| Fri 6 Jan 2012, 16:35 | | AGL - Anglo American plc - Anglo American shareholders approve acquisition of |
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AGL
ANAAL
AGL - Anglo American plc - Anglo American shareholders approve acquisition of
controlling interest in De Beers by overwhelming majority
Anglo American plc ("the Company")
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
ISIN number: GB00B1XZS820
Anglo American shareholders approve acquisition of controlling interest in De
Beers by overwhelming majority
Anglo American announces that the resolution to approve its proposed
acquisition of an incremental interest in De Beers, to take its holding from
45 per cent to up to 85 per cent, was passed by the requisite majority at a
General Meeting of the Company held today.
Sir John Parker, Chairman of Anglo American, commented: "The Board of Anglo
American is delighted that our shareholders have shown overwhelming support
for the De Beers transaction. Consolidating control of De Beers, the world`s
leading diamond company, reinforces Anglo American`s commitment to the diamond
industry and to pursuing growth in those resource businesses where we have the
opportunity to expand and capitalise on a favourable long term demand
outlook."
"The transaction is expected to be accretive to underlying earnings for Anglo
American in the year of acquisition, before depreciation or amortisation of
fair value adjustments, and we are confident that we will be able to enhance
value for our shareholders, over time, through the benefits derived from our
scale and expertise, combined with the leadership of De Beers` business and
its iconic brand."
Cynthia Carroll, Chief Executive of Anglo American, commented: "For more than
a century, De Beers has captured the imagination of the market and consumers
and remains one of the most renowned names in luxury goods and this is
testament to its strong leadership. Our priority is to build on the
outstanding work of the Oppenheimer family and De Beers` management to seize
the opportunities of the evolving diamond market."
"Diamonds have long been a core part of Anglo American`s strategy; we believe
in the strong fundamentals of the diamond market, driven by demand across
emerging and developed economies. Consolidating control of De Beers provides
us Anglo American with a unique opportunity to further differentiate our
portfolio and strengthen our exposure to late development cycle demand. We are
truly excited to be leading De Beers through the next development phase in its
rich history."
Electoral Reform Services acted as independent assessors and the result of the
poll was as follows.
Total Voting Rights (Issued share capital excluding Treasury Shares) at
meeting date: 1,323,431,496
Number of votes per share: One
Meeting type: General Meeting
Resolution: To approve the acquisition by the Company and/or its subsidiaries
of the entire equity and shareholder loan interests of the CHL Holdings
Limited group in De Beers SA and DB Investments SA or such proportion of such
interests as the Company and/or its subsidiaries is entitled to acquire if the
Government of the Republic of Botswana (acting through Debswana Investments
SA, as nominee) exercises, in whole or in part, its existing pre-emption
rights.
Shares for (Including Discretionary): 775,852,455 (99.94% of shares voted)
Shares Against: 477,586 (0.06% of shares voted)
Shares Withheld: 8,459,294
Shares withheld are not votes in law and have not been counted in calculating
the proportion of votes for and against the resolution.
This announcement together with full details of the transaction and the
resolution (as set out in the circular sent to shareholders on 2 December
2011) is available at www.angloamerican.com.
In accordance with LR 9.6.2, the Company has submitted copies of the
resolution passed at the General Meeting to the National Storage Mechanism
which will shortly be available for inspection at www.hemscott.com/nsm.do
The transaction remains subject to regulatory and government approvals and is
expected to close in the second half of this year.
For further information, please contact:
Media Investors
UK UK
Emily Blyth Leng Lau
Tel: +44 (0)20 7968 8481 Tel: +44 (0)20 7968 8540
Caroline Crampton
Tel: +44 (0)20 7968 2192
Leisha Wemyss
Tel: +44 (0)20 7968 8607
Nicholas Jordan
Company Secretary
Anglo American plc
20 Carlton House Terrace
London SW1Y 5AN
Registered Number 3564138
Notes to editors:
Anglo American plc is one of the world`s largest mining companies, is
headquartered in the UK and listed on the London and Johannesburg stock
exchanges. Anglo American`s portfolio of mining businesses spans bulk
commodities - iron ore and manganese, metallurgical coal and thermal coal;
base metals - copper and nickel; and precious metals and minerals - in which
it is a global leader in both platinum and diamonds. Anglo American is
committed to the highest standards of safety and responsibility across all its
businesses and geographies and to making a sustainable difference in the
development of the communities around its operations. The company`s mining
operations and extensive pipeline of growth projects are located in southern
Africa, South America, Australia, North America and Asia.
www.angloamerican.com
6 January 2012
Sponsor: UBS South Africa (Pty) Ltd
Date: 06/01/2012 16:35:20 Produced by the JSE SENS Department.
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