Glencore PLC (GLEN)
Posted: February 24th, 2023, 7:19 am
Share buy-back programme.
https://www.investegate.co.uk/glencore- ... 00049153Q/
Ian (No holding).
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 USD1.5 billion (the "Programme"), subject to market conditions, with intended completion by the time of the Group's interim results announcement in August 2023.
The Programme will be effected in accordance with the terms of the authority granted by shareholders at the 2022 AGM and, subject to shareholder approval at the 2023 AGM, will continue on the terms of the renewed authority. The Programme's 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 UBS AG, London Branch (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.
https://www.investegate.co.uk/glencore- ... 00049153Q/
Ian (No holding).