Glencore plc (GLN: JSE, GLEN: LSE) revealed on 21 June 2023 that it has successfully acquired a significant number of its ordinary shares on the London Stock Exchange as part of its ongoing buyback program. The purchases were executed by UBS AG, London Branch (UBS) on behalf of Glencore.
The buyback transaction, which took place on 20 June 2023, involved Glencore purchasing 2,940,000 of its ordinary shares, each valued at USD 0.01. The lowest price paid per share stood at £4.4710 (approximately R106.98), while the highest price reached £4.5775 (approximately R109.53). The volume-weighted average price per share was £4.5023 (approximately R107.82).
As per the announcement, Glencore will retain these repurchased shares in its treasury. With this latest acquisition, the company’s treasury holdings now amount to 1,264,198,492 ordinary shares. However, Glencore still has 12,435,801,508 ordinary shares in issue, excluding treasury shares. This figure corresponds to the total number of voting rights held by shareholders.
Shareholders are urged to use the aforementioned total voting rights figure as the denominator for any calculations that determine their obligation to disclose their interest in Glencore or any changes thereof, under the FCA’s Disclosure Guidance and Transparency Rules.
The share purchases unveiled in this announcement constitute the second phase of Glencore’s ongoing buyback program, slated for completion in August 2023. Full details of this program were initially disclosed on 15 February 2023.
Aggregate Information: The following table provides an overview of the transaction’s aggregated information:
Trading Venue Volume Weighted Average Price Aggregated Volume London Stock Exchange £4.4994 (approximately R107.41) 1,940,000 BATS £4.5078 (approximately R107.64) 350,000 Chi-X £4.5080 (approximately R107.66) 650,000 Aquis £0.0000 (approximately R0.00) 0
Transaction Details: As per Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the table below provides comprehensive information about the individual trades conducted by UBS on behalf of Glencore as part of the buyback program.
Schedule of Purchases: Shares Purchased: Glencore plc (ISIN: JE00B4T3BW64) Date of Purchases: 20 June 2023 Investment Firm: UBS AG, London Branch
Glencore’s buyback program underscores the company’s commitment to enhancing shareholder value and capital efficiency. With the acquisition of its own shares, Glencore aims to optimize its capital structure and allocate surplus funds effectively.