15th Jan 2026 12:01
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: | 14 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
|
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
| 17089449 | 106.96000 ZAR | 3.67190 GBP |
Ordinary NPV | Sell
| 12182754 | 106.94980 ZAR | 4.75756 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 | 941 | 4.8385 GBP |
Ordinary NPV | CFD
| Long | 100 | 4.80375 GBP |
Ordinary NPV | CFD
| Long | 300 | 4.8005 GBP |
Ordinary NPV | CFD
| Long | 468 | 4.7935 GBP |
Ordinary NPV | CFD
| Long | 619 | 4.7835 GBP |
Ordinary NPV | CFD
| Long | 251 | 4.78725 GBP |
Ordinary NPV | CFD
| Long | 925 | 4.7955 GBP |
Ordinary NPV | CFD
| Long | 372 | 4.7985 GBP |
Ordinary NPV | CFD
| Long | 520 | 4.79525 GBP |
Ordinary NPV | CFD
| Long | 252 | 4.79375 GBP |
Ordinary NPV | CFD
| Long | 490 | 4.794 GBP |
Ordinary NPV | CFD
| Long | 300 | 4.79475 GBP |
Ordinary NPV | CFD
| Long | 490 | 4.7865 GBP |
Ordinary NPV | CFD
| Long | 138 | 4.7885 GBP |
Ordinary NPV | CFD
| Long | 5000 | 4.7735 GBP |
Ordinary NPV | CFD
| Long | 192 | 4.7695 GBP |
Ordinary NPV | CFD
| Long | 2998 | 4.774 GBP |
Ordinary NPV | CFD
| Long | 120 | 4.77175 GBP |
Ordinary NPV | CFD
| Long | 127 | 4.7745 GBP |
Ordinary NPV | CFD
| Long | 374 | 4.7785 GBP |
Ordinary NPV | CFD
| Long | 222 | 4.77125 GBP |
Ordinary NPV | CFD
| Long | 257 | 4.77525 GBP |
Ordinary NPV | CFD
| Long | 93 | 4.77625 GBP |
Ordinary NPV | CFD
| Long | 3550 | 4.77725 GBP |
Ordinary NPV | CFD
| Long | 282 | 4.78 GBP |
Ordinary NPV | CFD
| Long | 478 | 4.777 GBP |
Ordinary NPV | CFD
| Long | 478 | 4.7755 GBP |
Ordinary NPV | CFD
| Long | 95 | 4.77425 GBP |
Ordinary NPV | CFD
| Long | 86 | 4.7575 GBP |
Ordinary NPV | CFD
| Long | 587 | 4.787 GBP |
Ordinary NPV | CFD
| Long | 316 | 4.798 GBP |
Ordinary NPV | CFD
| Long | 358 | 4.796 GBP |
Ordinary NPV | CFD
| Long | 935 | 4.79625 GBP |
Ordinary NPV | CFD
| Long | 4285 | 4.7605 GBP |
Ordinary NPV | CFD
| Long | 316 | 4.84925 GBP |
Ordinary NPV | CFD
| Long | 1720 | 4.8335 GBP |
Ordinary NPV | CFD
| Long | 317605 | 4.842 GBP |
Ordinary NPV | CFD
| Long | 269 | 4.843 GBP |
Ordinary NPV | CFD
| Long | 191 | 4.8445 GBP |
Ordinary NPV | CFD
| Long | 21018 | 4.80927 GBP |
Ordinary NPV | CFD
| Long | 674 | 4.8159398 GBP |
Ordinary NPV | CFD
| Long | 36303 | 4.84103159518497 GBP |
Ordinary NPV | CFD
| Long | 7560 | 4.841649 GBP |
Ordinary NPV | CFD
| Long | 65860 | 4.84103158214394 GBP |
Ordinary NPV | CFD
| Long | 12033 | 106.09695005 ZAR |
Ordinary NPV | CFD
| Long | 38005 | 106.30165241 ZAR |
Ordinary NPV | CFD
| Long | 53183 | 106.7026 ZAR |
Ordinary NPV | CFD
| Long | 64404 | 105.82419834 ZAR |
Ordinary NPV | CFD
| Long | 10858 | 105.5337 ZAR |
Ordinary NPV | CFD
| Long | 1867 | 105.9719 ZAR |
Ordinary NPV | CFD
| Long | 15850 | 106.949787 ZAR |
Ordinary NPV | CFD
| Long | 1693 | 106.705117 ZAR |
Ordinary NPV | CFD
| Long | 75392 | 105.43 ZAR |
Ordinary NPV | CFD
| Long | 218791 | 4.78081222 GBP |
Ordinary NPV | CFD
| Long | 164 | 4.83859986 GBP |
Ordinary NPV | CFD
| Long | 3605 | 105.42044105 ZAR |
Ordinary NPV | CFD
| Long | 81 | 4.838 GBP |
Ordinary NPV | CFD
| Long | 252 | 4.826 GBP |
Ordinary NPV | CFD
| Long | 263 | 4.83975 GBP |
Ordinary NPV | CFD
| Long | 308 | 4.8465 GBP |
Ordinary NPV | CFD
| Long | 2566 | 4.83475 GBP |
Ordinary NPV | CFD
| Long | 106 | 4.84425 GBP |
Ordinary NPV | CFD
| Long | 61 | 4.8395 GBP |
Ordinary NPV | CFD
| Long | 1856 | 4.8345 GBP |
Ordinary NPV | CFD
| Long | 191 | 4.828 GBP |
Ordinary NPV | CFD
| Long | 478 | 4.84 GBP |
Ordinary NPV | CFD
| Long | 472 | 4.845 GBP |
Ordinary NPV | CFD
| Long | 612 | 4.833 GBP |
Ordinary NPV | CFD
| Long | 181 | 4.833251 GBP |
Ordinary NPV | CFD
| Long | 124 | 4.84025 GBP |
Ordinary NPV | CFD
| Long | 236 | 4.8415 GBP |
Ordinary NPV | CFD
| Long | 330 | 4.82825 GBP |
Ordinary NPV | CFD
| Long | 139 | 4.8435 GBP |
Ordinary NPV | CFD
| Long | 224 | 4.8455 GBP |
Ordinary NPV | CFD
| Long | 273 | 4.83775 GBP |
Ordinary NPV | CFD
| Long | 4782 | 4.84375 GBP |
Ordinary NPV | CFD
| Long | 392 | 4.85 GBP |
Ordinary NPV | CFD
| Long | 264 | 4.834 GBP |
Ordinary NPV | CFD
| Long | 471568 | 4.812015 GBP |
Ordinary NPV | CFD
| Long | 100 | 4.79925 GBP |
Ordinary NPV | CFD
| Long | 316 | 4.79725 GBP |
Ordinary NPV | CFD
| Long | 210 | 4.85352380952381 GBP |
Ordinary NPV | CFD
| Long | 162 | 4.78549382716049 GBP |
Ordinary NPV | CFD
| Long | 140 | 4.806 GBP |
Ordinary NPV | CFD
| Long | 137 | 4.78547445255474 GBP |
Ordinary NPV | CFD
| Long | 128 | 4.77703125 GBP |
Ordinary NPV | CFD
| Long | 799 | 4.80599499374218 GBP |
Ordinary NPV | CFD
| Long | 786 | 4.78549618320611 GBP |
Ordinary NPV | CFD
| Long | 746 | 4.77699731903485 GBP |
Ordinary NPV | CFD
| Long | 1200 | 4.8535 GBP |
Ordinary NPV | CFD
| Long | 911 | 4.78549945115258 GBP |
Ordinary NPV | CFD
| Long | 1841 | 4.85349809885932 GBP |
Ordinary NPV | CFD
| Long | 1445 | 4.78550173010381 GBP |
Ordinary NPV | CFD
| Long | 1226 | 4.78549755301794 GBP |
Ordinary NPV | CFD
| Long | 1222 | 4.80599836333879 GBP |
Ordinary NPV | CFD
| Long | 1149 | 4.77699738903394 GBP |
Ordinary NPV | CFD
| Long | 343 | 4.78551020408163 GBP |
Ordinary NPV | CFD
| Long | 341 | 4.77700879765396 GBP |
Ordinary NPV | CFD
| Long | 329 | 4.80598784194529 GBP |
Ordinary NPV | CFD
| Long | 517 | 4.85350096711799 GBP |
Ordinary NPV | CFD
| Long | 396 | 4.78550505050505 GBP |
Ordinary NPV | CFD
| Long | 2593 | 4.85350173544157 GBP |
Ordinary NPV | CFD
| Long | 1982 | 4.78549949545913 GBP |
Ordinary NPV | CFD
| Long | 1723 | 4.80599535693558 GBP |
Ordinary NPV | CFD
| Long | 1713 | 4.78549912434326 GBP |
Ordinary NPV | CFD
| Long | 1616 | 4.77699876237624 GBP |
Ordinary NPV | CFD
| Long | 4489 | 106.0028 ZAR |
Ordinary NPV | CFD
| Long | 739677 | 4.839861 GBP |
Ordinary NPV | CFD
| Long | 123426 | 4.830268 GBP |
Ordinary NPV | CFD
| Long | 35534 | 4.821125 GBP |
Ordinary NPV | CFD
| Long | 2735 | 4.84094 GBP |
Ordinary NPV | CFD
| Long | 246400 | 4.79185101461039 GBP |
Ordinary NPV | CFD
| Long | 161185 | 4.782 GBP |
Ordinary NPV | CFD
| Long | 85178 | 4.81448044 GBP |
Ordinary NPV | CFD
| Long | 350 | 4.78551428571429 GBP |
Ordinary NPV | CFD
| Long | 289 | 4.77698961937716 GBP |
Ordinary NPV | CFD
| Long | 309 | 4.80598705501618 GBP |
Ordinary NPV | CFD
| Long | 14593 | 4.82044938987186 GBP |
Ordinary NPV | CFD
| Long | 465 | 4.85350537634409 GBP |
Ordinary NPV | CFD
| Long | 301 | 4.78551495016611 GBP |
Ordinary NPV | CFD
| Long | 1324 | 4.85349697885196 GBP |
Ordinary NPV | CFD
| Long | 975 | 4.78549743589744 GBP |
Ordinary NPV | CFD
| Long | 880 | 4.7855 GBP |
Ordinary NPV | CFD
| Long | 866 | 4.77699769053118 GBP |
Ordinary NPV | CFD
| Long | 852 | 4.80599765258216 GBP |
Ordinary NPV | CFD
| Short | 345233 | 4.8422 GBP |
Ordinary NPV | CFD
| Short | 28045 | 4.832579 GBP |
Ordinary NPV | CFD
| Short | 23212 | 4.809978 GBP |
Ordinary NPV | CFD
| Short | 10172 | 4.83082186 GBP |
Ordinary NPV | CFD
| Short | 1695 | 4.83942183 GBP |
Ordinary NPV | CFD
| Short | 8283 | 4.817453 GBP |
Ordinary NPV | CFD
| Short | 240 | 4.785875 GBP |
Ordinary NPV | CFD
| Short | 8174721 | 4.7855 GBP |
Ordinary NPV | CFD
| Short | 18585 | 4.8206260022 GBP |
Ordinary NPV | CFD
| Short | 927 | 4.824517 GBP |
Ordinary NPV | CFD
| Short | 824 | 4.836982 GBP |
Ordinary NPV | CFD
| Short | 15850 | 106.9498 ZAR |
Ordinary NPV | CFD
| Short | 3605 | 105.42044105 ZAR |
Ordinary NPV | CFD
| Short | 4489 | 106.0028 ZAR |
Ordinary NPV | CFD
| Short | 1693 | 106.7051 ZAR |
Ordinary NPV | CFD
| Short | 1096 | 4.8306 GBP |
Ordinary NPV | CFD
| Short | 5734 | 105.53368 ZAR |
Ordinary NPV | CFD
| Short | 75392 | 105.43 ZAR |
Ordinary NPV | CFD
| Short | 420297 | 4.841427 GBP |
Ordinary NPV | CFD
| Short | 64404 | 105.82419834 ZAR |
Ordinary NPV | CFD
| Short | 38889 | 4.813319 GBP |
Ordinary NPV | CFD
| Short | 5124 | 105.533656 ZAR |
Ordinary NPV | CFD
| Short | 38005 | 106.30165241 ZAR |
Ordinary NPV | CFD
| Short | 53183 | 106.7026 ZAR |
Ordinary NPV | CFD
| Short | 1867 | 105.9719 ZAR |
Ordinary NPV | CFD
| Short | 214669 | 6.48607901 USD |
Ordinary NPV | CFD
| Short | 228816 | 4.842 GBP |
Ordinary NPV | CFD
| Short | 395548 | 4.77049711 GBP |
Ordinary NPV | CFD
| Short | 319015 | 4.77513747 GBP |
Ordinary NPV | CFD
| Short | 70803 | 4.788911 GBP |
Ordinary NPV | CFD
| Short | 161185 | 4.782 GBP |
Ordinary NPV | CFD
| Short | 12033 | 106.09695005 ZAR |
Ordinary NPV | CFD
| Short | 34556 | 4.832259 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 |
Ordinary NPV | Put | Purchasing | 400000 | 4.8 GBP | American | 18 September 2026 | 0.44 GBP |
Ordinary NPV | Call | Purchasing | 400000 | 5.2 GBP | American | 18 September 2026 | 0.345 GBP |
Ordinary NPV | Put | Selling | 400000 | 4.8 GBP | American | 18 September 2026 | 0.44 GBP |
Ordinary NPV | Call | Selling | 400000 | 5.2 GBP | American | 18 September 2026 | 0.345 GBP |
(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: | 15 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