembourg, as a base prospectus issued in compliance with the Prospectus Directive and relevant implementing measures in Luxembourg for the purpose of giving information with regard to the issue of Notes issued under the Programme described in this Base Prospectus during the period of twelve months after the date hereof. By approving this Base Prospectus, the CSSF does not give any undertaking as to the economical and financial soundness of the operation or the quality or solvency of the Issuer in line with the provisions of article 7(7) of the Luxembourg Act dated 10 July 2005 (as amended) relating to prospectuses for securities (loi relative aux prospectus pour valeurs mobilières). Prospective investors should have regard to the factors described under the section headed “Risk Factors” in this Base Prospectus. The Programme is, as of the date of this Base Prospectus, rated Baa1 in respect of the Notes by Moody’s Investors Service Ltd. (“Moody’s”) and BBB+ in respect of the Notes by S&P Global Ratings Europe Limited (“S&P”). Moody’s and S&P are established in the European Union and are registered under Regulation (EC) No 1060/2009 on credit rating agencies, as amended (the “CRA Regulation”). Further information relating to the registration of rating agencies under the CRA Regulation and a current list of registered credit rating agencies can be found on the website of the European Securities and Markets Authority. Tranches of Notes issued under the Programme may be rated or unrated. Where a Tranche of Notes is rated, the applicable rating(s), which will not necessarily be the same as the rating applicable to the Programme, will be specified in the relevant Final Terms. In general, European regulated investors are restricted from using a rating for regulatory purposes if such rating is not issued by a credit rating agency established in the European Union and registered under the CRA Regulation. A rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, change or withdrawal at any time by the assigning rating agency. Amounts payable under any floating rate notes (“Floating Rate Notes”) may be calculated by reference to one of LIBOR or EURIBOR (each as defined herein), as specified in the applicable Final Terms. As at the date of this Prospectus, the administrator of EURIBOR does not appear on the register of administrators and benchmarks (“Register of Administrators”) established and maintained by the European Securities and Markets Authority (“ESMA”) pursuant to article 36 of the Benchmark Regulation (Regulation (EU) 2016/1011) (the “BMR”). As far as the Issuer is aware, the transitional provisions in Article 51 of the BMR apply, such that the administrator of EURIBOR is not currently required to obtain authorisation or registration. As of the date of this Prospectus, IBA (ICE Benchmark Administration Ltd), the administrator of LIBOR, is included on the Register of Administrators. 3 This document should be read and construed together with any supplements hereto and with any other documents incorporated by reference herein and, in relation
Load more

Recommended publications
  • Annual Report and Financial Statements 2016 Introduction
    ANNUAL REPORT AND FINANCIAL STATEMENTS 2016 INTRODUCTION Antofagasta is a Chilean copper mining group with signifi cant by-product production and interests in transport. The Group creates value for its stakeholders through the discovery, development and operation of copper mining assets. The Group is committed to generating value in a safe and sustainable way throughout the commodity cycle. See page 2 for more information CONTENTS STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS 01-05 66-119 120-187 OVERVIEW 2016 highlights 1 Leadership Independent auditors’ report 122 At a glance 2 Chairman’s Governance Q&A 68 Consolidated income statement 127 Letter from the Chairman 4 Senior Independent Director’s Q&A 70 Consolidated statement Governance overview 71 of comprehensive income 128 Board of Directors 72 Consolidated statement of Executive Committee 76 changes in equity 128 06-27 Effectiveness Consolidated balance sheet 129 STRATEGY Board activities 78 Consolidated cash flow statement 130 Professional development 80 Notes to the financial statements 131 Effectiveness reviews 82 Parent company financial statements 181 Statement from the CEO 8 Accountability Question and answer 9 Nomination and Governance Committee 85 Investment case 10 Audit and Risk Committee 88 Our new operating model 11 Sustainability and Stakeholder Our position in the market 14 188-204 Management Committee 92 Our strategy 16 OTHER INFORMATION Projects Committee 94 Key performance indicators 18 Remuneration Risk management 20 Five year summary 188 Committee Chairman’s Principal
    [Show full text]
  • Itraxx Europe & Crossover Series 35 Final Membership List
    iTraxx Europe & Crossover Series 35 Final Membership List March 2021 Copyright © 2021 IHS Markit Ltd T180614 iTraxx Europe & Crossover Series 35 Final Membership List 1 iTraxx Europe Series 35 Final Membership List......................................... 3 2 iTraxx Europe Series 35 Final vs. Series 34.............................................. 7 3 iTraxx Crossover Series 35 Final Membership List ................................... 8 4 iTraxx Crossover Series 35 Final vs. Series 34........................................11 5 Further information ...................................................................................12 Copyright © 2021 IHS Markit Ltd | 2 T180614 iTraxx Europe & Crossover Series 35 Final Membership List 1 iTraxx Europe Series 35 Final Membership List iTraxx Sector IHS Markit Ticker IHS Markit Long Name Autos & Industrials AIRBSE AIRBUS SE Autos & Industrials VLVY AKTIEBOLAGET VOLVO Autos & Industrials AKZO AKZO NOBEL N.V. Autos & Industrials ALSTOM ALSTOM Autos & Industrials AAUK ANGLO AMERICAN PLC Autos & Industrials AZN ASTRAZENECA PLC Autos & Industrials BAPLC BAE SYSTEMS PLC Autos & Industrials BASFSE BASF SE Autos & Industrials BYIF BAYER AKTIENGESELLSCHAFT Autos & Industrials BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT Autos & Industrials BOUY BOUYGUES Autos & Industrials CNHIND CNH INDUSTRIAL N.V. Autos & Industrials STGOBN COMPAGNIE DE SAINT-GOBAIN Autos & Industrials COMPFIAG COMPAGNIE FINANCIERE MICHELIN SA Autos & Industrials CONTI CONTINENTAL AKTIENGESELLSCHAFT Autos & Industrials DAMLR DAIMLER
    [Show full text]
  • Glencore's Shares Drop After Justice Department Subpoena
    WL SEIS Exhibit 9 https://www.nytimes.com/2018/07/03/business/glencore-subpoena-mining-commodities.html Glencore’s Shares Drop After Justice Department Subpoena By Stanley Reed and Michael J. de la Merced July 3, 2018 LONDON — Glencore, a Switzerland‑based mining and commodities trading giant, said on Tuesday that it had received a subpoena from the United States Department of Justice requesting documents in a money‑laundering and corruption investigation. The subpoena is tied to Glencore’s dealings in the Democratic Republic of Congo, Nigeria and Venezuela since 2007, and it seeks material related to “compliance with the Foreign Corrupt Practices Act” and with United States money‑laundering rules, the company said in a statement. News that American investigators were looking into Glencore’s businesses spooked investors, sending the company’s share price down as much as 13 percent at one point on Tuesday. By late afternoon in London, its stock price had recovered somewhat, but was still 5 percent lower. Charles Watenphul, a Glencore spokesman, said, “We got this letter last night; we are going through it.” While Glencore has not been charged with any crime, the development is a blow to one of the most powerful commodities mining and trading empires around, one that employs 146,000 workers around the world. With headquarters in Baar, near Zurich, the company is among the biggest producers of copper and of cobalt, a crucial component of batteries for electric vehicles and electronic devices like smartphones. (Cobalt is so important that the Trump administration has deemed it critical for American national security.) Glencore is also a major player in coal, with 26 mines in countries such as Australia, Colombia and South Africa.
    [Show full text]
  • Bankrolling the World
    Since 2005, the UK’s high street banks have poured at least £12 billion into coal mining. Much of this is ordinary people’s money. Stop By nancing this dirty industry, banks are complicit in pushing people off their land and destroying communities around bankrolling the world. Coal is extracted and exported for use elsewhere, while many of the affected communities are among the 1.3 billion people who have no access to electricity. coal Join with WDM in calling for banks to get out of coal. The facts: UK banks and coal mining 2005-2012 £4.0bn £3.1bn £2.1bn £1.9bn £900m RBS and NatWest: Barclays: HSBC: Standard Chartered: Lloyds Banking Group: Glencore Xstrata*, South Africa Bumi Resources, Indonesia Drummond, Colombia Borneo Lumbung, Indonesia Cerrejón, Colombia The RBS Group (including NatWest), is the Barclays has long been a target of public HSBC is the UK’s biggest bank and one of Standard Chartered is descended from the A large part of Lloyds Banking Group (inlcuding biggest fi nancier of coal mining in the UK. anger for its lack of ethics, from links to the top three banks in the world. It was ‘Chartered Bank of India, Australia and China’ Halifax and Bank of Scotland) is owned by the After the fi nancial crisis of 2008, RBS was Apartheid South Africa in the 1980s to the established in 1865 as the Hong Kong and and the ‘Standard Bank of British South UK taxpayer. Despite being smaller than the 84 per cent nationalised as part of the bank recent rate fi xing scandal.
    [Show full text]
  • Annex 1: Parker Review Survey Results As at 2 November 2020
    Annex 1: Parker Review survey results as at 2 November 2020 The data included in this table is a representation of the survey results as at 2 November 2020, which were self-declared by the FTSE 100 companies. As at March 2021, a further seven FTSE 100 companies have appointed directors from a minority ethnic group, effective in the early months of this year. These companies have been identified through an * in the table below. 3 3 4 4 2 2 Company Company 1 1 (source: BoardEx) Met Not Met Did Not Submit Data Respond Not Did Met Not Met Did Not Submit Data Respond Not Did 1 Admiral Group PLC a 27 Hargreaves Lansdown PLC a 2 Anglo American PLC a 28 Hikma Pharmaceuticals PLC a 3 Antofagasta PLC a 29 HSBC Holdings PLC a InterContinental Hotels 30 a 4 AstraZeneca PLC a Group PLC 5 Avast PLC a 31 Intermediate Capital Group PLC a 6 Aveva PLC a 32 Intertek Group PLC a 7 B&M European Value Retail S.A. a 33 J Sainsbury PLC a 8 Barclays PLC a 34 Johnson Matthey PLC a 9 Barratt Developments PLC a 35 Kingfisher PLC a 10 Berkeley Group Holdings PLC a 36 Legal & General Group PLC a 11 BHP Group PLC a 37 Lloyds Banking Group PLC a 12 BP PLC a 38 Melrose Industries PLC a 13 British American Tobacco PLC a 39 Mondi PLC a 14 British Land Company PLC a 40 National Grid PLC a 15 BT Group PLC a 41 NatWest Group PLC a 16 Bunzl PLC a 42 Ocado Group PLC a 17 Burberry Group PLC a 43 Pearson PLC a 18 Coca-Cola HBC AG a 44 Pennon Group PLC a 19 Compass Group PLC a 45 Phoenix Group Holdings PLC a 20 Diageo PLC a 46 Polymetal International PLC a 21 Experian PLC a 47
    [Show full text]
  • Constituents & Weights
    2 FTSE Russell Publications 19 August 2021 FTSE 100 Indicative Index Weight Data as at Closing on 30 June 2021 Index weight Index weight Index weight Constituent Country Constituent Country Constituent Country (%) (%) (%) 3i Group 0.59 UNITED GlaxoSmithKline 3.7 UNITED RELX 1.88 UNITED KINGDOM KINGDOM KINGDOM Admiral Group 0.35 UNITED Glencore 1.97 UNITED Rentokil Initial 0.49 UNITED KINGDOM KINGDOM KINGDOM Anglo American 1.86 UNITED Halma 0.54 UNITED Rightmove 0.29 UNITED KINGDOM KINGDOM KINGDOM Antofagasta 0.26 UNITED Hargreaves Lansdown 0.32 UNITED Rio Tinto 3.41 UNITED KINGDOM KINGDOM KINGDOM Ashtead Group 1.26 UNITED Hikma Pharmaceuticals 0.22 UNITED Rolls-Royce Holdings 0.39 UNITED KINGDOM KINGDOM KINGDOM Associated British Foods 0.41 UNITED HSBC Hldgs 4.5 UNITED Royal Dutch Shell A 3.13 UNITED KINGDOM KINGDOM KINGDOM AstraZeneca 6.02 UNITED Imperial Brands 0.77 UNITED Royal Dutch Shell B 2.74 UNITED KINGDOM KINGDOM KINGDOM Auto Trader Group 0.32 UNITED Informa 0.4 UNITED Royal Mail 0.28 UNITED KINGDOM KINGDOM KINGDOM Avast 0.14 UNITED InterContinental Hotels Group 0.46 UNITED Sage Group 0.39 UNITED KINGDOM KINGDOM KINGDOM Aveva Group 0.23 UNITED Intermediate Capital Group 0.31 UNITED Sainsbury (J) 0.24 UNITED KINGDOM KINGDOM KINGDOM Aviva 0.84 UNITED International Consolidated Airlines 0.34 UNITED Schroders 0.21 UNITED KINGDOM Group KINGDOM KINGDOM B&M European Value Retail 0.27 UNITED Intertek Group 0.47 UNITED Scottish Mortgage Inv Tst 1 UNITED KINGDOM KINGDOM KINGDOM BAE Systems 0.89 UNITED ITV 0.25 UNITED Segro 0.69 UNITED KINGDOM
    [Show full text]
  • Responsibly Sourcing the Commodities for Everyday Life Sustainability Highlights 2018 Key Highlights
    Responsibly sourcing the commodities for everyday life Sustainability Highlights 2018 Key highlights Continued roll out of our water management guideline Zero 30% major or catastrophic decrease in new environmental cases of occupational incidents during 2018 disease: 32 cases (2017: 46 cases) Zero serious human rights incidents $5.7bn tax and royalty Published our payments climate change position statement 33,944 employees and contractors completed e-Learning training on our Code of Conduct Maintaining our TSF structural integrity with our dam safety assurance 9% programme reduction in Scope 1 and 2 carbon emissions Ongoing engagement with organisations regarding responsible sourcing Rolled out our Group Diversity Policy Participating in developing guidance on the UN’s Guiding Principles for $95m the commodity spent on trading sector community initiatives Our strategic approach As a global producer and marketer of commodities, our geographic presence, products and activities make us unique. Integrating our marketing and industrial business sets us apart from our competitors, helps us generate value and provides greater oversight over our value chain Our strategic objective is to grow total shareholder returns Sustainability framework in a sustainable manner while maintaining a strong investment Corporate strategy grade rating and acting as a responsible operator. We recognise Integration Maintain a robust Focus on cost control our ongoing responsibility to not of sustainability and flexible and operational only deliver financial performance throughout our business balance sheet efficiencies but also make a positive contribution to society and create lasting benefits Values for stakeholders in a manner that Safety – Entrepreneurialism – is responsible, transparent and Simplicity – Responsibility – Openness respectful to the rights of all.
    [Show full text]
  • The Endgame for Commodity Traders Why Only the Biggest and Digitally Advanced Traders Will Thrive
    THE ENDGAME FOR COMMODITY TRADERS WHY ONLY THE BIGGEST AND DIGITALLY ADVANCED TRADERS WILL THRIVE Alexander Franke • Roland Rechtsteiner • Graham Sharp he commodity trading industry is a critical mass in one or more commodities confronting a new, less profitable reality. and the rest of the pack is widening. Within TAfter flatlining for several years, the a few years, the industry will have a different industry’s gross margins in 2016 dipped 4.5 profile – one that is even more dominated by percent to $42 billion, our research shows. the biggest players. (See Exhibit 1.) This decline is setting off a torrent of deal-making and speculation that is transforming the face of commodity WHY BIG MATTERS trading – with examples like Hong Kong-based Noble Group selling part of its business to the The beginning of the endgame started last global energy trader, Vitol; oil trader Gunvor in year with the decline in margins and took off talks with potential acquirers; and Swiss trading in earnest in 2017, as we predicted in our 2016 giant Glencore circling US grain trader Bunge. report, “Reimagining Commodity Trading.” As companies tried to adjust to the industry’s The industry’s endgame has started. From new economics, the clear edge for larger oil to agriculture, building scale is proving operations started to become evident. It didn’t to be the key competitive advantage for the matter if commodity traders had sprawling future. The largest trading companies – both global businesses diversified across various diversified firms and those concentrating commodities or if they specialized in one or two.
    [Show full text]
  • Justice for People and Planet Ending the Age of Corporate Capture, Collusion and Impunity
    Justice for People and Planet Ending the age of corporate capture, collusion and impunity Greenpeace Justice for International People and Planet Table of Contents Glossary of key terms 5 4. Corporate Accountability Principles 47 Key acronyms 7 1. People and the environment, not corporations, must be at Executive Summary 9 the heart of governance and public life. 47 Chapter 1: Introduction 17 2. Public participation must be inherent to all policy making. 48 1.1 The state of the world 17 3. States should abandon policies that undermine environmental and human rights. 48 1.2 Why change is possible 18 4. Corporations should be subject to binding rules both 1.3 Structure of the report 19 where they are based and where they operate. 49 1.4 Methodology and limitations 19 5. States should require due diligence reporting and cradle to Chapter 2: Corporate impunity is a result of state failures 21 grave responsibility for corporate products and services. 49 2.1 The regulation of corporations: rights for 6. States should promote a race to the top by prohibiting businesses, rules for people 21 corporations from carrying out activities abroad which 2.1.1 The 45-year battle for a binding international instrument 21 are prohibited in their home state for reasons of risks to environmental or human rights. 50 Box 1: Binding national business and human rights laws and proposals 23 7. States should create policies that provide transparency in all corporate and government activities that impact 2.1.2 Corporate law and the purpose of the corporation environmental and human rights, including in trade, tax, to maximise profits 24 finance and investment regimes.
    [Show full text]
  • Swiss Energy Strategy 2050 a Miner’S Perspective
    Swiss Energy Strategy 2050 A miner’s perspective Kenny Ives, Head of Nickel Marketing Bern, 17 January 2020 Wind power generation, Raglan nickel mine, Canada Important notice concerning this document including forward looking statements 1 This document contains statements that are, or may be deemed to be, “forward looking statements” which are prospective in nature. These forward looking statements may be identified by the use of forward looking terminology, or the negative thereof such as “outlook”, "plans", "expects" or "does not expect", "is expected", "continues", "assumes", "is subject to", "budget", "scheduled", "estimates", "aims", "forecasts", "risks", "intends", "positioned", "predicts", "anticipates" or "does not anticipate", or "believes", or variations of such words or comparable terminology and phrases or statements that certain actions, events or results "may", "could", "should", “shall”, "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are not based on historical facts, but rather on current predictions, expectations, beliefs, opinions, plans, objectives, goals, intentions and projections about future events, results of operations, prospects, financial condition and discussions of strategy. By their nature, forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond Glencore’s control. Forward-looking statements are not guarantees of future performance and may and often do differ materially from actual results. Important factors that could cause these uncertainties include, but are not limited to, those disclosed in Glencore’s 2018 Annual Report. For example, our future revenues from our assets, projects or mines will be based, in part, on the market price of the commodity products produced, which may vary significantly from current levels.
    [Show full text]
  • Preliminary Results 2019
    Preliminary Results 2019 18 February 2020 Important notice concerning this document including forward looking statements This document contains statements that are, or may be deemed to be, “forward looking statements” which are prospective in nature. These forward looking statements may be identified by the use of forward looking terminology, or the negative thereof such as “outlook”, "plans", "expects" or "does not expect", "is expected", "continues", "assumes", "is subject to", "budget", "scheduled", "estimates", "aims", "forecasts", "risks", "intends", "positioned", "predicts", "anticipates" or "does not anticipate", or "believes", or variations of such words or comparable terminology and phrases or statements that certain actions, events or results "may", "could", "should", “shall”, "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are not based on historical facts, but rather on current predictions, expectations, beliefs, opinions, plans, objectives, goals, intentions and projections about future events, results of operations, prospects, financial condition and discussions of strategy. By their nature, forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond Glencore’s control. Forward-looking statements are not guarantees of future performance and may and often do differ materially from actual results. Important factors that could cause these uncertainties include, but are not limited to, those disclosed in Glencore’s 2018 Annual Report, which will be updated in the 2019 Annual Report that is expected to be published in late February 2020. For example, our future revenues from our assets, projects or mines will be based, in part, on the market price of the commodity products produced, which may vary significantly from current levels.
    [Show full text]
  • Corporate Governance
    Strategic report Governance Financial statements Additional information SAFETY Christine has worked with the Human Resources team at Sudbury since 2005. Her role encompasses Occupational Health initiatives, because keeping people safe isn’t only about their physical safety at work. “We ask if they are fit for duty, and it’s not just Christine McGarry ‘do they have something physical that you can see?’ We also ask about their mental Labour Relations & Disability wellbeing. Individuals have told us that we Management Specialist have saved their lives, saved their families – Sudbury INO, Canada and saved their ability to keep working.” Learn more about our culture and how we work safely on www.glencore.com INTEGRITY Emile has worked as a Legal Counsel for Glencore in the Democratic Republic of the Congo for four years. “Integrity is doing the right thing at the right moment, even when no one is watching. It’s not always easy to live with integrity. But Emile Luketa whatever your background, we all have a common ground, and that means we need Legal Counsel – Democratic Republic of the Congo to live with a sense of wrong and right.” Learn more about our culture and how we work with integrity on www.glencore.com CORPORATE GOVERNANCE Chairman’s governance statement 86 Directors and officers 88 Corporate governance report 90 ECC report 95 HSEC report 96 Audit committee report 97 Nomination committee report 99 Directors’ remuneration report 100 Directors’ report 112 Glencore Annual Report 2020 85 CHAIRMAN’S GOVERNANCE STATEMENT Anthony Hayward Chairman DEAR SHAREHOLDERS As noted last year, the 2018 UK Corporate Governance Code (the 2020 has seen a marked acceleration in the focus on Code) provides that the chairman should be subject to a nine year Environmental, Social and Governance issues, and increasing term limit from first appointment as a director.
    [Show full text]