Wrap Text
ANG - AngloGold Ashanti Limited - Anglogold Ashanti announces results of general
meeting and withdrawal of cautionary announcement
AngloGold Ashanti Limited
Incorporated in the Republic of South Africa
Registration Number: 1944/017354/06)
ISIN Number:ZAE000043485
JSE Share Code: ANG
("AngloGold Ashanti/Company")
RESULTS OF GENERAL MEETING AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
At the AngloGold Ashanti general meeting held on 26 October 2010, the special
resolution relating to the specific authority and approval for the directors of
AngloGold Ashanti to allot and issue up to 18,140,000 ordinary shares of R0.25
each in the authorised but unissued share capital of the Company (AngloGold
Ashanti ordinary shares) for purposes of the conversion of the US$789,086,750
6.00% mandatory convertible subordinated bonds due 2013 (the "Mandatory
Convertible Bonds") was approved by majority 99.31% of shareholders. The
specific authority will enable AngloGold Ashanti to allot and issue up to
18,140,000 AngloGold Ashanti ordinary shares underlying the American Depositary
Shares deliverable upon conversion of the three-year Mandatory Convertible Bonds
issued on 15 September 2010.
The special resolution will be registered with the Companies and Intellectual
Property Registration Office in due course.
Withdrawal of cautionary announcement
Shareholders are referred to the cautionary announcements dated 15, 16 and 23
September 2010 and are advised that as the outcome of the general meeting is now
known, caution is no longer required to be exercised by shareholders when
dealing in AngloGold Ashanti securities.
Background
AngloGold Ashanti concluded a dual-tranche issue of equity and a mandatory
convertible bond last month to help facilitate elimination of the 3.2 million
committed ounces remaining in its hedge book. This followed a decision to
conclude the process, started at the beginning of 2008, of restructuring and
strengthening its balance sheet and financial profile. At that time, the
company`s hedge exposure ran to almost 12Moz. The hedge position was officially
declared closed on 7 October 2010, ending AngloGold Ashanti`s sale of gold at
discounts to market prices.
The accelerated capital raising attracted significant demand from investors,
resulting in the broad distribution of securities to more than 80 individual
institutions in each issue.
ENDS
26 October 2010
JSE Sponsor - UBS
Contacts
Tel: E-mail:
Alan Fine (Media) +27 11 637 6383 afine@AngloGoldAshanti.com
Stewart Bailey(Investor) +1 2128364303 sbailey@anglogoldashanti.com
or +27 82 330 9628
Certain statements made in this communication, including, without limitation,
those concerning AngloGold Ashanti`s strategy to reduce its gold hedging
position including the extent and effects of the reduction, the economic outlook
for the gold mining industry, expectations regarding gold prices, production,
cash costs and other operating results, growth prospects and outlook of
AngloGold Ashanti`s operations, individually or in the aggregate, including the
completion and commencement of commercial operations of certain of AngloGold
Ashanti`s exploration and production projects, the resumption of production at
AngloGold Ashanti`s mines in Ghana, the completion of announced mergers and
acquisitions transactions, AngloGold Ashanti`s liquidity and capital resources,
and expenditure and the outcome and consequences of any litigation proceedings
or environmental issues, contain certain forward-looking statements regarding
AngloGold Ashanti`s operations, economic performance and financial condition.
Although AngloGold Ashanti believes that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be given that such
expectations will prove to have been correct. Accordingly, results could differ
materially from those set out in the forward-looking statements as a result of,
among other factors, changes in economic and market conditions, success of
business and operating initiatives, changes in the regulatory environment and
other government actions including environmental approvals and actions,
fluctuations in gold prices and exchange rates, and business and operational
risk management. For a discussion of certain of these factors, refer to
AngloGold Ashanti`s annual report for the year ended 31 December 2009, which was
distributed to shareholders on 30 March 2010. The company`s annual report on
Form 20-F, was filed with the Securities and Exchange Commission in the United
States on April 19, 2010 and as amended on May 18, 2010. AngloGold Ashanti
undertakes no obligation to update publicly or release any revisions to these
forward-looking statements to reflect events or circumstances after today`s date
or to reflect the occurrence of unanticipated events. All subsequent written or
oral forward-looking statements attributable to AngloGold Ashanti or any person
acting on its behalf are qualified by the cautionary statements herein.
AngloGold Ashanti posts information that is important to investors on the main
page of its website at www.anglogoldashanti.com and under the "Investors" tab on
the main page. This information is updated regularly. Investors should visit
this website to obtain important information about AngloGold Ashanti.
Date: 26/10/2010 11:00:00 Supplied by www.sharenet.co.za
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