Wrap Text
Resolution passed at General Meeting and
commencement of off-market share buy-backs
Glencore plc
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
ISIN: JE00B4T3BW64
LEI: 2138002658CPO9NBH955
Baar, Switzerland
5 August 2025
Resolution passed at General Meeting and
commencement of off-market share buy-backs
Glencore plc announces that the following resolution was passed as a special resolution
at today's General Meeting:
In summary:
a) the buyback contract (the Contract) entered into between the Company and UBS AG
(UBS) be and is hereby approved, and the Company be and is hereby authorised to
undertake purchases of its ordinary shares otherwise than on a stock exchange; and
b) the Board of Directors be and is hereby authorised on behalf of the Company to agree
non-material amendments to the Contract, whether before or after the General
Meeting.
The result of the poll was:
VOTES FOR % VOTES % VOTES % OF VOTES
AGAINST TOTAL SHARES WITHHELD
VOTED*
8,764,964,935 98.43% 140,256,702 1.57% 8,905,221,637 74.75% 302,391
*Total voting rights of the Company's ordinary shares (Shares) in issue, excluding
1,311,309,041 held in treasury.
On 7 July 2025, the Company announced the commencement of a programme to make
purchases of its Shares of an aggregate value of up to USD 1 billion, subject to market
conditions, with completion planned to be by the time of release of its financial results
for the 2025 year in February 2026. Since the commencement of this programme, the
Company has completed market purchases of its Shares of an aggregate value of
approximately USD 78,780,000, resulting in up to approximately USD 921,220,000 of
purchases remaining under the programme as at close of dealings yesterday. It is
intended that on-market purchases of Shares will continue under the programme up to
and including this Friday, 8 August.
Following the approval of the Contract with UBS at the General Meeting, it is intended
that UBS will commence buying Shares from next Monday, 11 August 2025 for the
purpose of selling Shares weekly to the Company on an off-market basis pursuant to the
Contract. These transactions are expected to continue in respect of the balance under
the programme at that time. All Shares purchased under the Contract will be cancelled
upon settlement. The programme will continue to be effected in accordance with the
terms of the authorities granted by shareholders at the 2025 AGM and the General
Meeting.
Under the Contract, UBS may make trading decisions in accordance with the directions
of the Company. If the Company is unable to do so, UBS is mandated to make trading
decisions concerning purchases under the Contract independently of the Company.
UBS may undertake transactions in the Shares (which may include sales as well as
purchases and may include participating in block purchases) in order to meet its
obligations pursuant to the Contract. The market will be notified following each
purchase by the Company of Shares from the Bank under the Contract, which is
expected to occur weekly for the duration of the programme.
For further information please contact:
Investors
Martin Fewings t: +41 41 709 28 80 m: +41 79 737 56 42 martin.fewings@glencore.com
Media
Charles Watenphul t: +41 41 709 24 62 m: +41 79 904 33 20 charles.watenphul@glencore.com
Company Secretarial
John Burton t: +41 41 709 26 19 m: +41 79 944 54 34 john.burton@glencore.com
www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified natural resource companies and a major producer
and marketer of more than 60 commodities that advance everyday life. Through a network of assets,
customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute
the commodities that support decarbonisation while meeting the energy needs of today.
With over 150,000 employees and Contractors and a strong footprint in over 30 countries in both
established and emerging regions for natural resources, our marketing and industrial activities are
supported by a global network of more than 50 offices.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation,
battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers
and consumers of commodities.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the
International Council on Mining and Metals. We are an active participant in the Extractive Industries
Transparency Initiative.
We will support the global effort to achieve the goals of the Paris Agreement through our efforts to
decarbonise our own operational footprint. For more information see our 2024-2026 Climate Action
Transition Plan, available on our website at glencore.com/publications.
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Important Information
This material does not purport to contain all of the information you may wish to consider. For further important
information, including in connection with forward-looking statements and other cautionary information, refer to the
Important notice section of Glencore's 2024 Annual Report, which is available at glencore.com/publications. This
document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to
purchase or subscribe for any securities.
Other information
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this
document, "Glencore", "Glencore group" and "Group" are used for convenience only where references are made to
Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not
imply any other relationship between the companies. Likewise, the words "we", "us" and "our" are also used to refer
collectively to members of the Group or to those who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or companies.
Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited
Date: 05-08-2025 05:30:00
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