29th Jan 2026 11:58
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: | 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
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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
| 4030418 | 5.13000 GBP | 3.52734 GBP |
Ordinary NPV | Sell
| 10076672 | 5.14000 GBP | 5.04048 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 | 11688 | 5.092 GBP |
Ordinary NPV | CFD
| Long | 1025 | 5.088 GBP |
Ordinary NPV | CFD
| Long | 91 | 5.078 GBP |
Ordinary NPV | CFD
| Long | 285 | 5.079 GBP |
Ordinary NPV | CFD
| Long | 7407 | 5.0895 GBP |
Ordinary NPV | CFD
| Long | 926 | 5.083 GBP |
Ordinary NPV | CFD
| Long | 4495 | 5.082 GBP |
Ordinary NPV | CFD
| Long | 3825 | 5.064 GBP |
Ordinary NPV | CFD
| Long | 629 | 5.0725 GBP |
Ordinary NPV | CFD
| Long | 9398 | 5.098465 GBP |
Ordinary NPV | CFD
| Long | 432 | 5.07 GBP |
Ordinary NPV | CFD
| Long | 820 | 5.08 GBP |
Ordinary NPV | CFD
| Long | 12457 | 5.075 GBP |
Ordinary NPV | CFD
| Long | 1480 | 5.077 GBP |
Ordinary NPV | CFD
| Long | 415 | 5.086 GBP |
Ordinary NPV | CFD
| Long | 620 | 5.081 GBP |
Ordinary NPV | CFD
| Long | 567 | 5.076 GBP |
Ordinary NPV | CFD
| Long | 353991 | 5.078847 GBP |
Ordinary NPV | CFD
| Long | 4245 | 5.061 GBP |
Ordinary NPV | CFD
| Long | 130 | 5.065 GBP |
Ordinary NPV | CFD
| Long | 2342 | 5.0605 GBP |
Ordinary NPV | CFD
| Long | 151 | 5.057 GBP |
Ordinary NPV | CFD
| Long | 95 | 5.067505 GBP |
Ordinary NPV | CFD
| Long | 2393 | 5.046 GBP |
Ordinary NPV | CFD
| Long | 288 | 5.05 GBP |
Ordinary NPV | CFD
| Long | 273 | 5.0743956 GBP |
Ordinary NPV | CFD
| Long | 20853 | 5.075313 GBP |
Ordinary NPV | CFD
| Long | 687 | 5.07952 GBP |
Ordinary NPV | CFD
| Long | 433 | 5.078924 GBP |
Ordinary NPV | CFD
| Long | 366 | 5.0770765 GBP |
Ordinary NPV | CFD
| Long | 156 | 5.064616 GBP |
Ordinary NPV | CFD
| Long | 6701582 | 5.084692 GBP |
Ordinary NPV | CFD
| Long | 221500 | 5.0794562979684 GBP |
Ordinary NPV | CFD
| Long | 174029 | 5.07152121 GBP |
Ordinary NPV | CFD
| Long | 4528 | 5.07819778515901 GBP |
Ordinary NPV | CFD
| Long | 32 | 5.083125 GBP |
Ordinary NPV | CFD
| Long | 101 | 5.0829702970297 GBP |
Ordinary NPV | CFD
| Long | 85 | 5.08305882352941 GBP |
Ordinary NPV | CFD
| Long | 16 | 5.06375 GBP |
Ordinary NPV | CFD
| Long | 183 | 5.08300546448087 GBP |
Ordinary NPV | CFD
| Long | 72 | 5.06402777777778 GBP |
Ordinary NPV | CFD
| Long | 800 | 110.7728 ZAR |
Ordinary NPV | CFD
| Long | 1878 | 111.28416933 ZAR |
Ordinary NPV | CFD
| Long | 280487 | 5.073 GBP |
Ordinary NPV | CFD
| Long | 320400 | 5.058 GBP |
Ordinary NPV | CFD
| Long | 6336 | 110.86697443 ZAR |
Ordinary NPV | CFD
| Long | 20543 | 111.03174512 ZAR |
Ordinary NPV | CFD
| Long | 528 | 111.00791667 ZAR |
Ordinary NPV | CFD
| Long | 99694 | 111.261 ZAR |
Ordinary NPV | CFD
| Long | 32539 | 111.4382 ZAR |
Ordinary NPV | CFD
| Long | 3607 | 111.5159 ZAR |
Ordinary NPV | CFD
| Long | 182005 | 111.07484673 ZAR |
Ordinary NPV | CFD
| Long | 3760 | 5.084 GBP |
Ordinary NPV | CFD
| Long | 681 | 5.0805 GBP |
Ordinary NPV | CFD
| Long | 573 | 5.0755 GBP |
Ordinary NPV | CFD
| Long | 5736 | 5.094 GBP |
Ordinary NPV | CFD
| Short | 1462 | 110.872372 ZAR |
Ordinary NPV | CFD
| Short | 20543 | 111.03174512 ZAR |
Ordinary NPV | CFD
| Short | 15965 | 5.070771 GBP |
Ordinary NPV | CFD
| Short | 6671 | 5.07642 GBP |
Ordinary NPV | CFD
| Short | 433 | 5.080076 GBP |
Ordinary NPV | CFD
| Short | 603 | 5.069136 GBP |
Ordinary NPV | CFD
| Short | 528 | 111.00791667 ZAR |
Ordinary NPV | CFD
| Short | 4528 | 5.058 GBP |
Ordinary NPV | CFD
| Short | 3020 | 5.067869999 GBP |
Ordinary NPV | CFD
| Short | 207 | 5.070458 GBP |
Ordinary NPV | CFD
| Short | 2597 | 5.058013 GBP |
Ordinary NPV | CFD
| Short | 297536 | 5.08567972 GBP |
Ordinary NPV | CFD
| Short | 7 | 5.04 GBP |
Ordinary NPV | CFD
| Short | 2 | 5.075 GBP |
Ordinary NPV | CFD
| Short | 1 | 5.08 GBP |
Ordinary NPV | CFD
| Short | 37211 | 5.08491656 GBP |
Ordinary NPV | CFD
| Short | 3607 | 111.5159 ZAR |
Ordinary NPV | CFD
| Short | 99694 | 111.261 ZAR |
Ordinary NPV | CFD
| Short | 6336 | 110.86697443 ZAR |
Ordinary NPV | CFD
| Short | 232661 | 6.98301694 USD |
Ordinary NPV | CFD
| Short | 8250 | 5.05801 GBP |
Ordinary NPV | CFD
| Short | 800 | 110.7728 ZAR |
Ordinary NPV | CFD
| Short | 1878 | 111.28416933 ZAR |
Ordinary NPV | CFD
| Short | 182005 | 111.07484673 ZAR |
Ordinary NPV | CFD
| Short | 18680 | 111.464849 ZAR |
Ordinary NPV | CFD
| Short | 12397 | 111.464867 ZAR |
Ordinary NPV | CFD
| Short | 452 | 5.06910009 GBP |
Ordinary NPV | CFD
| Short | 21587 | 5.07201929 GBP |
Ordinary NPV | CFD
| Short | 1876111 | 5.07521938 GBP |
Ordinary NPV | CFD
| Short | 192 | 5.06880012 GBP |
Ordinary NPV | CFD
| Short | 3160 | 5.058012 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 |
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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: | 29 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