19th 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: | 16 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
| 10226046 | 4.88400 GBP | 3.88766 GBP |
Ordinary NPV | Sell
| 9680060 | 4.87800 GBP | 4.76400 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 | 965 | 4.79430043 GBP |
Ordinary NPV | CFD
| Long | 435 | 4.79060006 GBP |
Ordinary NPV | CFD
| Long | 1463242 | 4.78561712 GBP |
Ordinary NPV | CFD
| Long | 492461 | 4.78957832 GBP |
Ordinary NPV | CFD
| Long | 16620 | 4.853541 GBP |
Ordinary NPV | CFD
| Long | 178 | 4.859 GBP |
Ordinary NPV | CFD
| Long | 11900 | 4.86 GBP |
Ordinary NPV | CFD
| Long | 245 | 4.8775 GBP |
Ordinary NPV | CFD
| Long | 559 | 4.878 GBP |
Ordinary NPV | CFD
| Long | 141 | 4.8595 GBP |
Ordinary NPV | CFD
| Long | 1973 | 4.8405 GBP |
Ordinary NPV | CFD
| Long | 2280 | 4.845 GBP |
Ordinary NPV | CFD
| Long | 242287 | 4.853281 GBP |
Ordinary NPV | CFD
| Long | 138 | 4.8185 GBP |
Ordinary NPV | CFD
| Long | 62 | 4.822 GBP |
Ordinary NPV | CFD
| Long | 149 | 4.823 GBP |
Ordinary NPV | CFD
| Long | 37 | 4.8455 GBP |
Ordinary NPV | CFD
| Long | 157 | 4.8505 GBP |
Ordinary NPV | CFD
| Long | 5099 | 4.854 GBP |
Ordinary NPV | CFD
| Long | 10459 | 4.852 GBP |
Ordinary NPV | CFD
| Long | 571 | 4.8425 GBP |
Ordinary NPV | CFD
| Long | 156228 | 106.20025968 ZAR |
Ordinary NPV | CFD
| Long | 451697 | 4.786 GBP |
Ordinary NPV | CFD
| Long | 7787 | 4.786745 GBP |
Ordinary NPV | CFD
| Long | 73204 | 4.823918 GBP |
Ordinary NPV | CFD
| Long | 46150 | 4.817753 GBP |
Ordinary NPV | CFD
| Long | 7599 | 4.844645 GBP |
Ordinary NPV | CFD
| Long | 41949 | 4.79814298 GBP |
Ordinary NPV | CFD
| Long | 1087 | 4.80519 GBP |
Ordinary NPV | CFD
| Long | 818400 | 4.82255957966764 GBP |
Ordinary NPV | CFD
| Long | 24844 | 4.78504266623732 GBP |
Ordinary NPV | CFD
| Long | 312726 | 4.7877 GBP |
Ordinary NPV | CFD
| Long | 10184 | 105.8143 ZAR |
Ordinary NPV | CFD
| Long | 2004 | 105.82414172 ZAR |
Ordinary NPV | CFD
| Long | 4618 | 4.785951 GBP |
Ordinary NPV | CFD
| Long | 5701 | 4.82111 GBP |
Ordinary NPV | CFD
| Long | 5505 | 4.818586 GBP |
Ordinary NPV | CFD
| Long | 3649 | 4.804935 GBP |
Ordinary NPV | CFD
| Long | 92159 | 4.815654 GBP |
Ordinary NPV | CFD
| Long | 28411 | 4.797159 GBP |
Ordinary NPV | CFD
| Long | 19660 | 4.825621 GBP |
Ordinary NPV | CFD
| Long | 80 | 4.807519 GBP |
Ordinary NPV | CFD
| Long | 10616 | 4.812009 GBP |
Ordinary NPV | CFD
| Long | 6841 | 4.816977 GBP |
Ordinary NPV | CFD
| Long | 5868 | 4.826156 GBP |
Ordinary NPV | CFD
| Long | 1271 | 4.821113 GBP |
Ordinary NPV | CFD
| Long | 26213 | 4.812007 GBP |
Ordinary NPV | CFD
| Long | 720 | 4.85 GBP |
Ordinary NPV | CFD
| Long | 4131 | 4.829482 GBP |
Ordinary NPV | CFD
| Long | 4106 | 4.823696 GBP |
Ordinary NPV | CFD
| Long | 1240 | 4.827492 GBP |
Ordinary NPV | CFD
| Long | 889 | 4.843841 GBP |
Ordinary NPV | CFD
| Long | 834 | 4.839603 GBP |
Ordinary NPV | CFD
| Long | 11291 | 4.828874 GBP |
Ordinary NPV | CFD
| Long | 10889 | 4.843482 GBP |
Ordinary NPV | CFD
| Long | 74 | 4.821845 GBP |
Ordinary NPV | CFD
| Long | 309185 | 4.81186246 GBP |
Ordinary NPV | CFD
| Long | 2800 | 4.78223214 GBP |
Ordinary NPV | CFD
| Long | 9935 | 105.91650327 ZAR |
Ordinary NPV | CFD
| Long | 1734 | 4.83930207531719 GBP |
Ordinary NPV | CFD
| Long | 50 | 4.8445 GBP |
Ordinary NPV | CFD
| Long | 227 | 4.801423 GBP |
Ordinary NPV | CFD
| Long | 199 | 4.806324 GBP |
Ordinary NPV | CFD
| Long | 10164 | 106.33085596 ZAR |
Ordinary NPV | CFD
| Long | 220560 | 105.90166236 ZAR |
Ordinary NPV | CFD
| Long | 21 | 105.48945 ZAR |
Ordinary NPV | CFD
| Short | 220560 | 105.90166236 ZAR |
Ordinary NPV | CFD
| Short | 9935 | 105.91650327 ZAR |
Ordinary NPV | CFD
| Short | 47066 | 4.815382 GBP |
Ordinary NPV | CFD
| Short | 3 | 4.86666666666667 GBP |
Ordinary NPV | CFD
| Short | 436 | 4.865 GBP |
Ordinary NPV | CFD
| Short | 31 | 4.86516129032258 GBP |
Ordinary NPV | CFD
| Short | 9 | 4.86555555555556 GBP |
Ordinary NPV | CFD
| Short | 10164 | 106.33085596 ZAR |
Ordinary NPV | CFD
| Short | 5133880 | 4.8203 GBP |
Ordinary NPV | CFD
| Short | 226019 | 6.43167808 USD |
Ordinary NPV | CFD
| Short | 720 | 4.85 GBP |
Ordinary NPV | CFD
| Short | 100000 | 4.821086 GBP |
Ordinary NPV | CFD
| Short | 50000 | 4.773399 GBP |
Ordinary NPV | CFD
| Short | 150000 | 4.82013893 GBP |
Ordinary NPV | CFD
| Short | 100000 | 4.849926 GBP |
Ordinary NPV | CFD
| Short | 5318 | 4.81400740872508 GBP |
Ordinary NPV | CFD
| Short | 23488 | 4.8063669999 GBP |
Ordinary NPV | CFD
| Short | 1657 | 4.787373 GBP |
Ordinary NPV | CFD
| Short | 10184 | 105.8143 ZAR |
Ordinary NPV | CFD
| Short | 2004 | 105.82414172 ZAR |
Ordinary NPV | CFD
| Short | 156228 | 106.20025968 ZAR |
Ordinary NPV | CFD
| Short | 21 | 105.4895 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: | 19 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