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GLN: Share Buy-Back Programme.
GLENCORE PLC
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
ISIN: JE00B4T3BW64
LEI: 2138002658CPO9NBH955
Baar, Switzerland / Sydney, Australia
21 February 2022
Share buy-back programme
As noted in the 2021 preliminary results released on 15 February 2022,
Glencore plc (the “Company”) announces that, today, it commences a share
repurchase or buy-back programme of USD550 million (the “Programme”) until
the interim results are published in August 2022. The Programme will be
effected in accordance with the terms of the authority granted by
shareholders at the 2021 AGM and, subject to shareholder approval at the 2022
AGM, will continue on the terms of the renewed authority.
The Programme’s purpose is to reduce the capital of the Company and it is
currently intended that any ordinary shares of the Company (the “Shares”)
purchased will be held in treasury.
The Company has entered into an agreement with Morgan Stanley & Co.
International Plc (the “Bank”) to conduct the Programme, under which trading
decisions may be undertaken by the Bank in accordance with the directions of
the Company. If the Company is unable to do so, the Bank is mandated to make
trading decisions concerning purchases under the Programme independently of
the Company.
The Bank may undertake transactions in the Shares (which may include sales as
well as purchases and may include participation in block purchases) in order
to meet its obligations pursuant to its agreement with the Company.
The implementation of the Programme is in line with the Company’s stated
financial policies and thresholds.
Any buy-back of the Shares pursuant to the Programme will be effected in
accordance with Chapter 12 of the FCA Listing Rules, the EU Market Abuse
Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052
(which are part of UK law by virtue of the European Union (Withdrawal) Act
2018).
The market will be notified in accordance with those rules if and when
purchases are made.
For further information please contact:
Investors
Martin Fewings t: +41 41 709 28 m: +41 79 737 56 martin.fewings@glencore.com
80 42
Media
Charles Watenphul t: +41 41 709 24 m: +41 79 904 33 charles.watenphul@glencore.com
62 20
Company Secretarial
Follow us on social media:
John Burton t: +41 41 709 26 m: +41 79 944 54 john.burton@glencore.com
Nicola Leigh 19 +41 41 709 27
t: 34 +41 79 735 39
m: nicola.leigh@glencore.com
Lionel Mateo 55 +41 41 709 28
t: 16 +41 79 152 09
m: lionel.mateo@glencore.com
47 05
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 responsibly-sourced commodities that
advance everyday life. The Group's operations comprise around 150 mining and
metallurgical sites and oil production assets.
With a strong footprint in over 35 countries in both established and emerging regions
for natural resources, Glencore's industrial activities are supported by a global network
of more than 30 marketing 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's companies employ around 135,000 people, including
contractors.
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. Our ambition is to be a net zero
total emissions company by 2050.
www.facebook.com/Glencore
www.flickr.com/photos/glencore
www.instagram.com/glencoreplc
www.linkedin.com/company/8518
www.slideshare.net/glencore
www.twitter.com/glencore
www.youtube.com/glencorevideos
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.
Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited
Date: 21-02-2022 05:10:00
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