Glencore PLC Share buy-back programme (9168U)
04 Agosto 2022 - 9:50AM
UK Regulatory
TIDMGLEN
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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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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