22nd Jan 2026 11:47
FORM 8.5 (EPT/NON-RI)
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN
EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS (OR WHERE RI STATUS IS NOT APPLICABLE)
Rule 8.5 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Name of exempt principal trader: | J.P. Morgan Equities South Africa Proprietary Limited |
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | Glencore plc |
(c) Name of the party to the offer with which exempt principal trader is connected: | Corporate Broker to Rio Tinto plc and Rio Tinto Limited |
(d) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure | 21 January 2026 |
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A" | Yes, Rio Tinto plc and Rio Tinto Limited |
2. POSITIONS OF THE EXEMPT PRINCIPAL TRADER
If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.
(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)
Class of relevant security:
| Ordinary NPV | |||
| Interests | Short positions | ||
Number | % | Number | % | |
(1) Relevant securities owned and/or controlled: | 4,125,793 | 0.04 | 2,425,960 | 0.02 |
(2) Cash-settled derivatives:
| 1,415,811 | 0.01 | 3,875,674 | 0.03 |
(3) Stock-settled derivatives (including options) and agreements to purchase/sell: | 0 | 0.00 | 0 | 0.00 |
TOTAL: | 5,541,604 | 0.05 | 6,301,634 | 0.05 |
All interests and all short positions should be disclosed.
Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).
(b) Rights to subscribe for new securities (including directors' and other employee options)
Class of relevant security in relation to which subscription right exists: |
|
Details, including nature of the rights concerned and relevant percentages: |
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3. DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.
The currency of all prices and other monetary amounts should be stated.
(a) Purchases and sales
Class of relevant security | Purchases/ sales
| Total number of securities | Highest price per unit paid/received | Lowest price per unit paid/received |
Ordinary NPV | Purchase | 4,973,206 | 109.9800 ZAR | 106.0700 ZAR |
2,993,367 | 4.9861 GBP | 4.9861 GBP | ||
| Sale | 5,111,858 | 109.9387 ZAR | 106.0700 ZAR | |
2,993,367 | 4.9861 GBP | 4.9861 GBP |
(b) Cash-settled derivative transactions
Class of relevant security | Product description e.g. CFD | Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position | Number of reference securities | Price per unit |
Ordinary NPV | Equity Swap | Decrease Long | 10,313 | 106.7162 ZAR |
8,642 | 107.0275 ZAR | |||
7,040 | 109.0093 ZAR | |||
1,715 | 109.2638 ZAR | |||
76 | 109.3100 ZAR | |||
19,065 | 109.4576 ZAR | |||
2,557 | 109.4960 ZAR | |||
4,692 | 109.5053 ZAR | |||
1,340 | 109.7288 ZAR | |||
166 | 109.7300 ZAR | |||
Decrease Short | 15,930 | 108.7653 ZAR | ||
3,669 | 109.2747 ZAR | |||
4,204 | 109.2901 ZAR | |||
Increase Long | 2,503 | 107.5142 ZAR | ||
11,953 | 107.8162 ZAR | |||
2,302 | 108.2034 ZAR | |||
912 | 108.2931 ZAR | |||
12,212 | 109.0164 ZAR | |||
1,300 | 109.1945 ZAR | |||
4,408 | 109.2225 ZAR | |||
11,347 | 109.2553 ZAR | |||
2,560 | 109.3949 ZAR | |||
4,133 | 109.4027 ZAR | |||
2,178 | 109.4336 ZAR | |||
1,788 | 109.4500 ZAR | |||
38 | 109.4800 ZAR | |||
2,362 | 109.5124 ZAR | |||
730 | 109.5523 ZAR | |||
4,131 | 109.5892 ZAR | |||
3,093 | 109.6637 ZAR | |||
715 | 109.8219 ZAR | |||
308 | 109.8275 ZAR | |||
5,364 | 109.8565 ZAR | |||
4,667 | 109.9387 ZAR | |||
Increase Short | 15,276 | 109.1603 ZAR | ||
266 | 109.3100 ZAR | |||
8,916 | 109.3972 ZAR |
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
Class of relevant security | Product description e.g. call option | Writing, purchasing, selling, varying etc. | Number of securities to which option relates | Exercise price per unit | Type e.g. American, European etc. | Expiry date | Option money paid/ received per unit |
(ii) Exercise
Class of relevant security | Product description e.g. call option | Exercising/ exercised against | Number of securities | Exercise price per unit |
(d) Other dealings (including subscribing for new securities)
Class of relevant security | Nature of dealing e.g. subscription, conversion | Details | Price per unit (if applicable) |
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4. OTHER INFORMATION
(a) Indemnity and other dealing arrangements
Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none" |
None
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(b) Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none" |
None
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(c) Attachments
Is a Supplemental Form 8 (Open Positions) attached? | NO |
| Date of disclosure: | 22 January 2026 |
| Contact name: | Hetvi Shah |
| Telephone number: | 44 2034 936359 |
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.
Related Shares:
Glencore