GLN.JO
Glencore plc News
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"title": "🔒 Top Glencore shareholders rally to retain coal assets",
"description": "As Glencore Plc contemplates a spinoff of its coal assets, a chorus of its top shareholders is singing a different tune.",
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"snippet": "As Glencore Plc contemplates a spinoff of its coal assets, a chorus of its top shareholders is singing a different tune. In a strategic twist, major stakeholder...",
"url": "https://www.biznews.com/global-investing/2024/04/30/glencore-rally-retain-coal-assets",
"image_url": "https://www.biznews.com/wp-content/uploads/2022/10/Glencore.jpg",
"language": "en",
"published_at": "2024-04-30T09:12:23.000000Z",
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"highlight": "As <em>Glencore</em> <em>Plc</em> contemplates a spinoff of its coal assets, a chorus of its top shareholders is singing a different tune. In a strategic twist, major stakeholders, including former CEO Ivan Glasenberg and heavyweight investors like the Qatar Investment Authority and BlackRock Inc., are advocating for retaining the coal business.",
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"highlight": "By Thomas Biesheuvel, Dinesh Nair and Jack Farchy\n\nSeveral of <em>Glencore</em> Plc’s largest shareholders believe that the company should retain its coal assets, according to people familiar with the matter, throwing a proposed spinoff into doubt.",
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"highlight": "___STEADY_PAYWALL___\n\n<em>Glencore</em>, the world’s largest shipper of thermal coal with a market capitalization of about $73 billion, had said it intended to spin the business off within two years of closing a deal to buy the steelmaking coal assets of Teck Resources Ltd.",
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"highlight": "But major <em>Glencore</em> shareholders believe that the company would be better off retaining its coal business, the people said, asking not to be identified because the information is private. The company’s largest shareholders are former Chief Executive Officer Ivan Glasenberg, the Qatar Investment Authority, and BlackRock Inc.",
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"highlight": "It’s not clear when and in what form <em>Glencore</em> might put the spinoff to a shareholder vote, with the deal to buy Teck’s coal business yet to close. The shareholders will only form a final view once there is a concrete proposal on the table, and their stance could still evolve, the people cautioned.",
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"highlight": "While <em>Glencore</em> announced its intention to spin off its coal assets when it agreed to the Teck deal in November, it has since then made clear that the separation would only go ahead if shareholders wanted it.\n\nA <em>Glencore</em> spokesperson referred to comments made by CEO Nagle in February.",
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"highlight": "In 2020, Norway’s sovereign wealth fund said it had sold its <em>Glencore</em> stake due to the company’s exposure to thermal coal.\n\nWhen he unveiled the deal to buy Teck’s coal assets in November, Nagle argued that a spinoff made sense because Glencore’s coal and metals businesses would attract higher valuations as separate businesses than as one.",
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"highlight": "Glasenberg, the company’s largest shareholder according to data compiled by Bloomberg, rose to become <em>Glencore</em> CEO after running the company’s coal business and has long been a fan of the commodity.\n\nOther shareholders like QIA also appreciate the cash flows that coal brings.",
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"uuid": "46266f3f-054c-4407-b07d-6737e1cfc4e1",
"title": "Li Cycle : NOTICE TO READER",
"description": "NOTICE TO READER\n \n \n \n \n \n The Company previously qualified as a foreign private issuer under applicable U.S. securities laws and on January 1, 2024, became subject to...",
"keywords": "Markets",
"snippet": "NOTICE TO READER\n\n\n\n\n\nThe Company previously qualified as a \"foreign private issuer\" under applicable U.S. securities laws and on January 1, 2024, became subjec...",
"url": "https://www.marketscreener.com/quote/stock/LI-CYCLE-HOLDINGS-CORP-125758618/news/Li-Cycle-NOTICE-TO-READER-Form-8-K-46569548/",
"image_url": "https://www.marketscreener.com/images/twitter_MS_fdnoir.png",
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"published_at": "2024-04-29T21:29:46.000000Z",
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"highlight": "Related-Party Revenue\n\nThe Company has agreements with <em>Glencore</em>, pursuant to which <em>Glencore</em> purchases for its internal consumption or on-sale to third party end customers, certain by-products produced at the Company's Spokes, including shredded metal.",
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"highlight": "Product revenue from <em>Glencore</em> was $0.9 million for the three months ended March 31, 2023 ($0.4 million for the three months ended March 31, 2022, respectively). Trade receivables from <em>Glencore</em> as of March 31, 2023 were $0.7 million ($0.3 million as of December 31, 2022).",
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"highlight": "On May 31, 2022, the Company entered into agreements with <em>Glencore</em>, pursuant to which <em>Glencore</em> earns (i) sourcing fees on feed purchased for the Company's Spokes; and (ii) marketing fees on the sale of Black Mass & Equivalents sold to third parties.",
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"highlight": "Sourcing fees and marketing fees payable to <em>Glencore</em> as of March 31, 2023 were $nil (December 31, 2022: $nil).\n\n13.",
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{
"highlight": "Note\") for a principal amount of $200 million to <em>Glencore</em> Ltd.",
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{
"highlight": "(\"<em>Glencore</em>\"), a subsidiary of <em>Glencore</em> <em>plc</em> (LON: GLEN). The <em>Glencore</em> Note will mature on May 31, 2027 unless there is an earlier repurchase, redemption or conversion. Interest on the <em>Glencore</em> Note is payable semi-annually, with Li-Cycle permitted to pay interest on the <em>Glencore</em> Note in cash or by payment in-kind (\"PIK\"), at its election.",
"sentiment": 0.8126,
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"highlight": "The PIK election results in the issuance of a new note under the same terms as the initial <em>Glencore</em> Note, issued in lieu of interest payments with an issuance date on the applicable interest date. The effective interest rate of the <em>Glencore</em> Note is 13.5%.",
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"highlight": "The <em>Glencore</em> Note and the PIK notes issued thereunder are referred to collectively as the \"<em>Glencore</em> Convertible Notes\", and as at March 31, 2023, comprised the following:\n\nNote Date Issued Amount Issued <em>Glencore</em> Convertible Note May 31, 2022 $ 200.0 PIK Note November 30, 2022 8.1 Total $ 208.1\n\nAt the option of the holder, the <em>Glencore</em> Convertible Notes",
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"highlight": "In connection with any optional redemption and provided that <em>Glencore</em> has not elected to convert the <em>Glencore</em> Note into common shares, the Company must issue warrants (the \"<em>Glencore</em> Warrants\") to <em>Glencore</em> on the optional redemption date that entitle the holder to acquire, until the maturity date of the <em>Glencore</em> Note, a number of common shares equal",
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"highlight": "to the principal amount of the <em>Glencore</em> Note being redeemed divided by the then applicable conversion price.",
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Exchange
- Johannesburg Stock Exchange
- equity
- Basic Materials
- za