BTG Pactual : Form 8.3 - Glencore International Plc

             BTG Pactual : Form 8.3 - Glencore International Plc

                                                                      FORM 8.3

           PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
   A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE -
                     SUPPLEMENTAL FORM 8 (OPEN POSITIONS)

                  Rule 8.3 of the Takeover Code (the "Code")

1.  KEY INFORMATION

(a)  Identity of the person whose                  BTG Pactual Europe LLP
positions/dealings are being disclosed:
(b)  Owner or controller of interests and short
positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies
is insufficient
(c)    Name of offeror/offeree in relation to   Glencore International Plc
whose relevant securities this form relates:
 Use a separate form for each offeror/offeree
(d)    If an exempt fund manager connected with
an offeror/offeree, state this and specify identity
of offeror/offeree:
(e)  Date position held/dealing undertaken:        15, March, 2013
(f)    Has the discloser previously disclosed,  Yes. Xstrata Plc
or are they today disclosing, under the Code in
respect of any other party to this offer?

2.    POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a)    Interests and short positions in the relevant securities of the
offeror or offeree to which the disclosure relates following the dealing (if
any)

Class of relevant security:                              0.01 ordinary
                                                   Interests   Short positions
                                                  Number   %     Number    %
(1)  Relevant securities owned and/or
controlled:
(2)  Derivatives (other than options):           114,873 0.01
(3)  Options and agreements to purchase/sell:     4,450  0.00
 TOTAL:                                          119,323 0.01

Class of relevant security:       5% guaranteed convertible bonds due December
                                                      2014
                                        Interests           Short positions
                                      Number        %       Number        %
(1)   Relevant securities  owned   41,000,000    1.78
and/or controlled:
(2)    Derivatives  (other  than 
options):
(3)  Options  and agreements  to 
purchase/sell:
 TOTAL:                            41,000,000    1.78

All interests and all short positions should be disclosed.

Details of any open derivative or option positions, or agreements to  purchase 
or sell relevant securities,  should be given on  a Supplemental Form 8  (Open 
Positions).

(b)    Rights to subscribe for new securities (including directors' and
other executive options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

If there are positions  or rights to  subscribe to disclose  in more than  one 
class of relevant  securities of the  offeror or offeree  named in 1(c),  copy 
table 2(a)  or (b)  (as appropriate)  for each  additional class  of  relevant 
security.

3.    DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

(a)  Purchases and sales

Class of relevant security Purchase/sale Number of securities Price per unit

(b)  Derivatives transactions (other than options)

Class of   Product            Nature of dealing           Number of  Price per
relevant description  e.g. opening/closing a long/short   reference    unit
security  e.g. CFD     position, increasing/reducing a    securities
                             long/short position
  0.01       CFD           reducing a long position        500,000    386.762
ordinary
  0.01       CFD          increasing a long position       250,000    390.071
ordinary

(c)  Options transactions in respect of existing securities

(i)  Writing, selling, purchasing or varying

Class of   Product    Writing,   Number of  Exercise   Type    Expiry  Option
relevant description purchasing, securities  price     e.g.     date   money
security  e.g. call   selling,    to which  per unit American,         paid/
           option      varying     option            European         received
                        etc.      relates              etc.           per unit

(ii)  Exercising

 Class of relevant  Product description      Number of      Exercise price per
     security        e.g. call option       securities             unit

(d)    Other dealings (including subscribing for new securities)

 Class of relevant       Nature of dealing     Details   Price per unit (if
      security          e.g. subscription,                   applicable)
                            conversion

The currency of all prices and other monetary amounts should be stated.

Where there have been dealings in  more than one class of relevant  securities 
of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d)  (as 
appropriate) for each additional class of relevant security dealt in.

4.  OTHER INFORMATION

(a)  Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or
understanding, formal or informal, relating to relevant securities which may
be an inducement to deal or refrain from dealing entered into by the person
making the disclosure and any party to the offer or any person acting in
concert with a party to the offer:
If there are no such agreements, arrangements or understandings, state "none"

(b)    Agreements, arrangements or understandings relating to options or
derivatives

Details of any agreement, arrangement or understanding, formal or informal,
between the person making the disclosure and any other person relating to:
(i)    the voting rights of any relevant securities under any option; or
(ii)    the voting rights or future acquisition or disposal of any
relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"

(c)  Attachments

Is a Supplemental Form 8 (Open Positions) attached? YES

        Date of disclosure: 18, March, 2012
        Contact name:       Eduardo Pinto
        Telephone number:   +55 21 3262 9663

Public disclosures under  Rule 8  of the  Code must  be made  to a  Regulatory 
Information Service  and  must  also  be emailed  to  the  Takeover  Panel  at 
monitoring@disclosure.org.uk.  The  Panel's   Market  Surveillance  Unit   is 
available for  consultation  in  relation to  the  Code's  dealing  disclosure 
requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk..
SUPPLEMENTAL FORM 8 (OPEN POSITIONS)

  DETAILS OF OPEN OPTION AND DERIVATIVE POSITIONS, AGREEMENTS TO PURCHASE OR
                                  SELL ETC.
            Note 5(i) on Rule 8 of the Takeover Code (the "Code")

1.  KEY INFORMATION

Identity of person whose open positions are being   BTG Pactual Europe LLP
disclosed:
Name of offeror/offeree in relation to whose        Glencore International Plc
relevant securities the disclosure relates:

2.  OPTIONS AND DERIVATIVES

Class of   Product   Written or     Number of     Exercise    Type     Expiry
relevant description purchased    securities to   price per   e.g.      date
security  e.g. call              which option or    unit    American,
           option                  derivative               European
                                     relates                  etc.
0.01     Call option purchased        2,000        420.000  American  06/21/13
ordinary
0.01     Call option purchased        2,450        380.000  American  06/21/13
ordinary

3.  AGREEMENTS TO PURCHASE OR SELL ETC.

Full details should be given  so that the nature  of the interest or  position 
can be fully understood:

It is not necessary to provide details on a Supplemental Form (Open Positions)
with regard to contracts for differences ("CFDs") or spread bets.

The currency of all prices and other monetary amounts should be stated.

The Panel's Market Surveillance Unit is available for consultation in relation
to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk

------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: BTG Pactual via Thomson Reuters ONE
HUG#1686081