Glencore declares currency distribution for 2H18
Published by Claire Cuddihy,
Global Mining Review,
As part of its 2H18 distribution, Anglo-Swiss mining company Glencore has declared that it will make a return of capital on 27 September 2018 to holders of record at the close of business on 7 September on the Jersey register.
This repayment, which was approved by shareholders on 2 May 2018, is of US$0.10 per ordinary share.
The repayment is to be made in US dollars (US$), although shareholders on the Jersey register have been able to elect to receive their distribution payments in Pounds Sterling (£), Euros (€) or Swiss Francs (CHf). Shareholders who hold via the Hong Kong Nominee will receive their distribution in Hong Kong Dollars (HK$).
The Pound Sterling, Euro and Swiss Franc amounts payable are determined by reference to the closing mid exchange rates applicable to the US dollar on 12 September 2018.
Yesterday, the following rates were published in the Financial Times guide to world currencies:
- £/US$ – 1.3023
- €/US$ - 1.1625
- US$/CHf – 0.9711
- US$/HK$ - 7.8488
Accordingly, for non-US dollar payments the amount payable per share on 27 September 2018 will be approximately:
- CHf 0.097110
- HK$ 0.784880
Read the article online at: https://www.globalminingreview.com/finance-business/14092018/glencore-declares-currency-distribution-for-2h18/
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