Anglogold Receives Approval From Australia's Forei
ANGLOGOLD RECEIVES APPROVAL FROM AUSTRALIA'S FOREIGN INVESTMENT REVIEW BOARD
AngloGold received approval today from Australia's Foreign Investment Review
Board (FIRB) for its proposed acquisition of Normandy Mining.
The approval was granted on the following conditions:
- that AngloGold adheres to its undertaking not do anything to prevent
Normandy from honouring its existing commitments with respect to
Australian Magnesium Corporation Limited;
- that AngloGold maintains a corporate headquarters in Australia; and
- that AngloGold retains its listing on the Australian Stock Exchange
(ASX).
AngloGold Chairman and CEO Bobby Godsell said that the conditions were
entirely consistent with the company's intentions.
The AngloGold offer currently values Normandy at A$1.46 per share, based on
the closing price of AngloGold shares on the New York Stock Exchange (NYSE)
on 26 November.
This compares with the current value of the proposed offer by Newmont which
values Normandy at A$1.42 (which could increase by 5 cents per share in the
event of a 90% acceptance of the offer and certain relief being obtained
from the Australian Securities and Investments Commission), based on the
closing share price on the NYSE on 26 November.
Applications by AngloGold have now been lodged with the Australian Takeovers
Panel. These challenge key aspects of Newmont's proposed offer for Normandy
and the related arrangements with Franco Nevada.
AngloGold's offer is open and capable of immediate acceptance with a
scheduled closing date of 14 December 2001.
Ends
www.anglogold.com
Queries:
In South Africa
Steve Lenahan
+2711 637 6248 (tel)
+2711 637 6107 (fax)
+27 83 308 2200 (mobile)
slenahan@anglogold.com
Shelagh Blackman
+2711 637-6379 (tel)
+2711 637-6399 (fax)
+27 83 308 2471 (mobile)
sblackman@anglogold.com
In Australia
Andrea Maxey
+61 8 9425 4604 (tel)
+61 8 9625 4650 fax)
+61 438 001 393 (mobile)
amaxey@anglogold.com.au
Hamish Douglass
Deutsche Bank
+61 2 9258 2039 (tel)
+61 2 9258 2440 (fax)
+61 419 560 349 (mobile)
hamish.douglass@db.com
In the UK
Alex Buck
+44 20 7664 8712 (tel)
+44 20 7664 8711 (fax)
+44 7932 2740 452 (mobile)
abuck@anglogold.com
In the USA
Charles Carter
800 417 9255 toll free
+1 212 750 7999 (tel)
+1 212 750 5626 (fax)
ccarter@anglogold.com
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