NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES
BAAR, Switzerland, Nov. 09, 2022 (GLOBE NEWSWIRE) -- On November 8, 2022, Glencore International AG, a wholly-owned subsidiary of Glencore plc (together, “Glencore”), completed the subscription for 29,208,892 ordinary shares (“Ordinary Shares”) in the capital of Horizonte Minerals PLC (“HZM”) at an issue price of £0.905 per new Ordinary Share (representing a 9% discount to the closing trading price of £0.995 per share on the AIM market of the London Stock Exchange on November 4, 2022) or C$1.38 per share (based on the daily rate of exchange published by the Bank of Canada on November 4, 2022 of GBP1.00 = C$1.5278), for an aggregate subscription price of US$30,000,000 (based on an exchange rate of GBP1.00 = US$1.1349) or C$40,551,000 (based upon the daily rate of exchange published by the Bank of Canada on November 4, 2022 of US$1.00 = C$1.3517) (the “Transaction”).
The Transaction was completed as part of HZM’s private placing of 48,681,487 new Ordinary Shares to certain existing and new institutional investors and others and allotment of an aggregate of 29,264,140 Ordinary Shares to Glencore and certain related parties of HZM.
Immediately prior to completing the Transaction, Glencore owned and exercised control over 18,662,914 Ordinary Shares, representing approximately 9.80% of the issued and outstanding Ordinary Shares at such time.
After giving effect to the Transaction, Glencore now owns and controls a total of 47,871,806 Ordinary Shares, representing approximately 17.84% of the issued and outstanding Ordinary Shares.
Glencore’s decision to complete the Transaction was made in the context of its overall investment purposes. Glencore will continue to review its investment alternatives from time to time and may determine to increase or decrease its equity ownership in HZM through the acquisition or sale of additional outstanding common shares or other securities of HZM through open market or privately negotiated transactions in accordance with applicable securities laws.
The head office of HZM is located at Rex House, 4-12 Regent Street, London, SW1Y 4RG, United Kingdom.
The head office of Glencore is located at Baarermattstrasse 3, CH-6340 Baar, Switzerland.
This news release does not constitute an offer to sell, nor the solicitation of an offer to buy, the securities in any jurisdiction; nor shall there be any sale of securities mentioned in this news release in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
This news release is being issued pursuant to National Instrument 62-103, persons who wish to obtain a copy of the early warning report to be filed by Glencore in connection with this transaction may obtain a copy of such report from www.sedar.com or by contacting the persons named below.
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
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 its 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 on 2019 levels and introduced a new short-term target of a 15% reduction by 2026 on 2019 levels.
