Glencore PLC Repurchases Shares in Ongoing Buyback Program, Bolstering Treasury Holdings

  • Glencore PLC completes a transaction to repurchase 2,940,000 of its ordinary shares on the London Stock Exchange as part of its ongoing buyback program.
  • The lowest and highest prices paid per share were approximately R105.39 and R110.17, respectively, with a volume-weighted average price of approximately R108.61.
  • Following the repurchase, Glencore holds approximately 1,350,218,492 ordinary shares in treasury, while the total number of voting rights corresponds to the total number of ordinary shares issued.

Glencore PLC (JSE: GLN, LSE: GLEN) announced on today that it has completed a transaction to acquire a significant number of its ordinary shares on the London Stock Exchange (LSE). The shares were purchased from UBS AG, London Branch (UBS) as part of Glencore’s ongoing buyback program. The company aims to hold these repurchased shares in treasury.

On the 13th of June 2023, Glencore acquired a total of 2,940,000 ordinary shares with a nominal value of USD 0.01 each. The lowest price paid per share was approximately R105.39, while the highest price reached approximately R110.17, resulting in a volume-weighted average price per share of approximately R108.61.

With this recent transaction, Glencore now holds approximately 1,350,218,492 ordinary shares in treasury, while the total number of ordinary shares in circulation (excluding treasury shares) stands at 12,449,781,508. The total number of voting rights corresponds to the number of ordinary shares issued. Shareholders can use this figure to determine their obligations under the FCA’s Disclosure Guidance and Transparency Rules.

This share repurchase is part of the second phase of Glencore’s existing buyback program, which commenced in August 2022 and is expected to conclude in August 2023. The initial details of this buyback program were unveiled on 15th February 2023. The company intends to utilize the shares acquired through this program for various purposes, including employee share schemes and general corporate purposes.

Detailed information on the transaction reveals that the shares were traded across multiple venues. On the London Stock Exchange, the volume-weighted average price was approximately R103.39 for a total volume of 1,840,000 shares. Additionally, the shares were traded on BATS (400,000 shares at a volume-weighted average price of approximately R103.42), Chi-X (700,000 shares at a volume-weighted average price of approximately R103.40), and Aquis (no shares traded).

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