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GLENCORE PLC - GLN - Glencore completes acquisition of voting shares of Volcan Compaia Minera S.A.A.

Release Date: 13/11/2017 09:00
Code(s): GLN     PDF:  
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GLN - Glencore completes acquisition of voting shares of Volcan Compañia Minera S.A.A.

Glencore plc
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
HKSE Share Code: 805HK
ISIN: JE00B4T3BW64

Baar, Switzerland
13 November, 2017

Glencore completes acquisition of voting shares of Volcan Compañia Minera S.A.A.

Glencore refers to its announcement of 3 October 2017, in which it announced that it intended to make an
offer to all of Volcan’s shareholders via a public tender offer or oferta pública de adquisición de acciones
subject to the laws and regulations of the Republic of Peru for up to 48.19% of the total class A common
shares of Volcan at an offer consideration of US$1.215 per class A common share (“Offer”).

The Offer has now closed. Shareholders have accepted the Offer in respect of 603 million class A
common shares representing 36.92% of the class A common shares

Glencore now holds 55.03% of the total class A common shares (62.96% of the class A common shares
excluding treasury shares) and will have an economic interest in Volcan of 23.29% (including the class B
common shares and excluding treasury shares).

The aggregate consideration payable by Glencore pursuant to the terms of the Offer is US$734 million.

For further information please contact:
Investors
Martin Fewings               t: +41 41 709 2880      m: +41 79 737 5642       martin.fewings@glencore.com
Ash Lazenby                  t: +41 41 709 2714      m: +41 79 543 3804       ash.lazenby@glencore.com

Media
Charles Watenphul            t: +41 41 709 2462      m: +41 79 904 3320       charles.watenphul@glencore.com

www.glencore.com

Additional information

Volcan

Volcan is a polymetallic mining company incorporated under the laws of Peru and is a significant producer
of zinc, lead and silver.

Volcan began operations in 1943 at the heights of the Ticlio Pass. All operations are located in the central
mountains of the Peruvian Andes and include the operating units, Yauli, Chungar, Alpamarca and Cerro
de Pasco. These four operating units include a total of 10 mines, seven concentrator plants and one
oxides leaching plant.

The gross assets of Volcan, as shown in Volcan’s latest published audited accounts for the year ended 31
December 2016, are US$2,685 billion. The profits attributable to Volcan (being profits before tax), as
shown in Volcan’s latest published audited accounts for the year ended 31 December 2016, are US$133
million.
                                                                                                    Page 2
Volcan’s assets are located in the richest polymetallic production area in Peru.

Volcan has two classes of shares class A common shares (voting shares) and class B common shares
(non-voting shares). The class A common shares represent 40.07% of the total number of shares. Volcan
currently hold in treasury 206 million class A common shares (representing 12.60% of the total issued
class A share capital including treasury shares) and 12 million class B common shares (representing
0.50% of the total issued class B share capital including treasury shares) via wholly-owned subsidiaries.

Glencore

Glencore is one of the world’s largest global diversified natural resource companies and a major producer
and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and
metallurgical sites, oil production assets and agricultural facilities.

With a strong footprint in both established and emerging regions for natural resources, Glencore's
industrial and marketing activities are supported by a global network of more than 90 offices located in
over 50 countries.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation,
oil and food processing sectors. We also provide financing, logistics and other services to producers and
consumers of commodities. Glencore's companies employ around 155,000 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.

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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 Bank Limited (acting through its Corporate and Investment Banking Division)

Date: 13/11/2017 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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