Anglo American announces successful exit from Tongaat Hulett shareholding, realising gross proceeds of approximately US$523m
13 August, 2009
Further to the announcement dated 12 August 2009, Anglo American plc (“Anglo American”) announces the completion of the sale by way of an accelerated bookbuild of 51.2 million Tongaat Hulett Limited (“Tongaat”) ordinary shares placed with qualifying institutional investors at a price of ZAR82.00 per ordinary share (the “Equity Placing”).
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER OF SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.
Due to the strong demand for the Tongaat ordinary shares, Anglo American sold all of its shares in the Equity Placing and therefore there will be no exchangeable bond into Tongaat ordinary shares.
The sale price represents a discount of approximately 7% to the 60-day volume weighted average price of Tongaat ordinary shares, as at 11 August 2009. The Equity Placing will settle on 20 August 2009 and Anglo American will receive gross proceeds of ZAR4,202 million or approximately US$523 million.
Rand Merchant Bank, Morgan Stanley and UBS Investment Bank are acting as joint bookrunners (“Joint Bookrunners”) for the Equity Placing.
This announcement is not for publication or distribution or release, directly or indirectly, in the United States of America (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form part of an offer or solicitation of an offer to purchase or subscribe for securities in the United States or any other jurisdiction. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold, directly or indirectly, in the United States, absent registration or an exemption from, or transaction not subject to, the registration requirements of the Securities Act. No public offering of securities is being made in the United States. This announcement does not and is not intended to constitute an offer to the public in South Africa in terms of Chapter VI of the South African Companies Act, 1973 (as amended). Neither this announcement nor any copy of it may be taken, transmitted or distributed, directly or indirectly in or into the United States, Canada, Australia or Japan.
This announcement is for information purposes only and in member states of the European Economic Area (other than the United Kingdom) is directed only at persons who are qualified investors (as defined in article 2(1)(e) of EU directive 2003/71/EC (the "Prospectus Directive") and the relevant implementing rules and regulations adopted by each Member State). In the United Kingdom, this announcement is directed only at the following persons: investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); and high net worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of the Order.
This announcement has been issued by and is the sole responsibility of Anglo American. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by any of the Joint Bookrunners or by any of their respective affiliates or agents as to, or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.
This announcement does not purport to identify or suggest
the risks (direct or indirect) which may be associated with an
investment in the securities.
Any investment decision to buy securities in the Equity Placing
must be made solely on the basis of publicly available information
which has not been independently verified by Rand Merchant Bank,
Morgan Stanley & Co. International plc or UBS
Limited.
Rand Merchant Bank, Morgan Stanley & Co. International plc and UBS Limited are acting for Anglo American only in connection with the Equity Placing and no one else, and will not be responsible to anyone other than Anglo American for providing the protections offered to clients of Rand Merchant Bank, Morgan Stanley & Co. International plc and UBS Limited nor for providing advice in relation to the Equity Placing.