16th Jan 2026 11:55
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: | 15 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
| 5748560 | 4.93000 GBP | 3.77406 GBP |
Ordinary NPV | Sell
| 6610412 | 4.93000 GBP | 4.10772 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 | 960397 | 4.91 GBP |
Ordinary NPV | CFD
| Long | 44685 | 4.90901801499385 GBP |
Ordinary NPV | CFD
| Long | 923228 | 4.8971 GBP |
Ordinary NPV | CFD
| Long | 7569 | 107.41899723 ZAR |
Ordinary NPV | CFD
| Long | 248510 | 107.39955994 ZAR |
Ordinary NPV | CFD
| Long | 116059 | 4.91736 GBP |
Ordinary NPV | CFD
| Long | 2747 | 4.915519 GBP |
Ordinary NPV | CFD
| Long | 2154 | 107.587262 ZAR |
Ordinary NPV | CFD
| Long | 49682 | 107.595 ZAR |
Ordinary NPV | CFD
| Long | 14267 | 107.61924651 ZAR |
Ordinary NPV | CFD
| Long | 164 | 4.8985 GBP |
Ordinary NPV | CFD
| Long | 68 | 4.89775 GBP |
Ordinary NPV | CFD
| Long | 62 | 4.90075 GBP |
Ordinary NPV | CFD
| Long | 111 | 4.8965 GBP |
Ordinary NPV | CFD
| Long | 63 | 4.896 GBP |
Ordinary NPV | CFD
| Long | 53 | 4.88075 GBP |
Ordinary NPV | CFD
| Long | 41 | 4.882 GBP |
Ordinary NPV | CFD
| Long | 582 | 4.906 GBP |
Ordinary NPV | CFD
| Long | 785 | 4.902 GBP |
Ordinary NPV | CFD
| Long | 76 | 4.8945 GBP |
Ordinary NPV | CFD
| Long | 857 | 4.894 GBP |
Ordinary NPV | CFD
| Long | 96 | 4.9035 GBP |
Ordinary NPV | CFD
| Long | 93 | 4.889 GBP |
Ordinary NPV | CFD
| Long | 73 | 4.90475 GBP |
Ordinary NPV | CFD
| Long | 170 | 4.929 GBP |
Ordinary NPV | CFD
| Long | 253 | 4.9235 GBP |
Ordinary NPV | CFD
| Long | 142 | 4.931 GBP |
Ordinary NPV | CFD
| Long | 796 | 4.925 GBP |
Ordinary NPV | CFD
| Long | 37003 | 4.9185 GBP |
Ordinary NPV | CFD
| Long | 328027 | 4.884692 GBP |
Ordinary NPV | CFD
| Long | 333 | 4.86979 GBP |
Ordinary NPV | CFD
| Long | 5196 | 4.9 GBP |
Ordinary NPV | CFD
| Long | 290 | 4.871 GBP |
Ordinary NPV | CFD
| Long | 164 | 4.873 GBP |
Ordinary NPV | CFD
| Long | 225 | 4.874 GBP |
Ordinary NPV | CFD
| Long | 471 | 4.9215 GBP |
Ordinary NPV | CFD
| Long | 212 | 4.8775 GBP |
Ordinary NPV | CFD
| Long | 3342 | 4.915515 GBP |
Ordinary NPV | CFD
| Long | 76183 | 4.90935642 GBP |
Ordinary NPV | CFD
| Long | 65411 | 4.902477 GBP |
Ordinary NPV | CFD
| Long | 42391 | 4.90998769 GBP |
Ordinary NPV | CFD
| Long | 5638 | 4.909523 GBP |
Ordinary NPV | CFD
| Long | 182 | 4.920179 GBP |
Ordinary NPV | CFD
| Long | 73 | 4.9090411 GBP |
Ordinary NPV | CFD
| Long | 2479 | 106.6472 ZAR |
Ordinary NPV | CFD
| Long | 5673 | 107.6293 ZAR |
Ordinary NPV | CFD
| Long | 26827 | 107.53719872 ZAR |
Ordinary NPV | CFD
| Long | 8724 | 4.915517 GBP |
Ordinary NPV | CFD
| Long | 90 | 4.9021 GBP |
Ordinary NPV | CFD
| Long | 10000 | 4.8708382514 GBP |
Ordinary NPV | CFD
| Long | 89515 | 4.88299742 GBP |
Ordinary NPV | CFD
| Long | 52 | 4.821437 GBP |
Ordinary NPV | CFD
| Long | 8120 | 4.813345 GBP |
Ordinary NPV | CFD
| Long | 3296 | 4.859575 GBP |
Ordinary NPV | CFD
| Long | 2012 | 4.854113 GBP |
Ordinary NPV | CFD
| Long | 1011 | 4.825563 GBP |
Ordinary NPV | CFD
| Long | 19307 | 4.87725022012741 GBP |
Ordinary NPV | CFD
| Long | 10984 | 4.81049981791697 GBP |
Ordinary NPV | CFD
| Long | 31120 | 4.8145 GBP |
Ordinary NPV | CFD
| Long | 93 | 4.87849462365591 GBP |
Ordinary NPV | CFD
| Long | 2478 | 4.85025020177563 GBP |
Ordinary NPV | CFD
| Long | 216 | 4.858264 GBP |
Ordinary NPV | CFD
| Long | 37232 | 4.846648 GBP |
Ordinary NPV | CFD
| Long | 9038 | 4.854595 GBP |
Ordinary NPV | CFD
| Long | 2052 | 4.85004274707602 GBP |
Ordinary NPV | CFD
| Long | 15336 | 4.871303 GBP |
Ordinary NPV | CFD
| Long | 521 | 4.87850287907869 GBP |
Ordinary NPV | CFD
| Long | 13054 | 4.85024973188295 GBP |
Ordinary NPV | CFD
| Long | 1063 | 107.26310442 ZAR |
Ordinary NPV | CFD
| Long | 3379 | 4.89773987277301 GBP |
Ordinary NPV | CFD
| Long | 46945 | 4.90901799978698 GBP |
Ordinary NPV | CFD
| Long | 23492 | 107.9355 ZAR |
Ordinary NPV | CFD
| Long | 5919 | 107.7373 ZAR |
Ordinary NPV | CFD
| Short | 5893 | 4.907132 GBP |
Ordinary NPV | CFD
| Short | 2479 | 106.6472 ZAR |
Ordinary NPV | CFD
| Short | 5673 | 107.6293 ZAR |
Ordinary NPV | CFD
| Short | 14267 | 107.61924651 ZAR |
Ordinary NPV | CFD
| Short | 12407 | 107.935486 ZAR |
Ordinary NPV | CFD
| Short | 3126 | 107.737277 ZAR |
Ordinary NPV | CFD
| Short | 10701 | 107.594999532754 ZAR |
Ordinary NPV | CFD
| Short | 15537 | 107.594999678188 ZAR |
Ordinary NPV | CFD
| Short | 1327 | 4.90890011 GBP |
Ordinary NPV | CFD
| Short | 248510 | 107.39955994 ZAR |
Ordinary NPV | CFD
| Short | 3850 | 4.895781 GBP |
Ordinary NPV | CFD
| Short | 738510 | 4.911964 GBP |
Ordinary NPV | CFD
| Short | 79496 | 4.89804946 GBP |
Ordinary NPV | CFD
| Short | 15703 | 4.828793 GBP |
Ordinary NPV | CFD
| Short | 1775 | 4.913251 GBP |
Ordinary NPV | CFD
| Short | 33329 | 4.8856 GBP |
Ordinary NPV | CFD
| Short | 19296 | 4.887978 GBP |
Ordinary NPV | CFD
| Short | 11085 | 107.935431 ZAR |
Ordinary NPV | CFD
| Short | 2793 | 107.737418 ZAR |
Ordinary NPV | CFD
| Short | 13883 | 107.595000360153 ZAR |
Ordinary NPV | CFD
| Short | 9561 | 107.595000522958 ZAR |
Ordinary NPV | CFD
| Short | 7569 | 107.41899723 ZAR |
Ordinary NPV | CFD
| Short | 25162 | 4.8863 GBP |
Ordinary NPV | CFD
| Short | 217265 | 6.55076814 USD |
Ordinary NPV | CFD
| Short | 941748 | 4.91 GBP |
Ordinary NPV | CFD
| Short | 7807 | 4.87724990393237 GBP |
Ordinary NPV | CFD
| Short | 7299 | 4.85024934922592 GBP |
Ordinary NPV | CFD
| Short | 290 | 4.87848275862069 GBP |
Ordinary NPV | CFD
| Short | 3806 | 4.81049921177089 GBP |
Ordinary NPV | CFD
| Short | 3488 | 4.81450114678899 GBP |
Ordinary NPV | CFD
| Short | 8983 | 4.8772503617945 GBP |
Ordinary NPV | CFD
| Short | 8233 | 4.85025021255921 GBP |
Ordinary NPV | CFD
| Short | 324 | 4.87848765432099 GBP |
Ordinary NPV | CFD
| Short | 4245 | 4.81049941107185 GBP |
Ordinary NPV | CFD
| Short | 4171 | 4.81450011987533 GBP |
Ordinary NPV | CFD
| Short | 2517 | 4.87725069527215 GBP |
Ordinary NPV | CFD
| Short | 23461 | 4.81449980819232 GBP |
Ordinary NPV | CFD
| Short | 2933 | 4.81050119331742 GBP |
Ordinary NPV | CFD
| Short | 36100 | 4.8891310007 GBP |
Ordinary NPV | CFD
| Short | 26827 | 107.53719872 ZAR |
Ordinary NPV | CFD
| Short | 2154 | 107.5873 ZAR |
Ordinary NPV | CFD
| Short | 1063 | 107.26310442 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: | 16 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