23rd Jan 2026 10:52
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: | J.P. Morgan Securities Plc |
(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 dealing undertaken: | 22 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, Rio Tinto plc and Limited |
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 | Purchase | 15,718 | 107.8890 ZAR | 106.9300 ZAR |
10,331,734 | 5.0000 GBP | 4.8455 GBP | ||
| Sale | 15,718 | 108.0000 ZAR | 106.9300 ZAR | |
9,185,116 | 5.0000 GBP | 4.8360 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
Decrease Short
Increase Long
Increase Short
Opening a long position
Opening a short position
| 1,492 18,712 281,070 247,650 50,932 114,124 264 446 3,088 116,177 920 7,351 9,635 3,082 45,752 34,383 15,829
44,229 66,602 22,505 4,600 191,902 10,445 12,130 1 79,456 978 1 368 302,149 7,116 1,420 168 9,780 344,203 1,837 4,453 1,141 5,700 142,085 1,033 82,751 750 800 7,351 2,445 4,010 870 2,672 822 3,082 34,383 1,000 491 760 10,844
5,801 38,716 306,991 56,514 2,454 14,451 1,651 21,215 8,711 19,018 46,121 1,147
13,491 13,415 56,915 10,456 393,008 20,772 985 191,473 450,692 59,951 17,000 18,695 11,127 64,638 6,700 58,759 285,369 6,746 699 2,331 1,192 164 8,183 1,290 1,088 7,624 295 8,711 19,018 1,147
8,721 6,169 1,163 8,963 7,468 10,960 2,308
870 13,948 1,416 2,141 967 6,769 829 17,793 2,258 | 4.8705 GBP 4.8936 GBP 4.8998 GBP 4.9015 GBP 4.9041 GBP 4.9082 GBP 4.9165 GBP 4.9213 GBP 4.9301 GBP 4.9587 GBP 4.9707 GBP 106.9595 ZAR 107.0544 ZAR 107.2121 ZAR 107.4732 ZAR 107.7447 ZAR 107.9813 ZAR
4.8385 GBP 4.8409 GBP 4.8493 GBP 4.8735 GBP 4.8871 GBP 4.8890 GBP 4.8894 GBP 4.8895 GBP 4.8914 GBP 4.8945 GBP 4.9010 GBP 4.9011 GBP 4.9013 GBP 4.9014 GBP 4.9054 GBP 4.9093 GBP 4.9096 GBP 4.9106 GBP 4.9127 GBP 4.9129 GBP 4.9222 GBP 4.9231 GBP 4.9339 GBP 4.9635 GBP 4.9674 GBP 106.7500 ZAR 106.7600 ZAR 106.9595 ZAR 106.9854 ZAR 106.9966 ZAR 106.9969 ZAR 107.0061 ZAR 107.0107 ZAR 107.2121 ZAR 107.7448 ZAR 108.0200 ZAR 108.1853 ZAR 108.2300 ZAR 108.2508 ZAR
4.8696 GBP 4.8905 GBP 4.9015 GBP 4.9135 GBP 4.9269 GBP 4.9563 GBP 106.9296 ZAR 106.9437 ZAR 107.0147 ZAR 107.4337 ZAR 107.5931 ZAR 109.9680 ZAR
4.8717 GBP 4.8888 GBP 4.8940 GBP 4.8959 GBP 4.8995 GBP 4.9017 GBP 4.9110 GBP 4.9150 GBP 4.9154 GBP 4.9189 GBP 4.9190 GBP 4.9198 GBP 4.9220 GBP 4.9224 GBP 4.9275 GBP 4.9337 GBP 4.9575 GBP 4.9811 GBP 106.8001 ZAR 106.8526 ZAR 106.9300 ZAR 106.9400 ZAR 106.9466 ZAR 106.9502 ZAR 106.9717 ZAR 106.9765 ZAR 107.0000 ZAR 107.0147 ZAR 107.4337 ZAR 109.9900 ZAR
106.7297 ZAR 106.7564 ZAR 106.7600 ZAR 106.9770 ZAR 108.0494 ZAR 108.1815 ZAR 109.2349 ZAR
4.9360 GBP 106.8739 ZAR 106.8812 ZAR 106.9000 ZAR 106.9579 ZAR 107.0063 ZAR 108.0064 ZAR 108.2430 ZAR 109.9200 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) |
|
|
|
|
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
|
(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: | 23 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 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