22nd Jan 2026 11:57
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: | 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 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
| 6749925 | 5.04000 GBP | 3.90179 GBP |
Ordinary NPV | Sell
| 6292050 | 5.04000 GBP | 4.84593 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 | 14616 | 4.99752668 GBP |
Ordinary NPV | CFD
| Long | 1791 | 4.991429 GBP |
Ordinary NPV | CFD
| Long | 72140 | 4.92824674242583 GBP |
Ordinary NPV | CFD
| Long | 47 | 4.95744680851064 GBP |
Ordinary NPV | CFD
| Long | 517 | 4.96350096711799 GBP |
Ordinary NPV | CFD
| Long | 125 | 4.96352 GBP |
Ordinary NPV | CFD
| Long | 107 | 4.94046728971963 GBP |
Ordinary NPV | CFD
| Long | 373 | 4.96351206434316 GBP |
Ordinary NPV | CFD
| Long | 103 | 4.91553398058252 GBP |
Ordinary NPV | CFD
| Long | 27 | 4.94037037037037 GBP |
Ordinary NPV | CFD
| Long | 588 | 4.96350340136054 GBP |
Ordinary NPV | CFD
| Long | 336 | 4.94050595238095 GBP |
Ordinary NPV | CFD
| Long | 244 | 4.91549180327869 GBP |
Ordinary NPV | CFD
| Long | 2151 | 109.40161785 ZAR |
Ordinary NPV | CFD
| Long | 439 | 109.2827 ZAR |
Ordinary NPV | CFD
| Long | 49500 | 5.0037321196 GBP |
Ordinary NPV | CFD
| Long | 275000 | 4.99085109 GBP |
Ordinary NPV | CFD
| Long | 234116 | 4.97509383 GBP |
Ordinary NPV | CFD
| Long | 200000 | 4.97704715 GBP |
Ordinary NPV | CFD
| Long | 200000 | 4.96944125 GBP |
Ordinary NPV | CFD
| Long | 8937 | 109.23001231 ZAR |
Ordinary NPV | CFD
| Long | 341 | 4.94049853372434 GBP |
Ordinary NPV | CFD
| Long | 314 | 4.96350318471338 GBP |
Ordinary NPV | CFD
| Long | 143 | 4.91552447552448 GBP |
Ordinary NPV | CFD
| Long | 12916 | 4.9929156270672 GBP |
Ordinary NPV | CFD
| Long | 105 | 4.96352380952381 GBP |
Ordinary NPV | CFD
| Long | 71 | 4.94056338028169 GBP |
Ordinary NPV | CFD
| Long | 45 | 4.91555555555556 GBP |
Ordinary NPV | CFD
| Long | 115978 | 5.001318 GBP |
Ordinary NPV | CFD
| Long | 5192 | 109.05018683 ZAR |
Ordinary NPV | CFD
| Long | 173352 | 108.98018615 ZAR |
Ordinary NPV | CFD
| Long | 29657 | 109.09195064 ZAR |
Ordinary NPV | CFD
| Long | 13966 | 4.9890296 GBP |
Ordinary NPV | CFD
| Long | 12170 | 4.853674 GBP |
Ordinary NPV | CFD
| Long | 17602 | 109.00657596 ZAR |
Ordinary NPV | CFD
| Long | 805 | 4.998444 GBP |
Ordinary NPV | CFD
| Long | 58243 | 4.974001 GBP |
Ordinary NPV | CFD
| Short | 12468 | 5.00184312 GBP |
Ordinary NPV | CFD
| Short | 1866413 | 4.9767 GBP |
Ordinary NPV | CFD
| Short | 5313 | 4.997126 GBP |
Ordinary NPV | CFD
| Short | 5102 | 4.96586045 GBP |
Ordinary NPV | CFD
| Short | 42078 | 4.984455 GBP |
Ordinary NPV | CFD
| Short | 4008 | 4.941491 GBP |
Ordinary NPV | CFD
| Short | 80759 | 5.00409985265667 GBP |
Ordinary NPV | CFD
| Short | 9741 | 5.00035006672826 GBP |
Ordinary NPV | CFD
| Short | 29657 | 109.09195064 ZAR |
Ordinary NPV | CFD
| Short | 5192 | 109.05018683 ZAR |
Ordinary NPV | CFD
| Short | 731330 | 5.0 GBP |
Ordinary NPV | CFD
| Short | 226918 | 6.69362524 USD |
Ordinary NPV | CFD
| Short | 7566 | 4.991665 GBP |
Ordinary NPV | CFD
| Short | 32 | 4.998903 GBP |
Ordinary NPV | CFD
| Short | 33600 | 4.9819094273 GBP |
Ordinary NPV | CFD
| Short | 700 | 4.89521571 GBP |
Ordinary NPV | CFD
| Short | 43 | 4.986529 GBP |
Ordinary NPV | CFD
| Short | 17602 | 109.00657596 ZAR |
Ordinary NPV | CFD
| Short | 8937 | 109.23001231 ZAR |
Ordinary NPV | CFD
| Short | 439 | 109.2827 ZAR |
Ordinary NPV | CFD
| Short | 2151 | 109.40161785 ZAR |
Ordinary NPV | CFD
| Short | 2752 | 4.9990001 GBP |
Ordinary NPV | CFD
| Short | 476 | 4.99890011 GBP |
Ordinary NPV | CFD
| Short | 14894 | 4.97039402 GBP |
Ordinary NPV | CFD
| Short | 4790 | 4.97452 GBP |
Ordinary NPV | CFD
| Short | 1130 | 4.974 GBP |
Ordinary NPV | CFD
| Short | 867 | 4.9725 GBP |
Ordinary NPV | CFD
| Short | 173352 | 108.98018615 ZAR |
Ordinary NPV | CFD
| Short | 5681 | 4.999474 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: | 22 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