12th Jan 2026 13:14
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: | 09 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 |
USD 0.01 | Buy
| 22792276 | 103.21000 ZAR | 3.939718 GBP |
USD 0.01 | Sell
| 20505112 | 102.67000 ZAR | 3.67140 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 |
USD 0.01 | CFD
| Long | 58123 | 4.52749975 GBP |
USD 0.01 | CFD
| Long | 2364 | 4.5250005 GBP |
USD 0.01 | CFD
| Long | 24231 | 4.52669967 GBP |
USD 0.01 | CFD
| Long | 181411 | 4.546142 GBP |
USD 0.01 | CFD
| Long | 158 | 4.564 GBP |
USD 0.01 | CFD
| Long | 117 | 4.56825 GBP |
USD 0.01 | CFD
| Long | 211 | 4.578 GBP |
USD 0.01 | CFD
| Long | 94 | 4.5755 GBP |
USD 0.01 | CFD
| Long | 4509 | 4.5515 GBP |
USD 0.01 | CFD
| Long | 11883 | 4.5345 GBP |
USD 0.01 | CFD
| Long | 2334 | 4.53625 GBP |
USD 0.01 | CFD
| Long | 100 | 4.5605 GBP |
USD 0.01 | CFD
| Long | 135 | 4.5205 GBP |
USD 0.01 | CFD
| Long | 926 | 4.5435 GBP |
USD 0.01 | CFD
| Long | 374604 | 100.27437307 ZAR |
USD 0.01 | CFD
| Long | 161546 | 4.45277252 GBP |
USD 0.01 | CFD
| Long | 63 | 4.48793650793651 GBP |
USD 0.01 | CFD
| Long | 8 | 4.46375 GBP |
USD 0.01 | CFD
| Long | 370 | 4.54710810810811 GBP |
USD 0.01 | CFD
| Long | 60000 | 4.447032 GBP |
USD 0.01 | CFD
| Long | 87 | 4.46344827586207 GBP |
USD 0.01 | CFD
| Long | 5 | 4.49 GBP |
USD 0.01 | CFD
| Long | 1562 | 4.54711907810499 GBP |
USD 0.01 | CFD
| Long | 484 | 4.46626033057851 GBP |
USD 0.01 | CFD
| Long | 344 | 4.58700581395349 GBP |
USD 0.01 | CFD
| Long | 139 | 4.46352517985612 GBP |
USD 0.01 | CFD
| Long | 48 | 4.48791666666667 GBP |
USD 0.01 | CFD
| Long | 3211 | 4.54711927748365 GBP |
USD 0.01 | CFD
| Long | 529 | 4.5869943289225 GBP |
USD 0.01 | CFD
| Long | 153 | 4.58699346405229 GBP |
USD 0.01 | CFD
| Long | 62 | 4.46354838709677 GBP |
USD 0.01 | CFD
| Long | 11 | 4.48818181818182 GBP |
USD 0.01 | CFD
| Long | 851 | 4.54712103407756 GBP |
USD 0.01 | CFD
| Long | 4 | 4.4875 GBP |
USD 0.01 | CFD
| Long | 3388 | 4.54711924439197 GBP |
USD 0.01 | CFD
| Long | 1050 | 4.46624761904762 GBP |
USD 0.01 | CFD
| Long | 746 | 4.58699731903485 GBP |
USD 0.01 | CFD
| Long | 251 | 4.46350597609562 GBP |
USD 0.01 | CFD
| Long | 221770 | 4.520167 GBP |
USD 0.01 | CFD
| Long | 115 | 100.7948 ZAR |
USD 0.01 | CFD
| Long | 8362 | 4.5236756462298 GBP |
USD 0.01 | CFD
| Long | 1106019 | 4.5265 GBP |
USD 0.01 | CFD
| Long | 89247 | 4.52650005042186 GBP |
USD 0.01 | CFD
| Long | 34650 | 4.52650014430014 GBP |
USD 0.01 | CFD
| Long | 220058 | 4.52754411 GBP |
USD 0.01 | CFD
| Long | 400000 | 4.58012088 GBP |
USD 0.01 | CFD
| Long | 200000 | 4.57788375 GBP |
USD 0.01 | CFD
| Long | 140374 | 4.580291 GBP |
USD 0.01 | CFD
| Long | 7391 | 4.53 GBP |
USD 0.01 | CFD
| Long | 32512 | 4.52625 GBP |
USD 0.01 | CFD
| Long | 98367 | 4.53024998220948 GBP |
USD 0.01 | CFD
| Long | 31675 | 4.45567915307024 GBP |
USD 0.01 | CFD
| Long | 40557 | 4.456834 GBP |
USD 0.01 | CFD
| Long | 16852 | 4.454418 GBP |
USD 0.01 | CFD
| Long | 13810 | 4.455861 GBP |
USD 0.01 | CFD
| Long | 5567 | 4.451265 GBP |
USD 0.01 | CFD
| Long | 773 | 4.452159 GBP |
USD 0.01 | CFD
| Long | 3413 | 4.467053 GBP |
USD 0.01 | CFD
| Long | 374906 | 4.434602 GBP |
USD 0.01 | CFD
| Long | 224519 | 4.452626 GBP |
USD 0.01 | CFD
| Long | 65972 | 4.453708 GBP |
USD 0.01 | CFD
| Long | 219790 | 4.50621306867191 GBP |
USD 0.01 | CFD
| Long | 489254 | 4.51194235 GBP |
USD 0.01 | CFD
| Long | 417283 | 4.50621308866798 GBP |
USD 0.01 | CFD
| Long | 134 | 4.58701492537313 GBP |
USD 0.01 | CFD
| Long | 36 | 4.46361111111111 GBP |
USD 0.01 | CFD
| Long | 605 | 4.54712396694215 GBP |
USD 0.01 | CFD
| Long | 189 | 4.46624338624339 GBP |
USD 0.01 | CFD
| Long | 1552 | 4.54711984536082 GBP |
USD 0.01 | CFD
| Long | 545 | 4.46625688073394 GBP |
USD 0.01 | CFD
| Long | 390 | 4.587 GBP |
USD 0.01 | CFD
| Long | 265 | 4.46350943396226 GBP |
USD 0.01 | CFD
| Long | 5720 | 4.54345316363636 GBP |
USD 0.01 | CFD
| Long | 18980 | 100.72 ZAR |
USD 0.01 | CFD
| Long | 484720 | 100.94809775 ZAR |
USD 0.01 | CFD
| Long | 102 | 100.5023 ZAR |
USD 0.01 | CFD
| Long | 698769 | 99.68725235 ZAR |
USD 0.01 | CFD
| Long | 78736 | 100.6658 ZAR |
USD 0.01 | CFD
| Long | 7779 | 100.57933668 ZAR |
USD 0.01 | CFD
| Long | 48713 | 100.59757847 ZAR |
USD 0.01 | CFD
| Long | 64033 | 101.999525574286 ZAR |
USD 0.01 | CFD
| Long | 121569 | 101.999523244285 ZAR |
USD 0.01 | CFD
| Long | 3142 | 4.518644 GBP |
USD 0.01 | CFD
| Long | 4007 | 4.52369709164623 GBP |
USD 0.01 | CFD
| Long | 13366 | 4.43815805602125 GBP |
USD 0.01 | CFD
| Long | 5652 | 4.52110011 GBP |
USD 0.01 | CFD
| Long | 4026 | 4.54852735 GBP |
USD 0.01 | CFD
| Long | 45240 | 4.483823 GBP |
USD 0.01 | CFD
| Long | 15584 | 4.535483 GBP |
USD 0.01 | CFD
| Long | 238109 | 4.54745579 GBP |
USD 0.01 | CFD
| Long | 71979 | 4.52305955 GBP |
USD 0.01 | CFD
| Long | 32911 | 4.536267 GBP |
USD 0.01 | CFD
| Long | 7519 | 4.538444 GBP |
USD 0.01 | CFD
| Long | 319 | 4.44968652 GBP |
USD 0.01 | CFD
| Short | 190 | 100.746307 ZAR |
USD 0.01 | CFD
| Short | 41482 | 100.665607 ZAR |
USD 0.01 | CFD
| Short | 163317 | 4.559653 GBP |
USD 0.01 | CFD
| Short | 158423 | 4.47610915 GBP |
USD 0.01 | CFD
| Short | 65486 | 4.497486 GBP |
USD 0.01 | CFD
| Short | 3185 | 4.54875 GBP |
USD 0.01 | CFD
| Short | 1604 | 4.54810474 GBP |
USD 0.01 | CFD
| Short | 3652757 | 4.5019 GBP |
USD 0.01 | CFD
| Short | 88446 | 4.520228 GBP |
USD 0.01 | CFD
| Short | 484720 | 100.94809775 ZAR |
USD 0.01 | CFD
| Short | 60000 | 4.47531 GBP |
USD 0.01 | CFD
| Short | 37064 | 100.665627 ZAR |
USD 0.01 | CFD
| Short | 18980 | 100.72 ZAR |
USD 0.01 | CFD
| Short | 102 | 100.5023 ZAR |
USD 0.01 | CFD
| Short | 48713 | 100.59757847 ZAR |
USD 0.01 | CFD
| Short | 41892 | 4.5167 GBP |
USD 0.01 | CFD
| Short | 164598 | 6.05703001 USD |
USD 0.01 | CFD
| Short | 229752 | 4.5265 GBP |
USD 0.01 | CFD
| Short | 16479 | 4.48825011 GBP |
USD 0.01 | CFD
| Short | 100588 | 4.52677158 GBP |
USD 0.01 | CFD
| Short | 11525 | 4.51756614 GBP |
USD 0.01 | CFD
| Short | 6579 | 4.52530072 GBP |
USD 0.01 | CFD
| Short | 6564 | 4.49997734 GBP |
USD 0.01 | CFD
| Short | 18317 | 4.483778 GBP |
USD 0.01 | CFD
| Short | 3319 | 4.54197349 GBP |
USD 0.01 | CFD
| Short | 12415 | 4.52432944019331 GBP |
USD 0.01 | CFD
| Short | 6830 | 4.48555929721816 GBP |
USD 0.01 | CFD
| Short | 5740 | 4.54197386759582 GBP |
USD 0.01 | CFD
| Short | 615 | 4.5189593495935 GBP |
USD 0.01 | CFD
| Short | 168000 | 4.4692192343 GBP |
USD 0.01 | CFD
| Short | 172971 | 4.47465332108978 GBP |
USD 0.01 | CFD
| Short | 136036 | 4.52700175246096 GBP |
USD 0.01 | CFD
| Short | 267298 | 4.47462263092129 GBP |
USD 0.01 | CFD
| Short | 211195 | 4.536781741992 GBP |
USD 0.01 | CFD
| Short | 51295 | 4.53024992689346 GBP |
USD 0.01 | CFD
| Short | 15205 | 4.5262499177902 GBP |
USD 0.01 | CFD
| Short | 7391 | 4.53 GBP |
USD 0.01 | CFD
| Short | 760630 | 4.51002524 GBP |
USD 0.01 | CFD
| Short | 150000 | 4.5166274 GBP |
USD 0.01 | CFD
| Short | 263622 | 4.49843769 GBP |
USD 0.01 | CFD
| Short | 100000 | 4.534763 GBP |
USD 0.01 | CFD
| Short | 100000 | 4.544364 GBP |
USD 0.01 | CFD
| Short | 100000 | 4.53878 GBP |
USD 0.01 | CFD
| Short | 200000 | 4.55364 GBP |
USD 0.01 | CFD
| Short | 200000 | 4.462604 GBP |
USD 0.01 | CFD
| Short | 200000 | 4.44396835 GBP |
USD 0.01 | CFD
| Short | 14783 | 4.533758 GBP |
USD 0.01 | CFD
| Short | 471871 | 4.52627 GBP |
USD 0.01 | CFD
| Short | 168769 | 4.420295 GBP |
USD 0.01 | CFD
| Short | 109360 | 4.521001 GBP |
USD 0.01 | CFD
| Short | 10153 | 4.537864 GBP |
USD 0.01 | CFD
| Short | 2074 | 4.516545 GBP |
USD 0.01 | CFD
| Short | 34517 | 4.53025002172842 GBP |
USD 0.01 | CFD
| Short | 13585 | 4.52625027603975 GBP |
USD 0.01 | CFD
| Short | 12555 | 4.53025009956193 GBP |
USD 0.01 | CFD
| Short | 3722 | 4.52624932831811 GBP |
USD 0.01 | CFD
| Short | 7779 | 100.57933668 ZAR |
USD 0.01 | CFD
| Short | 12194 | 4.5228 GBP |
USD 0.01 | CFD
| Short | 331 | 4.516003 GBP |
USD 0.01 | CFD
| Short | 115 | 100.7948 ZAR |
USD 0.01 | CFD
| Short | 185602 | 101.99952404 ZAR |
USD 0.01 | CFD
| Short | 374604 | 100.27437307 ZAR |
USD 0.01 | CFD
| Short | 241076 | 99.6872547760728 ZAR |
USD 0.01 | CFD
| Short | 457693 | 99.6872510860771 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 |
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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: | 12 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