Anglo Platinum rights offer

RNS Number : 3333J

Anglo American PLC

29 March 2010

 



THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL.   News Release

29 March 2010

Anglo Platinum rights offer

Anglo American plc wishes to draw attention to the announcement today by its subsidiary company, Anglo Platinum, in relation to the ZAR12.5 billion (approximately $1.7 billion) Anglo Platinum Rights Offer ("the Rights Offer").

The Rights Offer, which closed on Friday 26 March, received strong support from Anglo Platinum's shareholders and was, as a result, significantly over-subscribed, after taking into account the applications received for excess Rights Offer shares.

Anglo American took up its rights in full associated with its shareholding in Anglo Platinum and, given the strong demand for the balance of the Rights Offer shares, Anglo American's underwriting commitment in relation to the minority portion of the Rights Offer was not called upon. Accordingly, following the Rights Offer, Anglo American's shareholding in Anglo Platinum is expected to be unchanged at 79.72%.

Anglo American believes that the demand shown for the Rights Offer shares is a clear demonstration of confidence in Anglo Platinum's strategy as the world's leading producer of platinum, following its major restructuring in 2009 and ongoing operational improvements. Anglo Platinum now has a more balanced capital structure, enabling it to focus on extracting value from its existing operations through further cost and productivity improvements and optimising its premium portfolio of assets and growth projects through disciplined investment.

This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act") or the securities laws of any state or any other jurisdiction of the United States. Consequently, they may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or indirectly, within the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offer of securities in the United States.

This press release includes statements that are forward-looking in nature. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

For further information, please contact:

United Kingdom

James Wyatt-Tilby, Media Relations

Tel: [phone]

Caroline Metcalfe, Investor Relations

Tel: [phone]

Leisha Wemyss, Investor Relations

Tel : [phone]

South Africa

Pranill Ramchander, Media Relations

Tel: [phone]

Anna Poulter, Investor Relations

Tel: [phone]

Notes to Editors:

Anglo American plc is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Its portfolio of mining businesses spans precious metals and minerals - in which it is a global leader in both platinum and diamonds; base metals - copper and nickel; and bulk commodities - iron ore, metallurgical coal and thermal coal. Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company's mining operations and extensive pipeline of growth projects are located in southern Africa, South America, Australia, North America and Asia. 

www.angloamerican.co.uk

 

END

 

 

MSCBKLFLBXFXBBE