Glencore Repurchases 8.02 Billion Shares through UBS Deal

Glencore plc's recent strategic move to repurchase 8,022,682 of its ordinary shares from UBS AG has been seen as a significant development in the company's ongoing share buyback program. The transaction, executed on August 29, 2025, at a gross price per share of CHF 3.1665, has contributed to a reduction in the company's total shares in issue. The repurchased shares are earmarked for cancellation, effectively altering Glencore's capital structure and aligning with shareholder interests.

Key Takeaways:

• Glencore repurchased 8,022,682 ordinary shares from UBS AG at a gross price per share of CHF 3.1665.
• The transaction was executed on August 29, 2025, as part of Glencore's ongoing share buyback program.
• The repurchased shares are earmarked for cancellation, reducing Glencore's total shares in issue.
• The net price per share was CHF 2.0582 after accounting for a 35% Swiss withholding tax.
• Glencore will have 11.88 billion shares in issue, excluding those held in treasury (1.27 billion shares).
• The repurchase is part of Glencore's buyback initiative that commenced on July 7, 2025, and aims to be completed by February 2026, coinciding with the release of its 2025 financial results.
• The transaction is in compliance with the Market Abuse Regulation and is conducted under a general authority agreement with UBS established on July 17, 2025.

Statistics:

• 8,022,682 shares repurchased from UBS AG.
• CHF 3.1665 (gross price per share).
• CHF 2.0582 (net price per share after 35% Swiss withholding tax).
• 11.88 billion shares in issue (excluding treasury shares).
• 1.27 billion shares held in treasury.
• July 7, 2025 (commencement of buyback initiative).
• February 2026 (target completion date for buyback initiative).

Sources:

• Glencore plc announcement (no date mentioned).
• Johannesburg Stock Exchange (JSE) information (no date mentioned).