| Mon 1 Oct 2007, 8:01 | | ANG - AngloGold Ashanti Limited - Anglogold Ashant |
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ANG
ANANO
ANG - AngloGold Ashanti Limited - Anglogold Ashanti responds to Anglo American
announcement
NOT FOR RELEASE IN, OR DISTRIBUTION INTO, THE UNITED STATES
AngloGold Ashanti Limited
Incorporated in the Republic of South Africa
Registration Number: 1944/017354/06)
ISIN Number: ZAE000043485
JSE Share Code: ANG
ANGLOGOLD ASHANTI RESPONDS TO ANGLO AMERICAN ANNOUNCEMENT
NOT FOR RELEASE IN, OR DISTRIBUTION INTO, THE UNITED STATES
AngloGold Ashanti Limited ("AngloGold Ashanti" or "the Company") notes the
announcement made today by Anglo American plc ("Anglo American") that it intends
to offer for sale 61 million ordinary shares of AngloGold Ashanti in the form of
ordinary shares and American Depositary Shares pursuant to the registration of
such securities under AngloGold Ashanti`s automatic shelf registration
statement.
The representatives of Anglo American remaining on the AngloGold Ashanti board
of directors intend to resign from AngloGold Ashanti`s board of directors once
Anglo American`s shareholding falls below 20% of AngloGold Ashanti`s outstanding
ordinary shares. Anglo American expects that its residual position in AngloGold
Ashanti will be investment accounted upon the completion of this offering. Anglo
American expects the offering to represent a major step in the completion of its
stated objectives for its stake in AngloGold Ashanti. Anglo American has advised
AngloGold Ashanti that it currently supports AngloGold Ashanti`s general
strategy to enhance long term shareholder value. Anglo American`s residual
position in AngloGold Ashanti will be subject to a lock-up agreement with the
joint bookrunners until 31 May 2008.
Goldman Sachs International is acting as the global co-ordinator for the
offering and Goldman Sachs International and UBS Investment Bank are joint
bookrunners for the offering. The terms of the offering are set forth in a
preliminary prospectus supplement that will be filed today with the United
States Securities and Exchange Commission (the "SEC"). The prospectus supplement
relating to the offering may be obtained free of charge from the SEC`s web site
at www.sec.gov. Copies of the preliminary prospectus supplement, when available,
may be obtained from the offices of Goldman Sachs International, Peterborough
Court, 133 Fleet Street, London EC4A 2BB, United Kingdom, telephone: +44 20 7774
1000 or UBS Limited, 1 Finsbury Avenue, London EC2M 2PP, United Kingdom,
telephone: +44 20 7567 8000.
The AngloGold Ashanti prospectus supplement contains a revised outlook statement
which states:
"During the second quarter of 2007, AngloGold Ashanti produced 1.35 million
ounces of gold. Gold production for the third quarter of 2007 is expected to be
higher by some 80,000 ounces at around 1.43 million ounces. This is 3 percent
lower as compared to previous guidance primarily due to leach pad timing delays
at Cripple Creek & Victor and an 11 day plant shut down at Obuasi for both
maintenance and the testing and development of processes to reduce environmental
impacts of ore treatment, which is being done following a directive from the
Ghanaian Environmental Protection Agency. Unit cash costs under IFRS, which may
differ significantly from those under US GAAP, for the third quarter of 2007 are
expected to be higher by around 7 percent than in the second quarter of 2007,
due to wage settlements, higher fuel costs, winter power tariffs and
maintenance. Our results in the third quarter of 2007 are expected to be
impacted by approximately $8 million of one-off compensation and recruitment
expenses relating to the retirement of Messrs Godsell and Carvalho Silva and the
appointment of Mr. Cutifani as our new Chief Executive Officer.
For the full year 2007, AngloGold Ashanti is targeting gold production of around
5.64 million ounces. Capital expenditure is expected to be around $1,124 million
in 2007 (2006: $817 million). The planned year on year increase is largely due
to monies currently being expended at the Boddington mine in Australia."
This announcement shall not constitute an offer to sell or the solicitation of
an offer to buy securities, nor shall there be any sale of the securities
described herein, in any jurisdiction, including the United States, in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. Securities may
not be offered or sold in the United States absent registration or an exemption
from such registration. AngloGold Ashanti has filed a registration statement in
the United States under the Securities Act of 1933, as amended, in connection
with the offer and sale of the securities described herein. Any public offering
of the securities referred to herein to be made in the United States will be
made by means of a prospectus and a related prospectus supplement (available
from AngloGold Ashanti) that form part of such registration statement and that
will contain detailed information about AngloGold Ashanti and its management, as
well as financial statements.
This news release is for distribution only to persons who (i) have professional
experience in matters relating to investments falling within Article 19(5) of
the United Kingdom Financial Services and Markets Act 2000 (Financial Promotion)
Order 2005 (as amended, the "Financial Promotion Order"), (ii) are persons
falling within Article 49(2)(a) to (d) ("high net worth companies,
unincorporated associations etc") of the Financial Promotion Order, (iii) are
outside the United Kingdom, or (iv) are persons to whom an invitation or
inducement to engage in investment activity (within the meaning of section 21 of
the United Kingdom Financial Services and Markets Act 2000) in connection with
the issue or sale of any securities may otherwise lawfully be communicated or
caused to be communicated (all such persons together being referred to as
"relevant persons"). This news release is directed only at relevant persons and
must not be acted on or relied on by persons who are not relevant persons. Any
investment or investment activity to which this news release relates is
available only to relevant persons and will be engaged in only with relevant
persons.
Queries Tel: Mobile E-mail:
South Africa
Charles +27 (0) 11 +27 (0) 82 cecarter@AngloGoldAshanti.com
Carter 637 6385 330 5373
Steve +27 (0) 11 +27 (0) 83 slenahan@AngloGoldAshanti.com
Lenahan 637 6248 308 2200
Notes to Editors
AngloGold Ashanti is a global gold company with a diversified portfolio of
assets in key gold producing regions and operations in ten countries on four
continents. The ordinary shares of AngloGold Ashanti are listed on the JSE
Limited under the symbol "ANG", the NYSE in the form of ADSs, each representing
one ordinary share, under the symbol "AU", the London Stock Exchange under the
symbol "AGD", Euronext Paris under the symbol "VA", the Australian Stock
Exchange in the form of CHESS depositary interests, each representing one-fifth
of an ordinary share, under the symbol "AGG", the Ghana stock exchange under the
symbol "AGA" and in the form of Ghanaian Depositary Shares under the symbol
"AADS" and Euronext Brussels in the form of unsponsored international depositary
receipts under the symbol "ANG". The principal executive office of AngloGold
Ashanti Limited is located at 76 Jeppe Street, Newtown, 2001 (P.O. Box 62117,
Marshalltown, 2107) South Africa (Telephone +27 11 637-6000).
Disclaimer
Certain statements made in this news release, including, without limitation,
those concerning the economic outlook for the gold mining industry, expectations
regarding gold prices, production, cash costs and other operating results,
growth prospects and the outlook of AngloGold Ashanti`s operations including the
completion and commencement of commercial operations of certain of AngloGold
Ashanti`s exploration and production projects, and its liquidity and capital
resources and expenditure, contain certain forwardlooking statements regarding
AngloGold Ashanti`s operations, economic performance and financial condition.
Although AngloGold Ashanti believes that the expectations reflected in such
forward-looking statements are reasonable, no assurance can be given that such
expectations will prove to have been correct. Accordingly, results could differ
materially from those set out in the forward-looking statements as a result of,
among other factors, changes in economic and market conditions, success of
business and operating initiatives, changes in the regulatory environment and
other government actions, fluctuations in gold prices and exchange rates, and
business and operational risk management. For a discussion of such factors,
refer to AngloGold Ashanti`s annual report for the year ended 31 December 2006,
which was distributed to shareholders on 29 March 2007 and its annual report on
Form 20-F filed with the SEC on 9 July 2007. AngloGold Ashanti undertakes no
obligation to update publicly or release any revisions to these forward-looking
statements to reflect events or circumstances after today`s date or to reflect
the occurrence of unanticipated events.
Monday, 1 October 2007
JSE Sponsor - UBS
Date: 01/10/2007 08:01:04 Produced by the JSE SENS Department.
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