Shareholders are referred to the announcement published by Anglo American plc ("Anglo American") on 14 May 2024 regarding Anglo American's plan to unlock significant value inherent in its portfolio through the acceleration of its strategy and delivery of consistently stronger shareholder returns (the "Strategic Plan"). Integral to Anglo American achieving those objectives, Anglo American announced its intention to demerge its stake in the Company in a responsible and orderly manner to optimise value for both the shareholders of Anglo American and Anglo American Platinum (the "Anglo American Platinum Demerger").
The Company has been informed by Anglo American that certain Anglo American subsidiaries in South Africa have undertaken an internal re-organisation in preparation for the Anglo American Platinum Demerger. The resulting changes are administrative in nature and have no impact on Anglo American's beneficial interest in the Company.
In accordance with section 122(3)(b) of the Companies Act, 71 of 2008 (the "Companies Act"), and paragraph 3.83(b) of the JSE Limited Listings Requirements, shareholders are therefore advised of the following changes:
- Anglo American South Africa Investments Proprietary Limited (“AASAI”) (a wholly-owned subsidiary of Anglo American) has notified the Company that it has disposed of its entire 78.56% beneficial interest in the securities of the Company to Anglo South Africa Proprietary Limited ("ASA"), which is also a wholly-owned subsidiary of Anglo American, such that it now holds 0% of the issued ordinary shares in the Company (the "AASAI Disposal");
- ASA has notified the Company that, pursuant to the AASAI Disposal, it has acquired that same beneficial interest in securities of the Company, such that it holds 78.56% of the issued ordinary shares in the Company (the "ASA Acquisition"). However, immediately following the ASA Acquisition, ASA further notified the Company that it has disposed of its entire 78.56% beneficial interest in the securities of the Company to Anglo American South Africa Proprietary Limited ("AASA"), also a wholly-owned subsidiary of Anglo American, such that it now holds 0% of the issued ordinary shares in the Company (the "ASA Disposal"); and
- AASA has notified the Company that, pursuant to the ASA Disposal, it has acquired a beneficial interest in securities of the Company, such that it now holds 78.56% of the issued ordinary shares in the Company.
As required in terms of section 122(3)(a) of the Companies Act, the Company has filed the required notices with the Takeover Regulation Panel.
RESPONSIBILITY STATEMENT
The board of directors of the Company (the “Board”), individually and collectively, accepts responsibility for the accuracy of the information contained in this announcement which relates to the Company. To the best of the Board’s knowledge and belief, the information contained in this announcement is true and nothing has been omitted which is likely to affect the importance of such information.
Johannesburg
2 September 2024
Sponsor:
Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities