| Fri 5 Oct 2007, 12:42 | | Anglo - Anglo American Plc - Tarmac gives notice t |
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AGL
ANAAL
Anglo - Anglo American Plc - Tarmac gives notice to acquire 50% of United
Marine Holdings
Anglo American plc
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
ISIN number: GB00B1XZS820
Tarmac gives notice to acquire 50% of United Marine Holdings
Tarmac Ltd (Tarmac), a wholly-owned subsidiary of Anglo American plc, has
given notice of the exercise of an option to acquire 50% of United Marine
Holdings Ltd (UMH) from Hanson Quarry Products Europe Limited (Hanson), a
subsidiary of HeidelbergCement AG. UMH is currently a 50/50 joint venture
between Tarmac and Hanson, and the option, which is contained in the
shareholders` agreement relating to UMH, relates to a change of control
provision which Tarmac considers has been triggered by the acquisition of
Hanson PLC by HeidelbergCement AG. Tarmac and Hanson are holding discussions
that could lead to additional or alternative mutually beneficial
arrangements in relation to UMH.
UMH is a marine aggregates business, operating dredging ships and loading
wharves on and around the coasts of England and Wales. Its unaudited
accounts for the year ending 31 December 2006 show 50% of net assets to be
approximately GBP17m, 50% of gross assets to be approximately GBP29m, and
50% of operating profit to be approximately GBP5m. Completion of the
transaction will result in Tarmac holding 100% of UMH.
The consideration, which under the terms of the shareholders` agreement is
to be determined either by negotiation between Hanson and Tarmac, or by
reporting accountants on the basis of the market value of the interest to be
acquired, will be settled in cash, and is not expected to have a material
impact on Anglo American plc.
The managing director of UMH is Kevin Seaman, who has held that position for
7 years.
For further information:
Investor and Media Enquiries
Charles Gordon
Tel: +44 207 968 8933
Anna Poulter
Tel: +44 207 968 2155
5th October 2007
JSE Sponsor: UBS
Notes to Editors:
Anglo American plc is one of the world`s largest mining and natural resource
groups. With its subsidiaries, joint ventures and associates, it is a global
leader in platinum group metals and diamonds, with significant interests in
coal, base and ferrous metals, as well as an industrial minerals business
and a stake in AngloGoldAshanti. The Group is geographically diverse, with
operations in Africa, Europe, South and North America, Australia and Asia.
(www.angloamerican.co.uk)
Date: 05/10/2007 12:42:16 Produced by the JSE SENS Department.
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