REG - Glencore PLC - General Meeting results

GlencoreAnnouncement

05/08/2025 16:30

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RNS Number : 0940U  Glencore PLC  05 August 2025

 

Glencore plc

Baar, Switzerland

5 August 2025

 

Resolution passed at General Meeting and commencement of off-market share
buy-backs

 

Glencore plc announces that the following resolution was passed as a special
resolution at today's General Meeting:

In summary:

a) the buyback contract (the Contract) entered into between the Company and
UBS AG (UBS) be and is hereby approved, and the Company be and is hereby
authorised to undertake purchases of its ordinary shares otherwise than on a
stock exchange; and

b) the Board of Directors be and is hereby authorised on behalf of the Company
to agree non-material amendments to the Contract, whether before or after the
General Meeting.

The result of the poll was:

 VOTES FOR      %       VOTES AGAINST  %      VOTES TOTAL    % OF SHARES VOTED*  VOTES WITHHELD
 8,764,964,935  98.43%  140,256,702    1.57%  8,905,221,637  74.75%              302,391

*Total voting rights of the Company's ordinary shares (Shares) in issue,
excluding 1,311,309,041 held in treasury.

On 7 July 2025, the Company announced the commencement of a programme to make
purchases of its Shares of an aggregate value of up to USD 1 billion, subject
to market conditions, with completion planned to be by the time of release of
its financial results for the 2025 year in February 2026. Since the
commencement of this programme, the Company has completed market purchases of
its Shares of an aggregate value of approximately USD 78,780,000, resulting in
up to approximately USD 921,220,000 of purchases remaining under the programme
as at close of dealings yesterday. It is intended that on-market purchases of
Shares will continue under the programme up to and including this Friday, 8
August.

Following the approval of the Contract with UBS at the General Meeting, it is
intended that UBS will commence buying Shares from next Monday, 11 August 2025
for the purpose of selling Shares weekly to the Company on an off-market basis
pursuant to the Contract. These transactions are expected to continue in
respect of the balance under the programme at that time. All Shares purchased
under the Contract will be cancelled upon settlement. The programme will
continue to be effected in accordance with the terms of the authorities
granted by shareholders at the 2025 AGM and the General Meeting.

Under the Contract, UBS may make trading decisions in accordance with the
directions of the Company. If the Company is unable to do so, UBS is mandated
to make trading decisions concerning purchases under the Contract
independently of the Company. UBS may undertake transactions in the Shares
(which may include sales as well as purchases and may include participating in
block purchases) in order to meet its obligations pursuant to the Contract.
The market will be notified following each purchase by the Company of Shares
from the Bank under the Contract, which is expected to occur weekly for the
duration of the programme.

 

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

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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 Annual 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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