Company Announcements

Share buy-back programme

Source: RNS
RNS Number : 2199J
Glencore PLC
19 August 2021
 

Glencore plc

Baar, Switzerland

19 August 2021

 

Share buy-back programme

 

As announced on 5 August 2021, Glencore plc (the "Company") will commence a share repurchase or buy-back programme of up to USD650 million (the "Programme"), which may continue until the 2021 full year results are announced in February 2022.

The Programme will be effected in accordance with the terms of the authority granted by shareholders at the 2021 AGM and its purpose is to reduce the capital of the Company. 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 Citigroup Global Markets Limited (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 80

m: +41 79 737 56 42

martin.fewings@glencore.com

Media

Charles Watenphul

t: +41 41 709 24 62

m: +41 79 904 33 20

charles.watenphul@glencore.com

Company Secretarial

John Burton

t: +41 41 709 26 19

m: +41 79 944 54 34

john.burton@glencore.com

Nicola Leigh

t: +41 41 709 27 55

m: +41 79 735 39 16

nicola.leigh@glencore.com

Lionel Mateo

t: +41 41 709 28 47

m: +41 79 152 09 05

lionel.mateo@glencore.com

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.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
POSKZGMRFLLGMZM
image