27th Jan 2026 11:58
FORM 8.5 (EPT/RI)
PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
Rule 8.5 of the Takeover Code (the Code)
1. KEY INFORMATION
(a) Name of exempt principal trader: | UBS Investment Bank, London |
(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: | Rio Tinto plc |
(d) Date dealing undertaken: | 26 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 this offer? If it is a cash offer or possible cash offer, state "N/A" | YES
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2. DEALINGS 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 2(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 | Buy
| 10461366 | 5.06000 GBP | 3.58930 GBP |
Ordinary NPV | Sell
| 5442161 | 5.06000 GBP | 4.98954 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 | CFD
| Long | 1120 | 5.026 GBP |
Ordinary NPV | CFD
| Long | 698 | 5.0455 GBP |
Ordinary NPV | CFD
| Long | 904 | 5.036 GBP |
Ordinary NPV | CFD
| Long | 548 | 5.0355 GBP |
Ordinary NPV | CFD
| Long | 332 | 5.0195 GBP |
Ordinary NPV | CFD
| Long | 307 | 5.0435 GBP |
Ordinary NPV | CFD
| Long | 382 | 5.0345 GBP |
Ordinary NPV | CFD
| Long | 132 | 5.04 GBP |
Ordinary NPV | CFD
| Long | 537 | 5.052 GBP |
Ordinary NPV | CFD
| Long | 422 | 5.0325 GBP |
Ordinary NPV | CFD
| Long | 1040 | 5.039 GBP |
Ordinary NPV | CFD
| Long | 760 | 5.037 GBP |
Ordinary NPV | CFD
| Long | 827 | 5.038 GBP |
Ordinary NPV | CFD
| Long | 100 | 5.0385 GBP |
Ordinary NPV | CFD
| Long | 315 | 5.0485 GBP |
Ordinary NPV | CFD
| Long | 305 | 5.0515 GBP |
Ordinary NPV | CFD
| Long | 800548 | 5.003802 GBP |
Ordinary NPV | CFD
| Long | 7279 | 5.020898 GBP |
Ordinary NPV | CFD
| Long | 3847 | 4.99239927 GBP |
Ordinary NPV | CFD
| Long | 3188 | 5.007255 GBP |
Ordinary NPV | CFD
| Long | 1693 | 5.002433 GBP |
Ordinary NPV | CFD
| Long | 961 | 5.035796 GBP |
Ordinary NPV | CFD
| Long | 1628 | 5.012216 GBP |
Ordinary NPV | CFD
| Long | 196300 | 5.01589556800815 GBP |
Ordinary NPV | CFD
| Long | 116200 | 5.00425662648193 GBP |
Ordinary NPV | CFD
| Long | 168 | 5.0610119047619 GBP |
Ordinary NPV | CFD
| Long | 4 | 5.0075 GBP |
Ordinary NPV | CFD
| Long | 1365 | 5.06100366300366 GBP |
Ordinary NPV | CFD
| Long | 330 | 5.008 GBP |
Ordinary NPV | CFD
| Long | 341 | 5.06099706744868 GBP |
Ordinary NPV | CFD
| Long | 1 | 5.01 GBP |
Ordinary NPV | CFD
| Long | 946 | 5.06100422832981 GBP |
Ordinary NPV | CFD
| Long | 141 | 5.00801418439716 GBP |
Ordinary NPV | CFD
| Long | 39 | 5.00897435897436 GBP |
Ordinary NPV | CFD
| Long | 2036 | 5.06100196463654 GBP |
Ordinary NPV | CFD
| Long | 85 | 5.00905882352941 GBP |
Ordinary NPV | CFD
| Long | 1012 | 109.791 ZAR |
Ordinary NPV | CFD
| Long | 13713 | 5.0133 GBP |
Ordinary NPV | CFD
| Long | 75483 | 5.001 GBP |
Ordinary NPV | CFD
| Long | 140352 | 5.02005038 GBP |
Ordinary NPV | CFD
| Long | 1194 | 109.88929648 ZAR |
Ordinary NPV | CFD
| Long | 676 | 5.06100591715976 GBP |
Ordinary NPV | CFD
| Long | 258 | 5.03399224806202 GBP |
Ordinary NPV | CFD
| Long | 163 | 5.0079754601227 GBP |
Ordinary NPV | CFD
| Long | 45 | 5.00911111111111 GBP |
Ordinary NPV | CFD
| Long | 350 | 5.061 GBP |
Ordinary NPV | CFD
| Long | 56 | 5.00803571428571 GBP |
Ordinary NPV | CFD
| Long | 15 | 5.00933333333333 GBP |
Ordinary NPV | CFD
| Long | 19667 | 109.9907 ZAR |
Ordinary NPV | CFD
| Long | 33609 | 109.95846856 ZAR |
Ordinary NPV | CFD
| Long | 10128 | 110.4157 ZAR |
Ordinary NPV | CFD
| Long | 327 | 109.5716 ZAR |
Ordinary NPV | CFD
| Long | 121049 | 109.79237003 ZAR |
Ordinary NPV | CFD
| Long | 355 | 110.095 ZAR |
Ordinary NPV | CFD
| Long | 85001 | 110.4143 ZAR |
Ordinary NPV | CFD
| Long | 149315 | 5.017238 GBP |
Ordinary NPV | CFD
| Long | 24781 | 5.0150005 GBP |
Ordinary NPV | CFD
| Long | 40870 | 110.20858356 ZAR |
Ordinary NPV | CFD
| Long | 339 | 5.0335 GBP |
Ordinary NPV | CFD
| Long | 811 | 5.027 GBP |
Ordinary NPV | CFD
| Long | 520 | 5.016 GBP |
Ordinary NPV | CFD
| Long | 5732 | 5.011 GBP |
Ordinary NPV | CFD
| Long | 3454 | 5.015 GBP |
Ordinary NPV | CFD
| Long | 454 | 5.048 GBP |
Ordinary NPV | CFD
| Short | 1576 | 5.0095 GBP |
Ordinary NPV | CFD
| Short | 355 | 110.095 ZAR |
Ordinary NPV | CFD
| Short | 744 | 5.008 GBP |
Ordinary NPV | CFD
| Short | 3253 | 4.9895 GBP |
Ordinary NPV | CFD
| Short | 22082 | 5.0045 GBP |
Ordinary NPV | CFD
| Short | 5795 | 4.9925 GBP |
Ordinary NPV | CFD
| Short | 16001 | 5.013529 GBP |
Ordinary NPV | CFD
| Short | 4262650 | 5.0 GBP |
Ordinary NPV | CFD
| Short | 33609 | 109.95846856 ZAR |
Ordinary NPV | CFD
| Short | 19667 | 109.9907 ZAR |
Ordinary NPV | CFD
| Short | 10128 | 110.4157 ZAR |
Ordinary NPV | CFD
| Short | 327 | 109.5716 ZAR |
Ordinary NPV | CFD
| Short | 2202932 | 5.001 GBP |
Ordinary NPV | CFD
| Short | 215597 | 6.87233974 USD |
Ordinary NPV | CFD
| Short | 3783 | 5.016871 GBP |
Ordinary NPV | CFD
| Short | 11396 | 5.00990464734995 GBP |
Ordinary NPV | CFD
| Short | 859 | 5.015884 GBP |
Ordinary NPV | CFD
| Short | 1012 | 109.791 ZAR |
Ordinary NPV | CFD
| Short | 1194 | 109.88929648 ZAR |
Ordinary NPV | CFD
| Short | 40870 | 110.20858356 ZAR |
Ordinary NPV | CFD
| Short | 85001 | 110.414259 ZAR |
Ordinary NPV | CFD
| Short | 1373 | 5.013916 GBP |
Ordinary NPV | CFD
| Short | 196 | 5.0150005 GBP |
Ordinary NPV | CFD
| Short | 5025 | 5.02703003493731 GBP |
Ordinary NPV | CFD
| Short | 76641 | 5.00140008 GBP |
Ordinary NPV | CFD
| Short | 121049 | 109.79237003 ZAR |
Ordinary NPV | CFD
| Short | 182638 | 5.010419 GBP |
(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 |
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(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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3. 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 |
| Date of disclosure: | 27 January 2026 |
| Contact name: | Richard Howard |
| Telephone number: | +44 (0)207 568 9128 |
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at [email protected]
The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing 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