REG - Glencore PLC - 2025 Share buy-back programme

GlencoreAnnouncement

19/02/2025 07:00

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RNS Number : 5826X  Glencore PLC  19 February 2025

 

 

Glencore plc

Baar, Switzerland

19 February 2025

 

2025 Share buy-back programme

 

Glencore plc (the "Company") announces the commencement of a programme to make
market purchases of its ordinary shares (the "Shares") of an aggregate value
of up to USD 1 billion (the "Programme"), subject to market conditions, with
completion planned to be by 6 August 2025.

The Programme will be effected in accordance with the terms of the authority
granted by shareholders at the 2024 AGM, to acquire no more than 1,828,886,722
Shares and for the period from the date of the Company's AGM this year
(currently scheduled for 28 May) is subject to a new authority being granted
by shareholders at the AGM. The Programme's purpose is to reduce the capital
of the Company. It is currently intended that any Shares purchased will be
held in treasury.

The Company has entered into an agreement with Citigroup Global Markets
Limited (the "Bank") to initially 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 9 of the UK 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 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

 

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 commodities that
advance everyday life. Through a network of assets, customers and suppliers
that spans the globe, we produce, process, recycle, source, market and
distribute the commodities that support decarbonisation while meeting the
energy needs of today.

 

With over 150,000 employees and contractors and a strong footprint in over 30
countries in both established and emerging regions for natural resources, our
marketing and industrial activities are supported by a global network of more
than 50 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 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.

 

We will support the global effort to achieve the goals of the Paris Agreement
through our efforts to decarbonise our own operational footprint. For more
information see our 2024-2026 Climate Action Transition Plan, available on our
website at glencore.com/publications.

 

linkedin.com/company/glencore

x.com/glencore

instagram.com/glencoreplc

facebook.com/glencore

youtube.com/glencorevideos

 

Important Information

This material does not purport to contain all of the information you may wish
to consider. For further important information, including in connection with
forward-looking statements and other cautionary information, refer to the
Important notice section of Glencore's 2024 Half Year Report, which is
available at glencore.com/publications. This document does not constitute or
form part of any offer or invitation to sell or issue, or any solicitation of
any offer to purchase or subscribe for any securities.

 

Other information
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.

 

 

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