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Annual Financial Report and Notice of AGM
Anglo American plc (the “Company”)
Registered office: 20 Carlton House Terrace, London SW1Y 5AN
Registered number: 3564138 (incorporated in England and Wales)
Legal Entity Identifier: 549300S9XF92D1X8ME43
ISIN: GBOOB1XZS820
JSE Share Code: AGL
NSX Share Code: ANM
8 March 2021
ANNUAL FINANCIAL REPORT AND NOTICE OF AGM
In accordance with Listing Rule 9.6 and Disclosure Guidance and Transparency Rule (“DTR”) 4.1, the
Company announces that the following documents are today published on its website:
www.angloamerican.com
• Integrated Annual Report for the year ended 31 December 2020 (the “2020 Annual Report”)
• Notice of the 2021 Annual General Meeting (“AGM”) to be held on 5 May 2021
• Sustainability Report 2020
The 2020 Annual Report, Notice of the 2021 AGM and the 2021 AGM proxy form (“Proxy Form”) have
been submitted to the Financial Conduct Authority via the National Storage Mechanism and will
shortly be made available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
The above mentioned documents (except for the Proxy Form) are available on our website at
www.angloamerican.com/investors/annual-reporting and
www.angloamerican.com/investors/shareholder-information/agm/agm2021 respectively, and will be
posted to shareholders on 22 March 2021. Shareholders can obtain additional copies of the Proxy
Form from our Registrar, Equiniti Limited at Aspect House, Spencer Road, Lancing, West Sussex
BN99 6DA or view online at www.shareview.co.uk.
This announcement should be read in conjunction with the Company’s Preliminary Results
announcement issued on 25 February 2021. Together these constitute the material required by DTR
6.3.5 to be communicated to the media in full unedited text through a Regulatory Information Service.
This material is not a substitute for reading the Company’s 2020 Annual Report. Page references and
references to notes to the financial statements, refer to those contained in the 2020 Annual Report.
An indication of the important events that occurred in 2020 and their impact on the consolidated
financial statements and the consolidated financial statements themselves were announced to the
London Stock Exchange on 25 February 2021, forming part of the Preliminary Results announcement
for the year ended 31 December 2020. Additional content forming part of the management report are
set out in the appendices to this announcement.
Clare Davage
Deputy Company Secretary
Anglo American is a leading global mining company and our products are the essential ingredients in
almost every aspect of modern life. Our portfolio of world-class competitive operations, development
projects and undeveloped resources, provides many of the metals and minerals that enable a cleaner,
greener, more sustainable world and that meet the fast growing consumer-driven demands of
developed and maturing economies. With our people at the heart of our business, we use innovative
practices and the latest technologies to mine, process, move and market our products to our customers
– and to discover new resources – safely and sustainably.
As a responsible producer of diamonds (through De Beers), copper, platinum group metals, the
steelmaking ingredients of iron ore and metallurgical coal, and nickel – with crop nutrients in
development and thermal coal operations planned for divestment – we are committed to being carbon
neutral across our operations by 2040. We work together with our business partners and diverse
stakeholders to unlock sustainable value from precious natural resources for the benefit of the
communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo
American is re-imagining mining to improve people’s lives.
www.angloamerican.com
Forward-looking statements and third-party information
This announcement includes forward-looking statements. All statements other than statements of historical facts included in
this document, including, without limitation, those regarding Anglo American’s financial position, business, acquisition and
divestment strategy, dividend policy, plans and objectives of management for future operations (including development plans
and objectives relating to Anglo American’s products, production forecasts and Ore Reserves and Mineral Resource estimates)
and environmental, social and corporate governance goals and aspirations, are forward-looking statements. By their nature,
such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Anglo American, or industry results, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking statements.
Such forward-looking statements are based on numerous assumptions regarding Anglo American’s present and future
business strategies and the environment in which Anglo American will operate in the future. Important factors that could cause
Anglo American’s actual results, performance or achievements to differ materially from those in the forward-looking statements
include, among others, levels of actual production during any period, levels of global demand and commodity market prices,
mineral resource exploration and development capabilities, recovery rates and other operational capabilities, safety, health or
environmental incidents, the effects of global pandemics and outbreaks of infectious diseases, the outcome of litigation or
regulatory proceedings, the availability of mining and processing equipment, the ability to produce and transport products
profitably, the availability of transportation infrastructure, the impact of foreign currency exchange rates on market prices and
operating costs, the availability of sufficient credit, the effects of inflation, political uncertainty and economic conditions in
relevant areas of the world, the actions of competitors, activities by courts, regulators and governmental authorities such as in
relation to permitting or forcing closure of mines and ceasing of operations or maintenance of Anglo American’s assets and
changes in taxation or safety, health, environmental or other types of regulation in the countries where Anglo American
operates, conflicts over land and resource ownership rights and such other risk factors identified in the section of this document
titled ‘Managing Risk Effectively’. Forward-looking statements should, therefore, be construed in light of such risk factors and
undue reliance should not be placed on forward-looking statements.
These forward-looking statements speak only as of the date of this document. Anglo American expressly disclaims any
obligation or undertaking (except as required by applicable law, the City Code on Takeovers and Mergers, the UK Listing
Rules, the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Listings Requirements of the
securities exchange of the JSE Limited in South Africa, the SIX Swiss Exchange, the Botswana Stock Exchange and the
Namibian Stock Exchange and any other applicable regulations) to release publicly any updates or revisions to any forward-
looking statement contained herein to reflect any change in Anglo American’s expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is based. Nothing in this document should be interpreted to
mean that future earnings per share of Anglo American will necessarily match or exceed its historical published earnings per
share. Certain statistical and other information about Anglo American included in this document is sourced from publicly
available third-party sources. As such, it has not been independently verified and presents the views of those third parties,
though these may not necessarily correspond to the views held by Anglo American and Anglo American expressly disclaims
any responsibility for, or liability in respect of, such information.
APPENDIX A – Principal risks
We define a principal risk as a risk or combination of risks that would threaten the business model,
future performance, solvency or liquidity of Anglo American. In addition to these principal risks, we
continue to be exposed to other risks related to currency, inflation, community relations, environment,
litigation and regulatory proceedings, changing social expectations, infrastructure and human
resources. These risks are subject to our normal procedures to identify, implement and oversee
appropriate mitigation actions, supported by internal audit work to provide assurance over the status
of controls or mitigating actions. These principal risks are considered over the next three years as a
minimum, but we recognise that many of them will be relevant for a longer period.
For more on Principal risks see pages 54 – 57
Catastrophic risks
We also face certain risks that we deem catastrophic risks. These are very high severity, very low
likelihood events that could result in multiple fatalities or injuries, an unplanned fundamental change
to strategy or the way we operate and have significant financial consequences. We do not consider
likelihood when assessing these risks, as the potential impacts mean these risks must be treated as a
priority. Catastrophic risks are included as principal risks.
For more on catastrophic risks see page 54
Risk appetite
We define risk appetite as ‘the nature and extent of risk Anglo American is willing to accept in relation
to the pursuit of its objectives’. We look at risk appetite from the context of severity of the
consequences should the risk materialise, any relevant internal or external factors influencing the risk,
and the status of management actions to mitigate or control the risk. A scale is used to help determine
the limit of appetite for each risk, recognising that risk appetite will change over time.
If a risk exceeds appetite, it will threaten the achievement of objectives and may require a change to
strategy. Risks that are approaching the limit of the Group’s risk appetite may require management
actions to be accelerated or enhanced to ensure the risks remain within appetite levels.
For catastrophic and operational risks, our risk appetite for exceptions or deficiencies in the status of
our controls that have safety implications is very low. Our internal audit programme evaluates these
controls with technical experts at operations and the results of that audit work will determine the risk
appetite evaluation, along with the management response to any issues identified.
For more on the risk management and internal control systems and the review of their effectiveness
See pages 121-122
Summary
Our risk profile evolved in 2020, largely as a result of the Covid-19 pandemic, which continues to have
a significant impact on global society. No new significant risks were identified as a result of the
pandemic; however, the likelihood and/or severity of a number of existing unwanted events that could
impact Anglo American was reassessed. We elevated pandemic health risk to a principal risk in early
2020 as a result of the emerging Covid-19 threat.
Our catastrophic risks are the highest priority risks, given the potential consequences.
1. Catastrophic risks
We are exposed to the Impact: Multiple fatalities and Risk movement: No change.
following risks we deem as injuries, damage to assets,
potentially catastrophic: environmental damage, Risk appetite: Operating within
tailings dam failure; slope production loss, reputational the limits of our appetite.
wall failure; mineshaft damage and loss of licence to
failure; and fire and operate. Financial costs Commentary: These very high
explosion. associated with recovery and impact but very low frequency risks
liability claims may be are treated with the highest
Root cause: Any of these risks significant. Regulatory issues priority.
may result from inadequate may result and community
design or construction, adverse relations may be affected.
geological conditions,
shortcomings in operational Mitigation: Technical
performance, natural events standards exist that provide
such as seismic activity or minimum criteria for design
flooding, and failure of and operational performance
structures or machinery and requirements, the
equipment. implementation of which is
regularly inspected by
technical experts. Additional
assurance work is conducted
to assess the adequacy of
controls associated with these
risks.
2. Product prices
Global macro-economic Impact: Low product prices Risk movement: Increased since
conditions leading to can result in lower levels of 2019.
sustained low product prices cash flow, profitability and
and/or volatility. valuation. Debt costs may rise Risk appetite: Operating within
owing to ratings agency the limits of our appetite.
Root cause: The most downgrades and the possibility
significant factors contributing of restricted access to funding. Commentary: We believe macro-
to this risk at present are the The Group may be unable to economic uncertainty has
impacts of government complete any divestment increased, primarily as a result of
imposed lockdowns to manage programme within the desired the Covid-19 pandemic. This may
the Covid-19 pandemic and timescales or achieve result in price volatility in the
associated increased levels of expected values. The capacity products mined, and marketed, by
public debt; a future global to invest in growth projects is Anglo American.
pandemic or major health constrained during periods of
crisis; a fiscal crisis in a key low product prices – which
economy or economic bloc; may, in turn, affect future
and armed conflict or terrorist performance.
event.
Mitigation: Maintaining a
conservative balance sheet
and proactive management of
debt facilities and the delivery
of cash improvement and
operational performance
targets are the key mitigation
strategies for this risk. Regular
updates of economic analysis
and product price assumptions
are discussed with executive
management and the Board.
3. Cyber security
Loss or harm to our Impact: Theft or loss of Risk movement: Increased since
technical infrastructure and intellectual property, financial 2019.
the use of technology within losses, increased costs,
the organisation from reputational damage and Risk appetite: Operating within
malicious or unintentional operational disruption. the limits of our appetite.
sources.
Mitigation: We have a Commentary: Cyber security risk
Root cause: The frequency dedicated Global Information was reassessed and was deemed
and sophistication of attempted Management Security team to have increased in 2020, owing
criminally motivated cyber with appropriate specialist to the greater sophistication and
attacks is increasing. third-party support to oversee frequency of attempted cyber
our network security. We have attacks. During 2020, we further
achieved UK Cyber Essentials strengthened our control
Certification and an ongoing environment. Our controls
cyber awareness programme responded as planned and no
is in place across the Group. cyber attack attempt resulted in
negative impacts for Anglo
American.
4. Safety
Failure to eliminate fatalities. Impact: A fatal incident is Risk movement: No change.
devastating for the bereaved
Root cause: Fatalities may family, friends and colleagues. Risk appetite: Operating within
result from operational leaders, Over the longer term, failure to the limits of our appetite.
employees and contractors provide a safe working
failing to apply safety rules and environment will threaten our Commentary: While we continue
hazard identification, including licence to operate. to see an overall improvement in
non-compliance with critical our safety performance, during
controls. Mitigation: All operations 2020 there were two work-related
continue to implement safety fatalities in our managed
improvement plans, with a operations, compared with four in
focus on: effective 2019. This is still an unacceptable
management of critical controls level and management remains
required to manage significant fully committed to the elimination
safety risks; learning from high of fatalities.
potential incidents and
hazards; embedding a safety
culture; and leadership
engagement and
accountability. Our Elimination
of Fatalities Taskforce
oversees targeted
improvement initiatives to
further improve safety
performance.
5. Climate change
Climate change is one of the Impact: Potential loss of Risk movement: Increased since
defining challenges of our stakeholder confidence leading 2019
era and our commitment to to negative impact Risk appetite: Operating within
being part of the global on value, cash flow and the limits of our appetite.
response presents both risks profitability. Operational
and opportunities. disruption in the event of Commentary: For more
extreme weather events. Long information on our Sustainable
Root cause: We are term demand for metals and Mining Plan and climate change
committed to the ongoing minerals mined and marketed policy, see pages 35-37, and for
realignment of our portfolio in by Anglo American may further information on how we
a responsible manner; deviate from assumptions engage with key stakeholders, see
however, different stakeholder based on societal demands for page 13.
expectations continue to evolve climate change abatement. We
and are not always aligned. may fail to achieve carbon
Long term demand for the reduction targets in the event
metals and minerals produced that new technologies are not
and marketed by Anglo effective or embedded in our
American may deviate from operations.
current assumptions. Changing
weather patterns and an Mitigation: We have
increase in extreme weather articulated our climate change
events may impact operational plans, policies and progress
stability and our local and engage with key
communities. Our carbon stakeholders to ensure they
emission reduction targets are understand them. Our
partly reliant on new Sustainable Mining Plan
technologies that are at various includes operation-specific and
stages of development. Group targets for reductions in
carbon emissions, power and
water usage.
6. Operational stability
Unplanned operational Impact: Inability to achieve Risk movement: Increased since
stoppages impacting production, cash flow or 2019.
production and profitability. profitability targets. There are Risk appetite: Operating within
potential safety-related matters the limits of our appetite.
Root cause: Failure to associated with unplanned
implement and embed our operational stoppages, along Commentary: During 2020, there
Operating Model, maintain with a loss of investor were two material unplanned
critical plant, machinery and confidence. operational incidents in our
infrastructure and operate in Metallurgical Coal business in
compliance with Mitigation: Implementation of Australia and one material
Anglo American’s Technical our Operating Model and unplanned operational incident in
Standards compliance with Technical our PGMs business in South
will affect our performance Standards, supported by Africa.
levels. We are also exposed to operational risk management
risks of interruptions of power and assurance processes, is
supply and the failure of third- the key mitigation against this
party owned and operated risk. Regular tracking and
infrastructure, e.g. rail networks monitoring of progress against
and ports. Our operations may the underlying EBITDA targets
also be exposed to natural is undertaken.
catastrophes and extreme
weather events.
7. Pandemic
Large scale outbreak of Impact: As has been Risk movement: Increased since
infectious disease increasing witnessed by the Covid-19 2019.
morbidity and mortality over pandemic, widespread Risk appetite: Operating within
a wide geographic area. consequences include the the limits of our appetite.
physical and mental health and
Root cause: Human well-being of our people and Commentary: In light of the
population growth, local communities; economic Covid-19 pandemic, this risk was
urbanisation, changes in land shocks and disruption; social reclassified as a principal risk in
use, loss of biodiversity, unrest; an increase in political 2020.
exploitation of the natural stresses and tensions, a rise in
environment, viral disease from criminal acts that could impact
animals and increased global Anglo American and the
travel and integration are all
contributory causes of health potential for increased
pandemics. resource nationalism.
Mitigation: Anglo American
actively monitors global
pandemic-potential diseases.
In the event of a pandemic, our
Group Crisis Management
Team is activated at an early
stage to direct the Group’s
response, prioritising the well-
being of our people, their
families and host communities,
and ensuring the continuity of
the operations.
8. Political and regulatory
Uncertainty and adverse Impact: Uncertainty over Risk movement: No change.
changes to mining industry future business conditions
regulation, legislation or tax leads to a lack of confidence Risk appetite: Operating within
regimes can occur in any in making investment the limits of our appetite.
country in which we operate. decisions, which can influence
future financial performance. Commentary: Global economic
Root cause: The Group has Increased costs can be conditions can have a significant
no control over political acts, incurred through additional impact on countries whose
actions of regulators, or regulations or resource taxes, economies are exposed to
changes in local tax regimes. while the ability to execute commodities, placing greater
Our licence to operate through strategic initiatives that reduce pressure on governments to find
mining rights is dependent on a costs or divest assets may also alternative means of raising
number of factors, including be restricted, all of which may revenues, and increasing the risk
compliance with regulations. reduce profitability and affect of social and labour unrest. These
future performance. Political factors could increase the political
instability can also result in civil risks faced by the Group.
unrest and nullification or non-
renewal of existing
agreements, mining permits,
sales agreements or leases.
These may adversely affect the
Group’s operations or
performance of those
operations.
Mitigation: Anglo American
has an active engagement
strategy with governments,
regulators and other
stakeholders within the
countries in which we operate,
or plan to operate, as well as at
an international level. We
assess portfolio capital
investments against political
risks and avoid or minimise
exposure to jurisdictions with
unacceptable risk levels. We
actively monitor regulatory and
political developments at a
national level, as well as global
themes and international policy
trends, on a continuous basis.
See page 13 for more detail on
how we engage with our key
stakeholders.
9. Corruption
Bribery or other forms of Impact: Potential criminal Risk movement: No change.
corruption committed by an investigations, adverse media
employee or agent of Anglo attention and reputational Risk appetite: Operating within
American. damage. A possible negative the limits of our appetite.
impact on licensing processes
Root cause: Anglo American and valuation. Commentary: A Group
has operations in some Compliance Committee was
countries where there is a Mitigation: A comprehensive established in 2020. Its
relatively high risk of anti-bribery and corruption responsibilities include oversight of
corruption. policy and programme, the organisation’s anti-bribery
including risk assessment, management system to ensure its
training and awareness, with continuing suitability, adequacy
active monitoring, are in place. and effectiveness.
10. Water
Inability to obtain or sustain Impact: Loss of production Risk movement: No change.
the level of water security and inability to achieve cash
needed to support flow or volume improvement Risk appetite: Operating within
operations over the current targets. Damage to the limits of our appetite.
life of mine plan or future stakeholder relationships or
growth options. reputational damage can result Commentary: This continues to
from failure to manage this be a risk to the majority of our
Root cause: Poor water critical resource. operations. For more information
resource management or on our Sustainable Mining Plan,
inadequate onsite storage, Mitigation: Various projects see pages 35-36.
combined with reduced water have been implemented at
supply at some operations as operations most exposed to
weather patterns change, can this risk, focused on: water
affect production. Water is a efficiency; water security; water
shared resource with local treatment; and discharge
communities and permits to management; as well as
use water in our operations are alternative supplies. New
at risk if we do not manage the technologies are being
resource in a sustainable developed that will reduce
manner. water demand.
11. Future demand
Demand for metals and Impact: Potential for negative Risk movement: No change.
minerals produced and impact on revenue, cash flow,
marketed by Anglo American profitability and value. Risk appetite: Operating within
may deviate from our the limits of our appetite.
assumptions. Mitigation: Regular reviews of
production and financial plans, Commentary: Anglo American
Root cause: Technological as well as longer term portfolio has committed to continuing to
developments and/or product decisions, are based on transition our portfolio towards
substitution leading extensive research. We those metals and minerals that
to reduced demand, growth in monitor new business enable a greener, cleaner, more
the circular economy and shifts opportunities in line with our sustainable world.
in consumer preferences. strategy to secure, develop
and operate a portfolio of high
quality and long life resource
assets, from which we will
deliver leading shareholder
returns. Our businesses invest
in marketing and other
activities to enhance the
inherent value of the products
we produce, including building
consumer confidence in the
ethical provenance of our
products.
APPENDIX B – Related party transactions
35. RELATED PARTY TRANSACTIONS
The Group has related party relationships with its subsidiaries, joint operations, associates and joint
ventures (see notes 34 and 35). Members of the Board and the Group Management Committee are
considered to be related parties.
The Company and its subsidiaries, in the ordinary course of business, enter into various sale,
purchase and service transactions with joint operations, associates, joint ventures and others in which
the Group has a material interest. These transactions are under terms that are no less favourable to
the Group than those arranged with third parties.
Associates Joint ventures Joint operations
US$ million 2020 2019 2020 2019 2020 2019
Transactions with related parties
Sale of goods and services – – – – 87 163
Purchase of goods and services (28) (20) (197) (170) (1,985) (2,893)
Balances with related parties
Trade and other receivables from related parties – 3 1 – 21 17
Trade and other payables to related parties (38) (5) (31) (31) (157) (128)
Loans receivable from related parties – – 154 230 – –
Balances and transactions with joint operations or joint operation partners represent the portion that
the Group does not have the right to offset against the corresponding amount recorded by the
respective joint operations. These amounts primarily relate to purchases by De Beers and Platinum
Group Metals from their joint operations in excess of the Group’s attributable share of their
production.
Loans receivable from related parties are included in Financial asset investments on the Consolidated
balance sheet.
Remuneration and benefits received by directors are disclosed in the Remuneration report.
Remuneration and benefits of key management personnel, including directors, are disclosed in note
26. Information relating to pension fund arrangements is disclosed in note 27.
APPENDIX C – Statement of directors’ responsibilities in respect of the financial statements
The directors are responsible for preparing the Integrated Annual Report and the financial statements
in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that
law the directors have prepared the group financial statements in accordance with International
Accounting Standards in conformity with the requirements of the Companies Act 2006. Additionally,
the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules require the directors
to prepare the Group financial statements in accordance with International Financial Reporting
Standards adopted pursuant to Regulation (EC) No 1606/2002 as it applies in the European Union
and parent Company financial statements in accordance with United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting Standards, comprising FRS 101 ‘Reduced
Disclosure Framework’, and applicable law).
Under company law, directors must not approve the financial statements unless they are satisfied that
they give a true and fair view of the state of affairs of the Group and parent Company and of the profit
or loss of the Group for that period.
In preparing the financial statements, the directors are required to:
• Select suitable accounting policies and then apply them consistently
• State whether International Accounting Standards in conformity with the requirements of the
Companies Act 2006 and International Financial Reporting Standards adopted pursuant to
Regulation (EC) No 1606/2002 as it applies in the European Union have been followed for
the Group financial statements and United Kingdom Accounting Standards, comprising FRS
101 have been followed for the parent Company financial statements, subject to any
material departures disclosed and explained in the financial statements
• Make judgements and accounting estimates that are reasonable and prudent
• Prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the Group and parent Company will continue in business.
The directors are also responsible for safeguarding the assets of the Group and parent Company and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for keeping adequate accounting records that are sufficient to show and
explain the Group’s and parent Company’s transactions and disclose with reasonable accuracy at any
time the financial position of the Group and parent Company and enable them to ensure that the
financial statements and the directors’ remuneration report comply with the Companies Act 2006.
The directors are responsible for keeping adequate accounting records that are sufficient to show and
explain the Group’s transactions, disclose with reasonable accuracy at any time the financial position
of the Company and enable them to ensure that the financial statements comply with the Companies
Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial
information included on the Group’s website. Legislation in the United Kingdom governing the
preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Directors’ responsibility statement
for the year ended 31 December 2020
The directors consider that the annual report and accounts, taken as a whole, are fair, balanced and
understandable and provide the information necessary for shareholders to assess the Group’s and
parent Company’s position and performance, business model and strategy.
We confirm that to the best of our knowledge:
• The Group financial statements, which have been prepared in accordance with International
Accounting Standards in conformity with the requirements of the Companies Act 2006 and
International Financial Reporting Standards adopted pursuant to Regulation (EC) No
1606/2002 as it applies in the European Union, give a true and fair view of the assets,
liabilities, financial position and profit of the Group
• The parent Company financial statements, which have been prepared in accordance with
United Kingdom Accounting Standards, comprising FRS 101, give a true and fair view of the
assets, liabilities, financial position and profit of the parent Company
• The Strategic Report includes a fair review of the development and performance of the
business and the position of the Group and parent Company, together with a description of
the principal risks and uncertainties that it faces.
By order of the Board
Mark Cutifani Stephen Pearce
Chief Executive Finance Director
The Company has a primary listing on the Main Market of the London Stock Exchange and secondary
listings on the Johannesburg Stock Exchange, the Botswana Stock Exchange, the Namibia Stock
Exchange and the SIX Swiss Exchange.
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 08-03-2021 11:00:00
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