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Parker Review
Ethnic Diversity Enriching Business Leadership An update report from The Parker Review Sir John Parker The Parker Review Committee 5 February 2020 Principal Sponsor Members of the Steering Committee Chair: Sir John Parker GBE, FREng Co-Chair: David Tyler Contents Members: Dr Doyin Atewologun Sanjay Bhandari Helen Mahy CBE Foreword by Sir John Parker 2 Sir Kenneth Olisa OBE Foreword by the Secretary of State 6 Trevor Phillips OBE Message from EY 8 Tom Shropshire Vision and Mission Statement 10 Yvonne Thompson CBE Professor Susan Vinnicombe CBE Current Profile of FTSE 350 Boards 14 Matthew Percival FRC/Cranfield Research on Ethnic Diversity Reporting 36 Arun Batra OBE Parker Review Recommendations 58 Bilal Raja Kirstie Wright Company Success Stories 62 Closing Word from Sir Jon Thompson 65 Observers Biographies 66 Sanu de Lima, Itiola Durojaiye, Katie Leinweber Appendix — The Directors’ Resource Toolkit 72 Department for Business, Energy & Industrial Strategy Thanks to our contributors during the year and to this report Oliver Cover Alex Diggins Neil Golborne Orla Pettigrew Sonam Patel Zaheer Ahmad MBE Rachel Sadka Simon Feeke Key advisors and contributors to this report: Simon Manterfield Dr Manjari Prashar Dr Fatima Tresh Latika Shah ® At the heart of our success lies the performance 2. Recognising the changes and growing talent of our many great companies, many of them listed pool of ethnically diverse candidates in our in the FTSE 100 and FTSE 250. There is no doubt home and overseas markets which will influence that one reason we have been able to punch recruitment patterns for years to come above our weight as a medium-sized country is the talent and inventiveness of our business leaders Whilst we have made great strides in bringing and our skilled people. -
Airtel Africa Plc Results for the Nine-Month Period Ended 31 December 2020 29 January 2021
Airtel Africa plc Results for the nine-month period ended 31 December 2020 29 January 2021 Another quarter of double-digit growth, with continued improvement in revenue growth and EBITDA profitability Highlights • Reported revenue increased by 13.8% to $2,870m with Q3’21 reported revenue growth of 19.5%. • Constant currency underlying revenue growth was 18.6%, with Q3’21 growth of 22.8%. Growth for the nine months was recorded across all regions: Nigeria up 21.6%, East Africa up 23.4% and Francophone Africa up 8.0%; and across all services, with voice revenue up 10.4%, data up 31.1% and mobile money up 34.2%. • Underlying EBITDA for the nine months was $1,297m, up 16% in reported currency while constant currency underlying EBITDA growth was 22.5%. • Underlying EBITDA margin for the nine months was 45.5%, up by 118 bps (up 144 bps in constant currency). Q3’21 underlying EBITDA margin was 46.9%. • Operating profit increased by 21.8% to $800m in reported currency, and by 29.9% in constant currency. • Free cash flow was $466m, up 20% compared to the same period last year. • Basic EPS was 5.5 cents, down 36.5%, largely due to prior year exceptional items and a one-off derivative gain. Excluding these, basic EPS rose by 19.8%. EPS before exceptional items was 5.0 cents. • Customer base up 11.0% to 118.9 million, with increased penetration across mobile data (customer base up 23.5%) and mobile money services (customer base up 29.0%). -
Aviso De Derechos Para Emisoras Del SIC
Aviso de Derechos para emisoras del SIC FECHA: 22/06/2021 BOLSA MEXICANA DE VALORES, S.A.B DE C.V, INFORMA: FOLIO DE REFERENCIA DEL EVENTO CORPORATIVO 145737 FOLIO DE REFERENCIA INDEVAL 308327C001 TIPO DE MENSAJE NEW COMPLETO / INCOMPLETO INCOMPLETE CONFIRMADO / NO CONFIRMADO UNCONFIRMED CLAVE DE COTIZACIÓN MROS RAZÓN SOCIAL MELROSE INDUSTRIES PLC SERIE N ISIN GB00BZ1G4322 MERCADO PRINCIPAL LONDON STOCK EXCHANGE TIPO DE EVENTO REVERSE STOCK SPLIT/CHANGE IN NOMINAL VALUE MANDATORIO / OPCIONAL / VOLUNTARIO Mandatory FECHA EFECTOS 31/08/2021 FECHA EXDATE 31/08/2021 FECHA REGISTRO 27/08/2021 OPCIÓN 1 TIPO Security DEFAULT true TRANSACCIÓN Securities Movement CREDIT / DEBIT Debit FECHA DE PAGO 31/08/2021 Bolsa Mexicana de Valores S.A.B. de C.V. 1 Aviso de Derechos para emisoras del SIC FECHA: 22/06/2021 VALORES A RECIBIR GB00BZ1G4322 TRANSACCIÓN Securities Movement CREDIT / DEBIT Credit FECHA DE PAGO 31/08/2021 NewToOld RATIO 9 / 10 VALORES A RECIBIR GB00BNR5MZ78 DISPOSICIÓN FRACCIONES RoundDown NOTAS DEL EVENTO CORPORATIVO NOTA (22/06/2021) RETURN OF CAPITAL AND SHARE CONSOLIDATION Melrose Industries PLC has announced the completion of the GBP2.62 billion (USD3.625 billion) disposal of its Nortek Air Management Division to Madison Industries LLC and has confirmed the proposed return of approximately GBP730 million in cash to Shareholders, equivalent to 15 pence per Existing Ordinary Share. A circular seeking the approval of Shareholders in respect of the Proposed Return of Capital will be posted on 22 June 2021. As previously announced, in addition to funding the Proposed Return of Capital, the net Disposal proceeds will be used to contribute approximately GBP100 million to the GKN UK defined benefit pension schemes, so that the funding deficit will be less than GBP200 million, as well as to reduce Group net debt, so that the leverage in the Group adjusting for the Proposed Return of Capital will be below 2x EBITDA as at 30 June 2021. -
Factset-Top Ten-0521.Xlsm
Pax International Sustainable Economy Fund USD 7/31/2021 Port. Ending Market Value Portfolio Weight ASML Holding NV 34,391,879.94 4.3 Roche Holding Ltd 28,162,840.25 3.5 Novo Nordisk A/S Class B 17,719,993.74 2.2 SAP SE 17,154,858.23 2.1 AstraZeneca PLC 15,759,939.73 2.0 Unilever PLC 13,234,315.16 1.7 Commonwealth Bank of Australia 13,046,820.57 1.6 L'Oreal SA 10,415,009.32 1.3 Schneider Electric SE 10,269,506.68 1.3 GlaxoSmithKline plc 9,942,271.59 1.2 Allianz SE 9,890,811.85 1.2 Hong Kong Exchanges & Clearing Ltd. 9,477,680.83 1.2 Lonza Group AG 9,369,993.95 1.2 RELX PLC 9,269,729.12 1.2 BNP Paribas SA Class A 8,824,299.39 1.1 Takeda Pharmaceutical Co. Ltd. 8,557,780.88 1.1 Air Liquide SA 8,445,618.28 1.1 KDDI Corporation 7,560,223.63 0.9 Recruit Holdings Co., Ltd. 7,424,282.72 0.9 HOYA CORPORATION 7,295,471.27 0.9 ABB Ltd. 7,293,350.84 0.9 BASF SE 7,257,816.71 0.9 Tokyo Electron Ltd. 7,049,583.59 0.9 Munich Reinsurance Company 7,019,776.96 0.9 ASSA ABLOY AB Class B 6,982,707.69 0.9 Vestas Wind Systems A/S 6,965,518.08 0.9 Merck KGaA 6,868,081.50 0.9 Iberdrola SA 6,581,084.07 0.8 Compagnie Generale des Etablissements Michelin SCA 6,555,056.14 0.8 Straumann Holding AG 6,480,282.66 0.8 Atlas Copco AB Class B 6,194,910.19 0.8 Deutsche Boerse AG 6,186,305.10 0.8 UPM-Kymmene Oyj 5,956,283.07 0.7 Deutsche Post AG 5,851,177.11 0.7 Enel SpA 5,808,234.13 0.7 AXA SA 5,790,969.55 0.7 Nintendo Co., Ltd. -
Annual Report 2018 – Melrose Industries
Buy Improve Sell Melrose Annual Report 2018 Melrose Industries PLC Melrose Industries PLC Melrose Annual Report 2018 Melrose Industries PLC Acquiring good quality manufacturing businesses, making operational improvements, realising shareholder value at the appropriate time and then returning this value to shareholders, continue to be the fundamentals of the “Buy, Improve, Sell” business strategy that Melrose has followed since it was founded in 2003. Our strategy Financial statements Our strategy and business model 2 Independent auditor’s report to the Strategy in action members of Melrose Industries PLC 114 GKN – Buy 4 Consolidated Income Statement 126 Nortek – Improve 6 Consolidated Statement Elster – Sell 8 of Comprehensive Income 127 Consolidated Statement of Cash Flows 128 Strategic Report Consolidated Balance Sheet 129 Consolidated Statement Shareholder value creation 10 of Changes in Equity 130 Highlights of the year 12 Notes to the Financial Statements 131 Chairman’s statement 14 Company Balance Sheet Chief Executive’s review 16 for Melrose Industries PLC 182 Key performance indicators 18 Company Statement of Changes in Equity 182 Divisional review Notes to the Company Balance Sheet 183 Aerospace 20 Glossary Automotive 24 193 Powder Metallurgy 28 Nortek Air & Security 32 Other Industrial 36 Shareholder information Finance Director’s review 40 Notice of Annual General Meeting 197 Longer-term viability statement 49 Company and shareholder information 202 Risk management 50 Risks and uncertainties 52 Corporate Social Responsibility 59 Governance Governance overview 70 For more information visit Board of Directors 72 melroseplc.net Directors’ report 74 Corporate governance report 78 Audit Committee report 82 Nomination Committee report 90 Directors’ Remuneration report 92 Statement of Directors’ responsibilities 113 Cautionary statement The Strategic Report and certain other sections of this Annual Report and financial statements contain forward-looking statements. -
Sustainable Investment Report Marketing Material First Quarter 2020
Sustainable Investment Report Marketing material First quarter 2020 Environmental, Social and Governance is referred to as ESG throughout Contents 1 13 Introduction Stewardship Insights Proxy voting: 2020 pre-season trends Engagement in practice: oilfield services 2 17 Sustainability Insights Stewardship Activity How coronavirus is turning the spotlight A new approach to reporting on sustainable investing Engagement in numbers How the investment industry can help during the Covid crisis Voting in numbers An investor guide to spotting Total company engagement “greenwashers” Engagement progress Will CO2 rules choke car industry profits? How sustainable are our cities? As the unprecedented Covid-19 situation evolves day-by-day, we all feel the effects. As investors we must navigate the immediate challenges, but we must also not lose sight of the long term. Ultimately, what matters most is identifying the investments that with both survive this period and thrive in the long term. Hannah Simons Head of Sustainability Strategy As we prepare the first report of 2020, I’m settling In the near term, we recognise that Covid-19 is putting into my new daily routine. My regular commute on a pressure on the profits of the car industry but new packed train has been replaced with a short walk to European emissions regulations look set to disrupt my kitchen table. A much welcomed change. I’m also things in the longer-term. Scott MacLennan, Fund home-schooling my children. I have often thought that Manager/Research Analyst European Equities and one day I would follow in Lucy Kellaway’s footsteps Nicholette MacDonald-Brown, Head of European Blend and retrain as a teacher. -
MSCI Small Cap Indexes List of Additions/Deletions
Geneva, May 12, 2020 MSCI GLOBAL SMALL CAP INDEXES The following are changes in constituents for the MSCI Global Small Cap Indexes which will take place as of the close of May 29, 2020. SUMMARY PER COUNTRY and PER REGION: Nb of Nb of Securities Securities Region Country Added Deleted Asia Pacific PAKISTAN 2 2 AUSTRALIA 14 13 JAPAN 42 37 HONG KONG 5 8 SINGAPORE 9 2 NEW ZEALAND 3 3 MALAYSIA 7 10 INDONESIA 10 14 PHILIPPINES 3 3 TAIWAN 13 3 KOREA 22 46 THAILAND 1 16 INDIA 18 54 CHINA 36 33 Nb of Nb of Securities Securities Region Country Added Deleted Europe, Middle East and Africa GREECE 4 0 UNITED ARAB EMIRATES1 3 QATAR 3 1 BELGIUM 0 2 SWITZERLAND 3 5 DENMARK 2 2 SPAIN 2 2 FRANCE 4 5 GERMANY 2 6 NETHERLANDS 2 2 ITALY 2 5 NORWAY 4 11 SWEDEN 13 9 UNITED KINGDOM 19 28 FINLAND 3 0 TURKEY 1 1 IRELAND 3 0 ISRAEL 7 1 SOUTH AFRICA 8 21 POLAND 5 2 CZECH REPUBLIC 0 1 RUSSIA 1 2 EGYPT 2 2 SAUDI ARABIA 2 1 Nb of Nb of Securities Securities Region Country Added Deleted Americas USA 133 134 CANADA 17 36 MEXICO 2 9 CHILE 1 2 BRAZIL 8 4 COLOMBIA 1 2 ARGENTINA 2 1 Page 1 MSCI Global Small Cap Indexes - May 12, 2020 © MSCI 2020, All rights reserved ASIA PACIFIC MSCI PAKISTAN INDEX Additions Deletions MARI PETROLEUM NISHAT MILLS PAKISTAN PETROLEUM SUI NORTH GAS PIPELINES MSCI AUSTRALIA INDEX Additions Deletions ALUMINA AFTERPAY AUB GROUP AMA GROUP BENDIGO & ADELAIDE BANK ARDENT LEISURE GROUP BORAL EVOLUTION MINING CHALLENGER FLEXIGROUP CHAMPION IRON GALAXY RESOURCES DATA 3 MYER HOLDINGS FLIGHT CENTRE TRAVEL GRP NAVIGATOR GLOBAL INV HARVEY NORMAN HOLDINGS NORTHERN -
UK Equity Capital Markets Update – Winter 2019
Stimulating hope Equity Capital Markets update Winter 2019 Financial Advisory This Equity Capital Markets update contains commentary on: recent UK stockmarket performance; levels of equity market issuance and macroeconomic considerations; how to select IPO advisers; and a case study of Deloitte’s involvement in the recent IPO of Helios Towers. Stimulating hope | Contents Contents Welcome 04 Market performance 06 UK IPOs in 2019 10 Equity issuance and macroeconomic considerations 12 ECM hot topic: Selecting IPO advisers 18 Case study: IPO of Helios Towers on London Stock Exchange 23 Deloitte Equity Capital Markets 26 About this report: This report contains data sourced from Deloitte’s Q3 2019 CFO Survey, Deloitte’s Autumn 2019 European CFO survey, FactSet, Dealogic, company admission documents, press releases and London Stock Exchange statistics. Unless stated otherwise, IPO and secondary fundraisings relate to completed transactions by companies admitted to either the Main Market or AIM and all market data is as at 14 November 2019. The issuance of GDRs and convertibles have also been excluded. All commentary is provided by Deloitte ECM Partners. © 2019 Deloitte LLP. All rights reserved. 3 Stimulating hope| Welcome Welcome to Deloitte’s 7th Equity Capital Markets update Amidst continuing uncertainty, global equity markets have delivered strong gains so far in 2019. US and certain European indices are currently trading at or around all-time highs, supported by more accommodative monetary policy and central bank adjustments in the face of economic data continuing to point to a deceleration in global economic growth. The FTSE 100 is 8.4% higher than at the start of this year and, while investors still await a final resolution of the UK’s exit from the EU, the more domestically focused FTSE 250 similarly has performed strongly in 2019. -
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 -
KPMG Equity Capital Markets H1 2019 Review
MARGIN MARGIN MARGIN CROP MARKS CROP MARGIN CROP MARKS CROP Equity Capital Markets H1 2019 review July 2019 kpmg.com/uk/equitycapitalmarkets CROP MARKS CROP MARGIN CROP MARKS CROP MARGIN MARGIN MARGIN MARGIN MARGIN MARGIN CROP MARKS CROP MARGIN CROP MARKS CROP £19.2 bn funds raised 5% on H1-18 22% on H2-18 £14.8 bn raised via further issues 7% on H1-18 42% on H2-18 £4.4 bn raised via IPOs 4% on H1-18 16% on H2-18 21 IPOs 49% on H1-18 43% on H2-18 UK equity capital markets exhibited resilience in spite of the continued presence of challenging macroeconomic and political conditions during H1 2019 CROP MARKS CROP MARGIN © 2019 KPMG LLP, a UK limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. CRO RKS MAR MARGIN MARGIN MARGIN MARGIN MARGIN CROP MARKS CROP MARGIN CROP MARKS CROP H1 2019 snapshot Total UK equity fundraising levels remained broadly consistent with recent periods, with placings rebounding from a relative downturn in H2 2018 UK equity issuances H1 2017 to H1 2019 Largest UK IPOs in H1 2019 Funds raised (£bn) 30 Network International Holdings plc £1,218m 25 23.6 20.2 20 19.2 17.5 15.7 Trainline plc £1,093m 15 10 Airtel Africa plc £541m 5 0 H1 H2 H1 H2 H1 2017 2017 2018 2018 2019 IPOs Rights issues Placings IPO numbers, particularly on AIM, remain low, however a number of significant Main Market IPOs in Q2 increased overall funds raised compared to H1 2018 Main Market AIM Funds raised Funds raised (£bn) No. -
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 -
Governance Report
Governance report In this section 82 Our Board of directors 86 Our Executive Committee 88 Chair’s introduction 90 Our leadership 97 Board evaluation 100 Audit and Risk Committee report 110 Nominations Committee report 115 Our compliance with the UK Corporate Governance Code 119 Directors’ report 123 Directors’ responsibilities statement 124 Directors’ remuneration report Airtel Africa plc Annual Report and Accounts 2021 81 © 2021 Friend Studio Ltd File name: BoardXandXExecXCommittee_v48 Modification Date: 26 May 2021 8:22 am Governance report Our Board of directors Sunil Bharti Mittal Raghunath Mandava Chair Chief executive officer N M Date appointed to Board: October 2018 Date appointed to Board: July 2018 Independent: no Independent: no Age: 63 Age: 54 Nationality: Indian Nationality: Indian Skills, expertise and contribution Skills, expertise and contribution Sunil is the founder and chairman of Bharti Enterprises, one of India’s leading Raghu has held a variety of sales, marketing, customer experience and general conglomerates with diversified interests in telecoms, insurance, real estate, management roles in the FMCG and telecoms industries. Raghu joined Airtel Africa agriculture and food, renewable energy and other ventures. Bharti Airtel, the flagship Group as chief operating officer in 2016 and took over as CEO in January 2017. company of Bharti Enterprises, is a global telecommunications company operating in To his role as CEO, he brings a deep understanding of telecoms and a strong belief 18 countries across South Asia and Africa. It’s one of the top three mobile operators that connectivity can accelerate growth by helping to bridge the digital divide and globally, with a network covering over two billion people.