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Glencore PLC - Baar, Switzerland-based commodity trader and miner - Cancels 500 million shares in treasury to reduce numbers below 10% of total shared capital. The company has seen a build-up in treasury shares due to various buyback programmes. The total number of shares in treasury stands at 1.08 billion, representing about 8.4% of the company's total issued share capital.
Glencore is adopting a policy to reduce and maintain their treasury shares below 10% of total issued share capital from time to time. The total number of shares, less treasury shares, is 12.99 billion. In August, the group announced a new $3.0 billion buyback plan. Treasury shares are a portion of stock that a company keeps in its own treasury.
Current London stock price: 487.45 pence, down 0.1% on Friday afternoon
12-month change: down 23%
Current Johannesburg stock price: R 99.74, down 0.4%
12-month change: up 28%
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