Wrap Text
Cash proceeds in respect of fractional entitlements arising from the Demerger and the Share Consolidation
Anglo American plc
Registered office: 17 Charterhouse Street, London EC1N 6RA
Registered number: 3564138 (incorporated in England and Wales)
Legal Entity Identifier: 549300S9XF92D1X8ME43
ISIN: GB00BTK05J60
JSE Share Code: AGL
NSX Share Code: ANM
(the "Company")
CASH PROCEEDS IN RESPECT OF FRACTIONAL ENTITLEMENTS ARISING FROM THE
DEMERGER AND THE SHARE CONSOLIDATION
1. INTRODUCTION
Anglo American announces the cash settled entitlements to be received by its shareholders
("Anglo American Shareholders") in respect of fractional entitlements resulting from the
demerger of Valterra Platinum Limited (formerly Anglo American Platinum Limited) ("Valterra
Platinum") and the associated share consolidation of Anglo American.
Anglo American Shareholders are referred to: (i) the circular published by the Company on
Tuesday, 8 April 2025 (the "Circular") regarding the distribution in specie by Anglo American of
ordinary shares ("Demerger Shares" or "AAP Shares") held in Valterra Platinum to qualifying
Anglo American Shareholders (the "Demerger") and the share consolidation to be undertaken
by the Company following the implementation of the Demerger (the "Share Consolidation"); and
(ii) various announcements published by the Company on Wednesday, 30 April 2025, Tuesday,
20 May 2025 and Monday, 2 June 2025 in connection with the implementation of the Demerger
and Share Consolidation.
Unless otherwise defined, all capitalised terms used but not defined in this announcement shall
have the meaning ascribed to them in the Circular.
Anglo American Shareholders are reminded that, subject to the terms and conditions set out in
the Circular and as outlined in the finalisation announcement issued on Tuesday, 20 May 2025:
- pursuant to the Demerger, qualifying Anglo American Shareholders will receive
110 Demerger Shares for every 1 075 ordinary shares held in the Company ("Anglo
American Shares") as at the Demerger Record Time; and
- pursuant to the Share Consolidation, every 109 Existing Anglo American Shares will
be consolidated or consolidated and sub-divided into 96 New Shares in Anglo
American ("New Shares") (the "Share Consolidation Ratio").
The purpose of this announcement is to notify Anglo American Shareholders of the value to be
utilised in determining the cash payment which Anglo American Shareholders may become
entitled in respect of any fractional entitlements arising as a result of the Demerger and the
Share Consolidation.
The Circular contains further details in relation to the Demerger and the Share Consolidation,
including the terms and conditions applicable to the Demerger and the Share Consolidation
and expected key dates. The Circular is available on www.angloamerican.com/investors/anglo-
american-platinum-demerger. Anglo American Shareholders are advised to read the Circular
with care and in full.
2. CASH VALUE OF FRACTIONAL ENTITLEMENTS
THE DEMERGER
In accordance with the JSE Listings Requirements, fractional entitlements to the Demerger
Shares will be rounded down to the nearest whole number and the aggregated fractions of the
Demerger Shares to which Qualifying Shareholders are entitled will not be transferred to them.
These fractional entitlements to the Demerger Shares will instead be aggregated, sold on the
open market as soon as practicable and the relevant Qualifying Shareholder will be entitled to
receive a cash payment in respect of the fraction of a Demerger Share to which they otherwise
would have been entitled.
Qualifying Shareholders on the SA Register and the Botswana Register are advised that the cash
payment due to them in respect of their fractional entitlements will be determined with reference
to the volume-weighted average price in Rand of the AAP Shares traded on the JSE on the first
trading day following the last day to trade in Anglo American Shares in order to participate in the
Demerger, less 10% of such volume weighted average price.
Taking into account the volume-weighted average price of ZAR 69 964.573 cents of the AAP
Shares, Qualifying Shareholders on the SA Register and the Botswana Register are advised that
the calculation of the cash proceeds due to them in respect of any fractional entitlements will be
based on a price of ZAR 62 968.1157 cents per Demerger Share.
These cash proceeds in respect of the fractional entitlements arising from the Demerger are
expected to be paid to Qualifying Shareholders on the SA Register and the Botswana Register
on Thursday, 5 June 2025 to the relevant CSDP or broker accounts in the Strate System (or in
accordance with existing dividend bank mandates for Qualifying Shareholders on the Botswana
Register).
For Qualifying Shareholders on the UK Register, the reference price referred to in the paragraphs
above will be converted into Sterling using the Rand: Sterling spot rate given on the Bank of
England website for Tuesday, 3 June 2025, with the cash proceeds in respect of the fractional
entitlements arising from the Demerger expected to be paid to Qualifying Shareholders on the
UK Register by no later than Friday, 13 June 2025.
THE SHARE CONSOLIDATION
In accordance with the JSE Listings Requirements, any holding of Anglo American Shares which
is not exactly divisible by the Share Consolidation Ratio will result in the number of New Shares
received being rounded down to the nearest whole number. Any fractional entitlements arising in
respect of the New Shares will not be transferred to the Anglo American Shareholders but will
instead be aggregated with those from other Anglo American Shareholders and sold in the open
market as soon as practicable. The cash proceeds will be dealt with as outlined below.
The cash payment due to an Anglo American Shareholder on the SA Register and the Botswana
Register in respect of their fractional entitlements will be determined with reference to the volume-
weighted average price in Rand of the New Shares traded on the JSE on the first trading day
following the last day to trade in Anglo American Shares in order to participate in the Share
Consolidation, less 10% of such volume-weighted average price.
Taking into account the volume-weighted average price of ZAR 53 657.196 cents of the New
Shares, Anglo American Shareholders on the SA Register and the Botswana Register are
advised that the calculation of the cash proceeds due to them in respect of any fractional
entitlements arising from the Share Consolidation will be based on a price of ZAR 48 291.4764
cents per New Share.
These cash proceeds in respect of the fractional entitlements arising from the Share
Consolidation are expected to be paid to Anglo American Shareholders on the SA Register and
the Botswana Register on Thursday, 5 June 2025 to the relevant CSDP or broker accounts in
the Strate System (or in accordance with existing dividend bank mandates for Anglo American
Shareholders on the Botswana Register).
For Anglo American Shareholders on the UK Register, any fractional entitlement to New Shares
will be aggregated with those from other Anglo American Shareholders and sold in the open
market as soon as practicable and at the best price reasonably obtainable, with the net proceeds
of sale (following the deduction of any sale or currency exchange costs or commissions being
deducted) being paid according to the entitlement of the Anglo American Shareholder on the UK
Register by no later than Friday, 13 June 2025.
Clare Davage
Deputy Company Secretary
Anglo American plc
3 June 2025
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: 03-06-2025 10:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
