29th Jan 2026 11:20
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: | 28 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 Rio Tinto 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 | 805 | 111.3000 ZAR | 110.8681 ZAR |
5,416,389 | 5.1002 GBP | 5.0260 GBP | ||
| Sale | 805 | 111.3000 ZAR | 110.6930 ZAR | |
7,387,281 | 5.0960 GBP | 5.0170 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 | 890 | 5.0482 GBP |
180,755 | 5.0580 GBP | |||
1,701 | 5.0588 GBP | |||
976 | 5.0592 GBP | |||
1,144 | 5.0613 GBP | |||
90,092 | 5.0648 GBP | |||
9,767 | 5.0694 GBP | |||
3,027 | 5.0710 GBP | |||
300,000 | 5.0720 GBP | |||
59,203 | 5.0738 GBP | |||
3,509 | 110.7163 ZAR | |||
3,661 | 110.7918 ZAR | |||
757 | 110.9925 ZAR | |||
3,509 | 111.0189 ZAR | |||
123 | 111.1193 ZAR | |||
59,002 | 111.1640 ZAR | |||
6,470 | 111.1994 ZAR | |||
487 | 111.4976 ZAR | |||
3,386 | 111.5742 ZAR | |||
53,034 | 111.7145 ZAR | |||
Decrease Short | 6,746 | 5.0509 GBP | ||
936,751 | 5.0515 GBP | |||
799 | 5.0520 GBP | |||
600 | 5.0578 GBP | |||
1,849 | 5.0594 GBP | |||
175,342 | 5.0609 GBP | |||
3,748 | 5.0622 GBP | |||
28,151 | 5.0646 GBP | |||
55,380 | 5.0675 GBP | |||
395,950 | 5.0717 GBP | |||
13,853 | 5.0768 GBP | |||
10 | 5.0770 GBP | |||
9,842 | 5.0823 GBP | |||
6,746 | 5.0858 GBP | |||
42,209 | 5.0865 GBP | |||
18,700 | 5.0873 GBP | |||
191 | 110.2337 ZAR | |||
3,932 | 110.5235 ZAR | |||
2,257 | 110.6541 ZAR | |||
6,519 | 110.6995 ZAR | |||
3,661 | 110.7918 ZAR | |||
6,654 | 110.8056 ZAR | |||
3,345 | 110.8887 ZAR | |||
659 | 110.9844 ZAR | |||
6,045 | 111.0145 ZAR | |||
98 | 111.0300 ZAR | |||
10,527 | 111.0978 ZAR | |||
7,352 | 111.1799 ZAR | |||
5,130 | 111.1904 ZAR | |||
7,646 | 111.4648 ZAR | |||
487 | 111.4976 ZAR | |||
1,136 | 111.5024 ZAR | |||
2,886 | 111.5207 ZAR | |||
12,379 | 111.6666 ZAR | |||
53,034 | 111.7000 ZAR | |||
Increase Long | 43,534 | 5.0610 GBP | ||
5,492 | 5.0622 GBP | |||
22,638 | 5.0631 GBP | |||
20,564 | 5.0643 GBP | |||
5,007 | 5.0649 GBP | |||
222,519 | 5.0731 GBP | |||
193,085 | 5.0749 GBP | |||
109,279 | 5.0802 GBP | |||
23,603 | 5.0814 GBP | |||
256,102 | 5.0855 GBP | |||
25,741 | 110.8482 ZAR | |||
10,095 | 110.8713 ZAR | |||
6,403 | 110.9639 ZAR | |||
823 | 111.2620 ZAR | |||
9,249 | 111.3878 ZAR | |||
Increase Short | 8,569 | 5.0545 GBP | ||
723 | 5.0567 GBP | |||
43 | 5.0568 GBP | |||
2,321 | 5.0581 GBP | |||
105,155 | 5.0582 GBP | |||
34,237 | 5.0585 GBP | |||
16,750 | 5.0604 GBP | |||
46,793 | 5.0619 GBP | |||
18,766 | 5.0632 GBP | |||
6,451 | 5.0655 GBP | |||
18,000 | 5.0672 GBP | |||
131,160 | 5.0679 GBP | |||
7,600 | 5.0700 GBP | |||
827 | 5.0742 GBP | |||
32,219 | 5.0857 GBP | |||
14,945 | 5.1002 GBP | |||
10,095 | 110.8713 ZAR | |||
5,605 | 110.8731 ZAR | |||
1,001 | 111.2033 ZAR | |||
823 | 111.2620 ZAR | |||
657 | 111.2801 ZAR | |||
6,199 | 111.3800 ZAR | |||
1,034 | 111.5735 ZAR | |||
798 | 111.6017 ZAR | |||
358 | 111.7000 ZAR | |||
Opening a long position | 800 | 110.7728 ZAR | ||
99,694 | 111.2610 ZAR | |||
Opening a short position | 800 | 110.7728 ZAR | ||
23,500 | 110.7910 ZAR | |||
99,694 | 111.2610 ZAR | |||
2,241 | 111.4600 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: | 29 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