Anglo American Plc has announced the proposed demerger of the Group’s interest in Anglo American Platinum Limited (“AAP”).
AAP is a South African domiciled and tax resident producer of platinum group metals. AAP is also proceeding with the admission of its shares to the International Secondary Listing category of the Official List of the UK Financial Conduct Authority and to trading on the London Stock Exchange`s Main Market for listed securities which will be in addition to its existing primary listing on the Johannesburg Stock Exchange.
In order for the proposed demerger to be implemented, Anglo American shareholder approval will be sought at a General Meeting to be held on 30 April 2025. If the ordinary resolution is approved, it is expected that the effective date for the demerger will be 31 May 2025 and AAP UK Admission will occur on 2 June 2025.
Under the terms of the demerger, shareholders will receive 110 AAP shares for every 1,075 Anglo American shares that they hold.
In conjunction with the demerger, Anglo American intends to carry out a share consolidation. This is intended to provide consistency in the Anglo American share price before and after the demerger process. The share consolidation ratio will be determined on the basis of the relative three month volume-weighted average share prices for Anglo American and AAP, as adjusted for its proposed additional dividend, up to the day prior to the ratio being announced on 20 May 2025. The effective date for the share consolidation is expected to be 1 June 2025 and unconditional dealings in the consolidated shares is expected to commence on the LSE and the JSE on 2 June 2025.
If you require any further information, you may contact us either by letter, telephone or email as detailed below quoting ‘Anglo American’ in the subject box.
Corporate Action Administration
Direct Line – 0161-819-4850 | Email: caisa@pilling.co.uk