Treasury shares cancelled21 Oct 2022 08:14
Missed this rns the other day, seems Glen want to knock the treasury shares % right down after all the buybacks. 500 million shares cancelled. Personally, im liking it.
Fri, 14th Oct 2022 12:11
RNS Number : 9733C
Glencore PLC
14 October 2022
Glencore plc
Baar, Switzerland
14 October 2022
Cancellation of treasury shares
As the Company's cumulative treasury shares have been building up from its various buyback programmes, it is adopting a policy to reduce and maintain their numbers below 10% of total issued share capital from time to time. Accordingly, the Company announces today the cancellation of 500 million treasury shares.
The Company furthermore announces the transfer of 50 million treasury shares, for nil consideration, to the Company's employee benefit trust (EBT) to satisfy potential awards under the Company's employee share schemes.
Following these actions, as of opening of dealings today, the total number of ordinary shares in treasury was 1,088,074,958, representing approximately 8.4% of the Company's total issued share capital.