Glencore to continue with share buyback in 2015

24th Dec 2014 07:46

Glencore revealed that it would go ahead with its share buyback in 2015, with up to £120m repurchased by 24 March at the latest. The company had been mulling over whether to continue with the buyback earlier in the month, having launched the £600m programme in August."Glencore Plc has entered into an irrevocable agreement with Citigroup Global Markets Limited to continue its share buy-back programme next year to repurchase on its behalf ordinary shares of the company," the Swiss-based company said.It added that existing arrangements concerning the buy-back programme will continue during 2014.At a London analyst presentation on 10 December, chief financial officer Steven Kalmin said: "We are in as good a position as any to look at what we do in terms of continuation of buyback programs come 2015. But you are going to throw into the mix of course what we may do in some other opportunities that come up."