AngloGold Announces CDI Split in Australia
AngloGold Ltd has today announced a plan to implement a 10-for-one split of
the AngloGold Chess Depository Interests (CDIs), which trade on the
Australian Stock Exchange.
Under the proposal each existing CDI will effectively be divided into 10
CDIs, so that one CDI will represent a tenth of an AngloGold share.
AngloGold announced its intention to make an offer to acquire Normandy
Mining Ltd on September 5 on the basis of 2.15 AngloGold shares for every
100 Normandy shares held.
This offer valued Normandy shares at $1.42 per share, representing a 29%
premium to Normandy's closing share price on the day prior to the
announcement of the offer.
The CDI split will not affect the value of the AngloGold offer, but as a
result of the split, Normandy shareholders who accept the offer and choose
to hold their shares on the Australian register, will receive 21.5 AngloGold
CDIs for every 100 Normandy shares.
Bobby Godsell, AngloGold CEO said: "We believe the CDI split will enhance
AngloGold's appeal to Australian retail investors."
"This will increase the accessibility of AngloGold stock to Australian
investors by significantly lowering the share's quoted price, and should
have a positive effect on the liquidity of Anglogold CDIs trading on the
ASX," he said.
"This step is consistent with our intention to encourage private, individual
Normandy shareholders to accept our offer and, indeed, to all private
investors in Australia to become AngloGold shareholders and to trade their
shares in this market."
The 10-for-one CDI split will take effect immediately prior to the allotment
of new shares under the offer and will be fully explained in the Bidder's
Statement Offer Booklet to be sent to shareholders later this month.
Ends
CORPORATE AFFAIRS DEPARTMENT
1st FLOOR, 11 DIAGONAL STREET
JOHANNESBURG 2001
www.anglogold.com
Queries :
In Australia
Andrea Maxey
+61 8 9425 4604 (tel)
+61 8 9625 4650 fax)
+61 438 001 393 (mobile)
amaxey@anglogold.com.au
Helpline
AngloGold has established a toll-free shareholder information line in
Australia, which can be accessed by dialling: 1800 770 019
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
