Anglogold Extends Offer Period For Normandy Transa
AngloGold Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1944/017354/06)
ISIN Number: ZAE000014601
JSE Share Code: ANG
NEWS RELEASE
CORPORATE AFFAIRS DEPARTMENT
16th FLOOR, 11 DIAGONAL STREET
JOHANNESBURG 2001
TELEPHONE: (+27 11) 637-6385
FAX: (+27 11) 637-6399/6400
11 January 2002
ANGLOGOLD EXTENDS OFFER PERIOD FOR NORMANDY TRANSACTION
AngloGold has given notice that it has extended the period in which Normandy
shareholders can accept its offer from 19:00 Sydney time on 11 January 2002
to 19:00 Sydney time on 18 January 2002 in order to give shareholders the
fullest opportunity to consider the offer in the light of market information
and recent share price movements.
At the close of the New York market on Thursday, 10 January, the offers were
just 2 cents (or 1%) apart. At close of business in Australia today, 11
January, AngloGold had received acceptances in respect of 146. 3 million
Normandy shares, or 6.5% of Normandy's issued capital.
Commenting on this decision, AngloGold's Chairman and CEO, Bobby Godsell,
said, "The volume of acceptances received in the last two days, with 1.7% on
Thursday and 4% today indicates growing support for our offer. The two bids
have only recently come together, presenting Normandy shareholders with a
difficult decision. It's our judgement that they need a little more time to
consider the competing value propositions and process their acceptances. I
am keen, however, to bring this matter to a conclusion as soon as possible.
"The continuing strength of AngloGold's share price which has risen by 16%
since we announced our offer for Normandy on 5 September gives me great
confidence in the upside potential to be had from accepting the AngloGold
offer."
The AngloGold offer is open now, promises payment (shares and cash) within
five working days, is unconditional, will entitle those who accept the offer
and hold their shares to AngloGold's 2001 final dividend, and also gives
Normandy shareholders the opportunity to acquire an additional A$7,500 worth
of AngloGold stock at a 7.5% discount to market.
Newmont's offer is conditional and the earliest date the conditions can be
met is 13 February 2002 (the date of its shareholder meeting to approve the
issue of Newmont shares under its offer), exposing shareholders to the risk
of a drop in the Newmont share price. The Newmont stock has fallen by 11%
since AngloGold announced its bid for Normandy on 5 September 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.c
om.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 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@anglogol
d.com
In Europe
Tomasz Nadrowski
+41 22 718 3312
(tel)
+41 22 718 3335
(fax)
+41 79 345 9774
(mobile)
tnadrowski@anglogo
ld.com
Alex Buck
+44 20 7664 8712
(tel)
+44 20 7664 8711
(fax)
+44 7932 2740 452
(mobile)
abuck@anglogold.co
m
In the USA
Charles Carter
800 417 9255 toll
free
+1 212 750 7999
(tel)
+1 212 750 5626
(fax)
ccarter@anglogold.
com
Ends
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