| Fri 1 Jun 2007, 12:00 | | AGL- Anglo American plc - Proposed demerger by Ang |
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AGL
ANAAL
AGL- Anglo American plc - Proposed demerger by Anglo American plc of Mondi Group
Anglo American plc
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
ISIN number: GB0004901517
Proposed demerger by Anglo American plc of Mondi Group
Anglo American plc ("Anglo American") today announces that it is posting
documents to its shareholders in relation to the demerger and public listing of
its paper and packaging subsidiary, Mondi Group ("Mondi") (the "Demerger") and a
share consolidation of existing ordinary shares in Anglo American.
As previously announced, the Mondi Group will be demerged as a dual listed
company structure ("DLC"), comprising Mondi Limited, a South African
incorporated company holding Mondi`s African assets, and Mondi plc, a UK
incorporated company holding Mondi`s non African assets.
Commenting on the Demerger, Cynthia Carroll, Chief Executive Officer of Anglo
American, said:
"The Demerger of Mondi represents a major milestone in delivering Anglo
American`s restructuring programme in becoming a focused global mining company.
Mondi has been successfully built into a leading paper and packaging group and
is today well positioned to compete on a global basis. I am grateful for the
support shown by Mondi management and employees during this transaction and look
forward to following the development of the Mondi Group going forward."
David Hathorn, Chief Executive Officer of Mondi, said:
"The Demerger will be a big step forward for Mondi. Being part of Anglo
American has served us well, but the time is right for Mondi to become
independent. We believe that being a separately listed Group will create new
opportunities and give us added flexibility to take Mondi forward into the next
phase of its development."
An Extraordinary General Meeting of Anglo American to approve the Demerger is
scheduled for 4.00 p.m. on Monday, 25 June 2007 and the Court hearing to approve
the related capital reduction is scheduled for Monday, 2 July 2007. If the
Demerger is approved by Anglo American shareholders and the capital reduction
approved by the Court, the ordinary shares in Mondi plc are expected to be
admitted to the Official List of the Financial Services Authority and to trading
on the London Stock Exchange, and admitted by way of secondary listing to the
JSE Limited (the "JSE") and the ordinary shares in Mondi Limited are expected to
be admitted to the JSE (together, "Admission") on Tuesday, 3 July 2007.
Enquiries
Anglo American
Charles Gordon +44 (0)20 7968 8933
Anna Poulter +44 (0)20 7968 2155
Anne Dunn +27 11 638 4730
Mondi
Paul Hollingworth +44 (0)1932 826325
Mervyn Walker +44 (0)1932 826360
Goldman Sachs International +44 (0)20 7774 1000
Simon Dingemans
Dominic Lee
UBS +44 (0)20 7567 8000
James Hartop
Nimesh Patel
Financial Dynamics
Richard Mountain +44 (0)20 7269 7121
Louise Brugman +27 11 214 2415 / +27 83 504 1186
The information in this summary should be read in conjunction with the full text
of the attached announcement and the Anglo American circular and Mondi Group
prospectus. Terms used in this press release but not defined herein have the
meaning given to them in the Circular to Anglo American Shareholders being
published today.
This press release has been issued by and is the sole responsibility of Anglo
American.
Goldman Sachs International which is regulated in the United Kingdom by the FSA,
UBS Limited and UBS South Africa (Proprietary) Limited, are acting exclusively
for Anglo American plc and Mondi Group and no one else in connection with the
proposed Demerger and Admission and will not be responsible to anyone else for
providing the protections afforded to respective customers of Goldman Sachs
International, UBS Limited and UBS South Africa (Proprietary) Limited or for
providing advice in relation to the proposed Demerger and Admission or for the
contents of this announcement.
This press release does not comprise listing particulars or a prospectus
relating to Anglo American, Mondi Limited or Mondi plc and does not constitute
an offer or invitation to purchase or subscribe for any securities of Anglo
American or the Mondi and should not be relied on in connection with a decision
to purchase or subscribe for any such securities. This press release does not
constitute a recommendation regarding the securities of Anglo American or the
Mondi.
This announcement does not constitute a recommendation concerning the Demerger,
and should not be construed as legal, business, tax or investment advice. The
value of shares can go down as well as up. Past performance is not a guide to
future performance. Anglo American Shareholders of Anglo American plc should
consult a professional adviser as to the suitability of the Demerger for the
individual concerned.
None of the MPLC Ordinary Shares, the MLTD Ordinary Shares or the Anglo American
Ordinary Shares will be, or is required to be, registered under the US
Securities Act of 1933, as amended. None of the MPLC Ordinary Shares, the MLTD
Ordinary Shares or the Anglo American Ordinary Shares referred to in this
announcement have been approved or disapproved by the US Securities and Exchange
Commission, any state securities commission in the United States or any other US
regulatory authority, nor have such authorities passed upon or determined the
adequacy or accuracy of this document. Any representation to the contrary is a
criminal offence in the United States.
The financial information concerning Anglo American and Mondi contained in this
announcement does not amount to statutory accounts within the meaning of Section
240 of the Companies Act 1985.
Certain statements made in this announcement are forward looking statements.
Such statements are based on current expectations and are subject to a number of
risks and uncertainties that could cause actual events or results to differ
materially from any expected future events or results referred to in these
forward looking statements.
The distribution of this document in jurisdictions other than the United Kingdom
or the Republic of South Africa may be restricted by law and therefore persons
into whose possession this document comes should inform themselves about and
observe such restrictions. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such jurisdiction.
This document does not constitute an offer to sell or the solicitation of an
offer to buy any security. None of the securities referred to in this document
shall be sold, issued or transferred in any jurisdiction in contravention of
applicable law.
1 June 2007
Anglo American plc
Proposed demerger of Mondi Group by Anglo American plc and consolidation of
existing ordinary shares in Anglo American
Introduction
Anglo American plc ("Anglo American") today announces the posting of documents
to its shareholders in relation to the demerger and public listing of its paper
and packaging subsidiary, Mondi Group ("Mondi") (the "Demerger") and a
consolidation of existing ordinary shares in Anglo American.
The Demerger will result in Mondi being held by way of a dual listed company
structure ("DLC Structure"), comprising Mondi Limited ("MLTD"), a South African
incorporated company holding Mondi`s African assets, and Mondi plc ("MPLC"), a
UK incorporated company holding Mondi`s non African assets.
If the Demerger becomes effective, holders of ordinary shares in Anglo American
(the "Anglo American Shareholders") will receive both ordinary shares in MLTD
("MLTD Ordinary Shares") and ordinary shares in MPLC ("MPLC Ordinary Shares") in
proportion to their holdings of existing ordinary shares in Anglo American
("Existing Anglo American Ordinary Shares"), which they will also continue to
hold. Immediately following the Demerger, Existing Anglo American Ordinary
Shares will undergo a 91:100 share consolidation. For every 100 Existing Anglo
American Ordinary Shares held, shareholders will receive 10 MLTD Ordinary Shares
and 25 MPLC ordinary shares as well as 91 new Anglo American ordinary shares
("New Anglo American Ordinary Shares").
Following the Demerger, Mondi and Anglo American will operate independently of
each other as separately listed and publicly traded companies.
The Business of Mondi
Mondi is an integrated paper and packaging group with sales of Euro5,751 million
in 2006. Its key operations and interests are in Western Europe, Emerging Europe
and South Africa. Mondi is principally involved in the manufacture of packaging
paper, converted packaging products (including corrugated packaging, bags and
flexible packaging) and office paper. In addition, it has merchant operations
which focus on Austria and Emerging Europe and newsprint operations in South
Africa, the United Kingdom and Russia.
Mondi is integrated across the paper and packaging production process from the
growing of wood for pulp production and the manufacture of pulp and paper to the
conversion of packaging papers into corrugated packaging and industrial bags.
Furthermore, it has a growing flexibles business focused on the production of
release liner, extrusion coating and consumer flexibles products.
Mondi has production operations in 112 locations across 34 countries. Mondi
averaged approximately 34,000 employees during 2006.
Background to and reasons for the Demerger
From its founding by the Anglo American group in South Africa in 1967, and its
subsequent expansion into Europe during the 1990s, Mondi has grown to become a
leading integrated paper and packaging group.
In October 2005, the Board of Directors of Anglo American announced that it had
undertaken a major strategic review of its business that would lead to a
rationalisation and simplification of its portfolio, with an increased focus on
Anglo American`s controlled mining businesses. Following this review, Anglo
American announced in February 2006 its plans to list Mondi on the London Stock
Exchange and, on 21 February 2007, it announced that approval in principle had
been received from the regulatory authorities in South Africa to demerge Anglo
American`s interests in Mondi through a DLC Structure.
The Directors of Anglo American believe the proposed separation of Mondi from
Anglo American reflects the different characteristics of Mondi`s paper and
packaging business and Anglo American`s mining businesses. The Demerger will
allow Anglo American and Mondi to pursue the independent strategies that best
meet their respective long-term objectives. Additionally, the Demerger should
ensure that the value of Mondi`s business is more fully recognised by the market
as investors are better able to assess its attributes. The Demerger will also
enable Anglo American Shareholders to participate more directly in Mondi`s
future development, should they choose to do so.
Summary of the Demerger and Anglo American Share Consolidation
A number of steps are required to give effect to the Demerger and the creation
of the DLC Structure. Accordingly, the proposals of the Anglo American Board of
Directors (the "Proposals") involve:
* amendments to Anglo American`s articles of association in order to allow
the payment of a dividend in specie and to facilitate the Demerger and an
Anglo American Share consolidation;
* an Anglo American dividend in specie (the "Demerger Dividend") to effect
the first stage of the Demerger, resulting in Anglo American Shareholders
receiving MPLC Ordinary Shares (pro rata to their holdings in Anglo
American and on a one for one basis);
* a MPLC reduction of capital reducing the nominal value of each MPLC
Ordinary Share from Euro2.00 to Euro0.05 resulting in the transfer of MLTD
Ordinary Shares to holders of MPLC Ordinary Shares (pro rata to their
holdings in Anglo American and, in relation to their holdings in MPLC
Ordinary Shares, on a one for ten basis);
* a share consolidation of the MPLC Ordinary Shares received by Anglo
American Shareholders (on a one for four basis) thereby increasing the
nominal value of each MPLC Ordinary Share from Euro0.05 to Euro0.20;
* the various agreements and structures establishing the DLC Structure coming
into effect; and
* a share consolidation (the "Anglo American Share Consolidation") of
Existing Anglo American Ordinary Shares to create New Anglo American
Ordinary Shares.
Immediately following implementation of the Proposals, the aggregate number of
issued MLTD Ordinary Shares and the aggregate number of issued MPLC Ordinary
Shares will be in the ratio of 2:5.
The individual entitlements of Anglo American Shareholders (other than South
African shareholders holding dematerialised shares ("SA Dematerialised
Shareholders")) will be calculated by reference to their holdings of Existing
Anglo American Ordinary Shares on the Register at the Record Time, being 12.01
a.m. on Monday, 2 July 2007. Individual entitlements of SA Dematerialised
Shareholders will be calculated by reference to their holdings at the JSE Record
Time, being 5.00 p.m. (South African time) on Friday, 6 July 2007.
Details of the Anglo American Share Consolidation
It is proposed that, following the Demerger, Existing Anglo American Ordinary
Shares will be consolidated with the intention that (subject to market
movements) the share price of one New Anglo American Ordinary Share immediately
after the Demerger Dividend and the Anglo American Share Consolidation should be
approximately equal to the average share price of one Existing Anglo American
Ordinary Share over a period of three months ending shortly before the
publication of this document, adjusted to reflect the payment of the special
cash dividends of 33 cents and 67 cents per Anglo American Ordinary Share on 3
May 2006 and 21 September 2006, respectively. The Anglo American Share
Consolidation should accordingly preserve the value of options and awards
granted under the Anglo American Share Schemes to reflect the Demerger and the
payment of the special cash dividends and avoid the need for any specific
adjustments to the terms of such options and awards.
Assuming that the Proposals become effective, and subject to rounding down of
the fractional entitlements to New Anglo American Ordinary Shares, MLTD Ordinary
Shares, and MPLC Ordinary Shares, Anglo American Shareholders will receive for
every 100 Existing Anglo American Ordinary Shares held:
(i) 91 New Anglo American Ordinary Shares,
(ii) 10 MLTD Ordinary Shares and
(iii) 25 MPLC Ordinary Shares
Key Features of the DLC Structure
The Mondi Group will be held by MPLC and MLTD, which will be separate entities
and separate stock exchange listings. Shareholders will receive shares in each
of these entities upon implementation of the Demerger, and will have the ability
(as will investors generally) to buy and sell shares in these companies
independently. However, the agreements to which each of the holding companies
will be party will effectively create a single economic group.
1 Separate entities and listings
The JSE has granted a primary listing to MLTD by way of an introduction of the
entire issued ordinary share capital of MLTD, in the "Basic Resources - Forestry
and Paper", sector of the JSE List. The JSE has also granted a secondary listing
by way of introduction of the entire issued ordinary share capital of MPLC in
the "Basic Resources - Forestry and Paper" sector of the JSE List. Application
has been made to the FSA for the MPLC Ordinary Shares to be admitted to the
Official List and to the London Stock Exchange and for all of the MPLC Ordinary
Shares to be admitted to trading on the London Stock Exchange`s market for
listed securities.
2 Holdings of MLTD Ordinary Shares (or MLTD Depository lnterests) and MPLC
Ordinary Shares
Following implementation of the DLC Structure, any ordinary share held in either
MLTD or MPLC gives the holder an equivalent effective economic interest in Mondi
(see below for details).
3 Unified boards and management
Mondi will operate as a single corporate group. As MLTD and MPLC will be
separate corporate entities, they will each continue to have a board of
directors, but the MLTD Board and MPLC Board will comprise the same directors.
The MLTD Board and the MPLC Board will, in addition to their duties to the
company concerned, have regard to the interests of both the holders of MLTD
Ordinary Shares ("MLTD Shareholders") and holders of MPLC Ordinary Shares ("MPLC
Shareholders") as if the two companies were a single economic enterprise.
4 Equivalent economic interests
Both MLTD Ordinary Shareholders and MPLC Ordinary Shareholders will have
equivalent economic and voting interests in Mondi. The economic and voting
interests represented by an ordinary share in one company relative to the
economic and voting interests of an ordinary share in the other company will be
determined by reference to a ratio known as the "Equalisation Ratio".
Following the Demerger, the economic and voting interests attached to each MLTD
Ordinary Share and each MPLC Ordinary Share will be the same, on the basis that
the initial Equalisation Ratio will be 1:1.
5 Voting arrangements
Under the terms of the DLC Agreements, the Articles of Association of MLTD and
the Articles of Association of MPLC, special voting arrangements are in place so
that the shareholders of both companies effectively vote together as a single
decision-making body on matters affecting the shareholders of each company in
similar ways ("Joint Electorate Actions"). For so long as the Equalisation Ratio
remains 1:1, each MLTD Ordinary Share will effectively have the same voting
rights as each MPLC Ordinary Share on Joint Electorate Actions.
6 Cross guarantees
On implementation of the DLC Structure, MLTD and MPLC will each execute a deed
poll guarantee as a result of which it is anticipated that both MLTD and MPLC
will share the same credit rating. Creditors of MLTD and MPLC entitled to the
benefit of the Deed Poll Guarantees will, to the extent possible, be placed in
the same position as if the relevant debts were owed by Mondi.
7 Restrictions on takeovers of one company only
The Articles of Association of MLTD and the Articles of Association of MPLC
ensure that a person cannot gain control of one company without having made an
equivalent offer to the shareholders of both companies on equivalent terms.
Dividend Policy
The payment of future dividends by Anglo American and Mondi will depend on their
respective circumstances at the relevant time.
Anglo American:
Anglo American has adopted a progressive dividend policy, which aims to increase
the dividend in years of increased profit and to maintain the dividend other
than in exceptionally adverse circumstances. This policy will not change as a
result of the Demerger.
Mondi:
Following the Demerger, Mondi intends to pursue a dividend policy that reflects
its strategy of disciplined and value creating investment and growth with the
aim of offering its shareholders long term dividend growth. The Directors
intend that the final and interim dividends will generally be paid in May and
September in the approximate proportions of two-thirds (final dividend) and one-
third (interim dividend). The Directors intend that Mondi will pay an interim
dividend in September 2007, in the absence of unforeseen circumstances, with
respect to the six-month period to 30 June 2007.
Mondi will target a dividend cover range of two to three times on average over
the cycle, although the payout ratio in each year will vary in accordance with
the business cycle and will be subject to Mondi having sufficient distributable
reserves.
Debt Allocation
Mondi`s financing requirements, to the extent not financed out of cash generated
from operations, have historically been financed through a combination of equity
and debt. Debt has been provided from bank loans made to Mondi and loans from
Anglo American. On the date the Demerger becomes effective, Mondi expects to
have net debt of approximately Euro1.5 billion, of which approximately Euro0.9
billion will be owed to existing external lenders to Mondi and the balance will
be owed under a new Euro1.55 billion banking facility. Mondi intends to
refinance all of its existing debt to Anglo American at or shortly prior to
completion of the Demerger out of the new multi-currency revolving credit
facility.
MLTD and MPLC Boards of Directors
Name Age Nationality Position
Sir John Parker 65 British Joint Chairman (Non-
executive director)
Cyril Ramaphosa 55 South Joint Chairman (Non-
African executive director)
David Hathorn 45 South Chief Executive Officer
African and (Executive director)
Austrian
Paul Hollingworth 47 British Chief Financial Officer
(Executive director)
David Williams 61 British Senior Independent Non-
executive director
Colin Matthews 51 British and Independent Non-
Canadian executive director
Imogen Mkhize 45 South Independent Non-
African executive director
Anne Quinn 55 New Independent Non-
Zealander executive director
and Irish
The business addresses of the directors listed above are 44 Main Street,
Johannesburg 2001, South Africa in the case of MLTD and Building 1, Aviator
Park, Station Road, Addlestone, Surrey KT15 2PG, United Kingdom in the case of
MPLC.
Expected Timetable
The notice convening an Extraordinary General Meeting of Anglo American for 4.00
p.m. on Monday, 25 June 2007 at 20 Carlton House Terrace, London, United Kingdom
SW1Y 5AN, is set out in a circular being sent to the Shareholders. At that
meeting, approval will be sought from the Anglo American Shareholders for the
Demerger and related Proposals. This will be followed by a Court hearing at
10.00am on Monday 2, July 2007 to seek approval of the reduction of capital of
MPLC. On Monday, 2 July 2007, MLTD Ordinary Shares and MPLC Ordinary Shares will
commence trading on the JSE on a conditional basis, and MPLC Ordinary Shares
will commence trading on the London Stock Exchange on a conditional basis. It is
expected that the Demerger will become effective and the shares in MLTD and MPLC
will be admitted and commence unconditional trading on Tuesday, 3 July 2007.
Anglo American Shareholders on the Anglo American register of members at 12.01
a.m. on Monday, 2 July 2007 (other than SA Dematerialised Shareholders) will
receive 2 MLTD Ordinary Shares and 5 MPLC Ordinary Shares for every 20 Existing
Anglo American Ordinary Shares that they hold. The entitlements of SA
Dematerialised Shareholders will be calculated by reference to their holdings of
Existing Anglo American Ordinary Shares at 5.00 p.m. (South African time) on
Friday, 6 July.
If the reduction of capital or Admission does not occur on Tuesday, 3 July 2007,
all conditional dealings will be suspended. If it cannot be confirmed that the
reduction of capital and Admission will become effective on Wednesday, 4 July
2007, all conditional dealings on Monday, 2 July 2007 will be of no effect. If
the reduction of capital and Admission have not become effective by Friday, 6
July 2007, Anglo American will acquire all the MPLC Ordinary Shares and allot
(by Monday, 9 July 2007) New Anglo American Ordinary Shares to the MPLC Ordinary
Shareholders instead.
Prospectus and Circular Distribution
Copies of the Prospectus and the Circular will be available on
www.mondidemerger.com and
www.angloamerican.co.uk from Friday, 1 June
2007. Copies of the Prospectus may be obtained during normal business hours from
Friday, 1 June 2007 until Tuesday, 3 July 2007, both days inclusive, at the
following addresses:
* the registered office of MLTD, 44 Main Street, Johannesburg, 2001, South
Africa;
* the registered office of MPLC, Building 1, Aviator Park, Station Road,
Addlestone, Surrey KT15 2PG, United Kingdom;
* the offices of UBS (South Africa) (Proprietary) Limited, 64 Wierda Road
East, Wierda Valley, Johannesburg, 2196, South Africa; and
* the offices of Anglo American plc, 20 Carlton House Terrace, London SW1Y
5AN, United Kingdom.
Anglo American
Charles Gordon +44 (0)20 7968 8933
Anna Poulter +44 (0)20 7968 2155
Anne Dunn +27 11 638 4730
Mondi
Paul Hollingworth +44 (0)1932 826325
Mervyn Walker +44 (0)1932 826360
Goldman Sachs International +44 (0)20 7774 1000
Simon Dingemans
Dominic Lee
UBS +44 (0)20 7567 8000
James Hartop
Nimesh Patel
Financial Dynamics
Richard Mountain +44 (0)20 7269 7121
Louise Brugman +27 11 214 2415 / +27 83 504 1186
Notes to the Editors
1 Upon the Demerger becoming effective, the Mondi Group will be held by way of a
dual listed company structure comprising MLTD and MPLC.
2 The JSE has granted a primary listing to MLTD by way of an introduction of
the entire issued ordinary share capital of MLTD, in the "Basic Resources -
Forestry and Paper", sector of the JSE List. The JSE has also granted a
secondary listing by way of introduction of the entire issued ordinary share
capital of MPLC in the "Basic Resources - Forestry and Paper" sector of the JSE
List. Application has been made to the FSA for the MPLC Ordinary Shares to be
admitted to the Official List and to the London Stock Exchange and for all of
the MPLC Ordinary Shares to be admitted to trading on the London Stock
Exchange`s market for listed securities. MPLC will be included in the "Forestry
and Paper" sector of the London Stock Exchange List. Unconditional dealings in
MPLC Ordinary Shares on the London Stock Exchange are expected to commence at
8.00 a.m. (UK time) on Tuesday, 3 July 2007. Unconditional dealings in MLTD
Ordinary Shares and MPLC Ordinary Shares on the JSE are expected to commence at
9.00 a.m. (South African time) on Tuesday, 3 July 2007.
3 The Demerger is conditional upon, amongst other things, the approval of
resolutions by the Anglo American Shareholders at the Extraordinary General
Meeting of Anglo American to be held at 4.00 p.m. on Monday, 25 June 2007, and
the approval of the reduction of capital by the Court at the court hearing at
10.00 a.m. on Monday, 2 July 2007. (As mentioned in the Circular, another of
the conditions is the giving of clearances by HM Revenue and Customs. At the
time of printing the Circular, the clearances already given on the basis of
advanced proposals for the Demerger were in the process of being refreshed to
reflect minor changes to the proposals. Updated clearances have now been
obtained.)
The information in this announcement should be read in conjunction with the full
text of the Prospectus and Circular. Terms used in this press release but not
defined herein have the meaning given to them in the Circular to Anglo American
Shareholders being published today.
This press release has been issued by and is the sole responsibility of Anglo
American.
Goldman Sachs International which is regulated in the United Kingdom by the FSA,
UBS Limited and UBS South Africa (Proprietary) Limited are acting exclusively
for Anglo American plc and Mondi Group and no one else in connection with the
proposed Demerger and Admission and will not be responsible to anyone else for
providing the protections afforded to customers respective of Goldman Sachs
International, UBS Limited and UBS South Africa (Proprietary) Limited or for
providing advice in relation to the proposed Demerger and Admission or the
contents of this announcement.
This press release does not comprise listing particulars or a prospectus
relating to Anglo American, Mondi Limited or Mondi plc and does not constitute
an offer or invitation to purchase or subscribe for any securities of Anglo
American or Mondi and should not be relied on in connection with a decision to
purchase or subscribe for any such securities. This press release does not
constitute a recommendation regarding the securities of Anglo American or Mondi.
This announcement does not constitute a recommendation concerning the Demerger,
and should not be construed as legal, business, tax or investment advice. The
value of shares can go down as well as up. Past performance is not a guide to
future performance. Anglo American Shareholders should consult a professional
adviser as to the suitability of the Demerger for the individual concerned.
None of the MPLC Ordinary Shares, the MLTD Ordinary Shares or the Anglo American
Ordinary Shares will be, or is required to be, registered under the US
Securities Act of 1933, as amended. None of the MPLC Ordinary Shares, the MLTD
Ordinary Shares or the Anglo American Ordinary Shares referred to in this
announcement have been approved or disapproved by the US Securities and Exchange
Commission, any state securities commission in the United States or any other US
regulatory authority, nor have such authorities passed upon or determined the
adequacy or accuracy of this document. Any representation to the contrary is a
criminal offence in the United States.
The financial information concerning Anglo American and Mondi contained in this
announcement does not amount to statutory accounts within the meaning of Section
240 of the Companies Act 1985.
Certain statements made in this announcement are forward looking statements.
Such statements are based on current expectations and are subject to a number of
risks and uncertainties that could cause actual events or results to differ
materially from any expected future events or results referred to in these
forward looking statements.
The distribution of this document in jurisdictions other than the United Kingdom
or the Republic of South Africa may be restricted by law and therefore persons
into whose possession this document comes should inform themselves about and
observe such restrictions. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such jurisdiction.
THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN
OFFER TO BUY ANY SECURITY. NONE OF THE SECURITIES REFERRED TO IN THIS DOCUMENT
SHALL BE SOLD, ISSUED OR TRANSFERRED IN ANY JURISDICTION IN CONTRAVENTION OF
APPLICABLE LAW.
Date: 01/06/2007 12:00:01 Produced by the JSE SENS Department.
