2022 H1 Distribution - determination of currency amounts

posted: 29/04/2022

Baar, Switzerland 
29 April 2022

Glencore confirms that:

  1. as approved by shareholders at yesterday’s AGM, it will make a return of capital on 20 May 2022 to holders of record on the Jersey register at the close of business on 22 April 2022. 
  2. this repayment is of US$0.13 per ordinary share and is to be made in US dollars, although shareholders on the Jersey register who have opted for a different currency by 25 April 2022 will receive their distribution payments in either Pounds Sterling, Euros or Swiss Francs. Shareholders who formerly held shares through the Computershare Hong Kong nominee will receive distribution payments in US dollars unless they elected to receive payments in either Swiss francs, Sterling or Euros, or subscribed to the global payment service to elect to receive payments in the currency of their choosing (including Hong Kong Dollars), by 25 April 2022. 
    Elections will remain in place until revoked by the shareholder.
  3. the Pound Sterling, Euro and Swiss Franc amounts payable are determined by reference to the closing mid exchange rates applicable to the US dollar on 28 April 2022. 

The following rates were published in the Financial Times guide to world currencies today: 

GBP/USD

EUR/USD USD/CHF
1.2440 1.0516 0.9716


Accordingly, for non-US dollar payments the amount payable per share on 20 May 2022 will be approximately:

Pounds Sterling

Euros Swiss Francs
0.104502 0.123621 0.12638


An announcement was made in South Africa on 19 April 2022 regarding the determination of the South African Rand amount payable in respect of shares on the Johannesburg register.

The distributions for 2022 are deemed “qualified dividends” for US Federal income tax purposes. Distributions paid by the Company constitute “qualified dividends” because the Company is a “qualified foreign corporation” for US Federal income tax purposes.

For further information please contact:

Investors

Martin Fewings    
t: +41 41 709 28 80    
m: +41 79 737 56 42    
martin.fewings@glencore.com

Media

Charles Watenphul
t: +41 41 709 24 62    
m: +41 79 904 33 20    
charles.watenphul@glencore.com

Company Secretarial            

John Burton    
t: +41 41 709 26 19    
m: +41 79 944 54 34    
john.burton@glencore.com

Nicola Leigh    
t: +41 41 709 27 55    
m: +41 79 735 39 16    
nicola.leigh@glencore.com

Lionel Mateo    
t: +41 41 709 28 47    
m: +41 79 152 09 05    
lionel.mateo@glencore.com

Glencore LEI: 2138002658CPO9NBH955

Notes for Editors

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly - sourced commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that enable decarbonisation while meeting the energy needs of today. 

Glencore companies employ around 135,000 people, including contractors. With a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 40 offices. 

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.

Glencore recognises our responsibility to contribute to the global effort to achieve the goals of the Paris Agreement. Our ambition is to be a net zero total emissions company by 2050. In August 2021, we increased our medium-term emission reduction target to a 50% reduction by 2035 and introduced a new short-term target of a 15% reduction by 2026.

Disclaimer
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words “we”, “us” and “our” are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.