REG - Glencore PLC - Share buy-back programme

GlencoreAnnouncement

04/08/2022 09:00

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RNS Number : 9168U  Glencore PLC  04 August 2022

Glencore plc

Baar, Switzerland

4 August 2022

 

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 USD3 billion (the "Programme"), subject to market conditions, which may
continue until the 2022 full year results are announced in February 2023.

The Programme will be effected in accordance with the terms of the authority
granted by shareholders at the 2022 AGM and its 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 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 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. Through a network
of assets, customers and suppliers that spans the globe, we produce, process,
recycle, source, market and distribute the commodities that enable
decarbonisation while meeting the energy needs of today.

Glencore companies employ around 135,000 people, including contractors. With a
strong footprint in over 35 countries in both established and emerging regions
for natural resources, our marketing and industrial activities are supported
by a global network of more than 40 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.

Glencore recognises our responsibility to contribute to the global effort to
achieve the goals of the Paris Agreement. Our ambition is to be a net zero
total emissions company by 2050. In August 2021, we increased our medium-term
emission reduction target to a 50% reduction by 2035 on 2019 levels and
introduced a new short-term target of a 15% reduction by 2026 on 2019 levels.

linkedin.com/company/glencore

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instagram.com/glencoreplc

facebook.com/glencore

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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.

 

 

 

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