5th August Good / Great news17 Jul 2025 11:39
Glencore plc (the "Company") releases today a Notice of General Meeting, which will be held on 5 August 2025 at 4 p.m. Central European Summer Time at Theater-Casino Zug, Artherstrasse 2-4, Zug, Switzerland for the purpose of proposing that the Company be authorised to make off-market purchases of its shares.
As referenced in the Company's announcement on 7 July 2025 on the launch of its 2025/2026 share buy-back programme (the "Current Programme"), the Company has been progressing alternative buy-back programme structures to preserve its Swiss capital contribution reserves and mitigate the future effect of Swiss withholding tax charges on share buy-backs as many Swiss companies are able to do. Following receipt of the required clearances from the Swiss Federal Tax Administration, the Company has now finalised its proposed alternative share buy-back structure and has concluded a contract today with UBS AG (UBS). Under this contract, UBS would make purchases of the Company's shares in the market, and the Company would then make off-market purchases of those shares from UBS for cancellation.