- Glencore PLC cancels 100 million treasury shares to optimize share capital structure.
- Treasury shares reduced to 1,258,498,492, representing approximately 9.19% of total issued share capital.
- Cancellation aligns with Glencore’s commitment to maintain treasury shares below 10% and enhance transparency.
Glencore PLC has announced the cancellation of 100 million treasury shares as part of its ongoing efforts to maintain a balanced share structure. This strategic move aims to optimize the company’s share capital and enhance transparency. The cancellation took effect on June 19, 2023, aligning with Glencore’s commitment to maintaining its treasury shares below 10% of the total issued share capital.
Following the cancellation, Glencore now holds 1,258,498,492 ordinary shares in treasury, accounting for approximately 9.19% of the company’s total issued share capital. This decision was made in accordance with Listing Rule 12.6.4, ensuring compliance with regulatory requirements.
The cancellation details are as follows:
- Date of cancellation: June 19, 2023
- Number of treasury shares cancelled: 100,000,000
- Total number of issued ordinary shares after cancellation: 13,700,000,000
- Total number of treasury shares after cancellation: 1,258,498,492
- Total number of ordinary shares (excluding treasury shares): 12,441,501,508
By reducing the number of treasury shares, Glencore aims to optimize its share capital structure and maintain alignment with its strategic objectives. The move reflects the company’s commitment to maximizing shareholder value and ensuring efficient capital utilization.