22nd Jan 2026 11:36
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: | 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, 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 | 14,950 | 109.2814 ZAR | 106.1637 ZAR |
30,017,660 | 5.0180 GBP | 4.8460 GBP | ||
| Sale | 14,950 | 109.5300 ZAR | 106.7228 ZAR | |
29,233,534 | 5.0139 GBP | 4.8460 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 | 249,827 | 4.9172 GBP |
8,844 | 4.9512 GBP | |||
23,983 | 4.9845 GBP | |||
290,906 | 5.0000 GBP | |||
12,939 | 5.0002 GBP | |||
30,374 | 5.0018 GBP | |||
8,642 | 107.0489 ZAR | |||
39,682 | 108.7540 ZAR | |||
15,930 | 108.7653 ZAR | |||
7,040 | 109.0093 ZAR | |||
3,669 | 109.2747 ZAR | |||
4,204 | 109.2901 ZAR | |||
242 | 109.6124 ZAR | |||
Decrease Short | 9,475 | 4.9129 GBP | ||
6,781 | 4.9561 GBP | |||
6,800 | 4.9714 GBP | |||
911,581 | 4.9754 GBP | |||
18,532 | 4.9840 GBP | |||
5,612 | 4.9879 GBP | |||
17,420 | 4.9937 GBP | |||
200,000 | 4.9941 GBP | |||
19,461 | 4.9944 GBP | |||
69,974 | 4.9946 GBP | |||
77,038 | 4.9958 GBP | |||
782,930 | 4.9962 GBP | |||
10,361 | 4.9968 GBP | |||
191,142 | 4.9975 GBP | |||
14,264 | 4.9985 GBP | |||
17 | 4.9992 GBP | |||
1 | 4.9995 GBP | |||
242,994 | 4.9996 GBP | |||
2,329 | 4.9998 GBP | |||
10,313 | 106.7162 ZAR | |||
8,642 | 107.0275 ZAR | |||
1,547 | 108.0597 ZAR | |||
14,383 | 108.8412 ZAR | |||
7,040 | 109.0093 ZAR | |||
1,715 | 109.2638 ZAR | |||
3,669 | 109.2747 ZAR | |||
4,204 | 109.2901 ZAR | |||
76 | 109.3100 ZAR | |||
19,065 | 109.4576 ZAR | |||
2,557 | 109.4960 ZAR | |||
4,692 | 109.5053 ZAR | |||
1,340 | 109.7288 ZAR | |||
166 | 109.7300 ZAR | |||
Increase Long | 33,504 | 4.9401 GBP | ||
12,304 | 4.9885 GBP | |||
51,337 | 4.9933 GBP | |||
145,107 | 4.9934 GBP | |||
2,011 | 4.9955 GBP | |||
7,948 | 4.9999 GBP | |||
306,763 | 5.0000 GBP | |||
912 | 108.2930 ZAR | |||
9,798 | 108.6382 ZAR | |||
39,456 | 108.9185 ZAR | |||
15,276 | 109.1603 ZAR | |||
266 | 109.3100 ZAR | |||
28,838 | 109.3807 ZAR | |||
8,916 | 109.3972 ZAR | |||
Increase Short | 9,945 | 4.8683 GBP | ||
383,801 | 4.8799 GBP | |||
62,280 | 4.9454 GBP | |||
37,438 | 4.9704 GBP | |||
44,784 | 4.9785 GBP | |||
346,829 | 4.9813 GBP | |||
37,543 | 4.9814 GBP | |||
632 | 4.9825 GBP | |||
66,551 | 4.9983 GBP | |||
1,018 | 4.9990 GBP | |||
1,634,555 | 5.0000 GBP | |||
2,152 | 5.0001 GBP | |||
10,855 | 5.0002 GBP | |||
6,781 | 5.0007 GBP | |||
35 | 5.0010 GBP | |||
78,895 | 5.0014 GBP | |||
9,898 | 5.0021 GBP | |||
9,523 | 5.0023 GBP | |||
3 | 5.0025 GBP | |||
218,708 | 5.0151 GBP | |||
444,125 | 6.7188 GBP | |||
2,503 | 107.5142 ZAR | |||
11,953 | 107.8162 ZAR | |||
2,302 | 108.2034 ZAR | |||
912 | 108.2931 ZAR | |||
12,212 | 109.0164 ZAR | |||
15,276 | 109.1603 ZAR | |||
1,300 | 109.1945 ZAR | |||
4,408 | 109.2225 ZAR | |||
11,347 | 109.2553 ZAR | |||
532 | 109.3100 ZAR | |||
6,138 | 109.3569 ZAR | |||
284 | 109.3700 ZAR | |||
2,560 | 109.3949 ZAR | |||
384 | 109.4000 ZAR | |||
4,133 | 109.4027 ZAR | |||
2,178 | 109.4336 ZAR | |||
1,460 | 109.4494 ZAR | |||
1,788 | 109.4500 ZAR | |||
38 | 109.4800 ZAR | |||
2,362 | 109.5124 ZAR | |||
730 | 109.5523 ZAR | |||
4,131 | 109.5892 ZAR | |||
3,093 | 109.6637 ZAR | |||
715 | 109.8219 ZAR | |||
308 | 109.8275 ZAR | |||
5,364 | 109.8565 ZAR | |||
384 | 109.9200 ZAR | |||
4,667 | 109.9387 ZAR | |||
Opening a long position | 6,300 | 4.9954 GBP | ||
Opening a short position | 8,700 | 4.9583 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 |
(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
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| Date of disclosure: | 22 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