Glencore PLC disclosed on 29 June 2023 that it has successfully acquired a significant number of its ordinary shares on the London Stock Exchange. The purchase was executed through UBS AG, London Branch (UBS) as part of Glencore’s ongoing buy-back program.
Glencore bought some of its ordinary shares, each with a nominal value of USD 0.01. The transactions took place on 28 June 2023, with prices ranging from £4.3085 to £4.4035 per share. The volume-weighted average price per share was recorded at £4.3634. To provide the value in South African Rand (ZAR), using the current conversion rate of £1 = R23.90, the prices range from approximately R103.15 to R105.32 per share, and the volume-weighted average price equates to approximately R104.27.
The repurchased shares will be held in Glencore’s treasury, bringing the total number of ordinary shares held by the company in treasury to 1,281,838,492. Excluding the treasury shares, the company has 12,418,161,508 ordinary shares in issue, representing the total number of voting rights.
Shareholders can utilize the figure for the total number of voting rights as the denominator for calculations to determine whether they need to disclose any interest in, or changes to their interest in, Glencore PLC under the Disclosure Guidance and Transparency Rules established by the Financial Conduct Authority (FCA).
These recent share purchases form part of the second phase of Glencore’s existing buy-back program, which is expected to conclude in August 2023. Detailed information about the buy-back program was previously announced on 15 February 2023.
In terms of aggregated information, the transactions were executed across various trading venues. On the London Stock Exchange, the volume-weighted average price was £4.3622 per share for a total of 1,940,000 shares. On BATS, the average price was £4.3659 per share for 350,000 shares, while on Chi-X, the average price amounted to £4.3656 per share for 650,000 shares. No transactions were reported on Aquis.