REG - Anglo American PLC - Cash Proceeds of Fractional Entitlements

Anglo AmericanAnnouncement

Tue 09:01

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RNS Number : 1100L  Anglo American PLC  03 June 2025

Anglo American plc

("Anglo American" or "the Company")

Registered office: 17 Charterhouse Street, London EC1N 6RA

Registered number: 3564138 (incorporated in England and Wales)

LEI: 549300S9XF92D1X8ME43

 

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 commissionsbeing 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)

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