Anglo Platinum rights offer
29 March, 2010
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 forwardlooking statements.