| Tue 12 Nov 2002, 17:51 | | AngloGold - REVISED TERMS OF ODD-LOT OFFER |
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AngloGold - REVISED TERMS OF ODD-LOT OFFER
ANGLOGOLD LIMITED
(Registration number 1944/017354/06)
(Incorporated in the Republic of South Africa)
("AngloGold")
ISIN: ZAE000014601
JSE Share code: ANG
REVISED TERMS OF ODD-LOT OFFER
1. Introduction
On 11 November 2002, AngloGold announced an odd-lot offer ("the odd-lot offer")
to facilitate a reduction in the number of odd-lot holders in AngloGold in an
equitable manner. The odd-lot offer was made at an offer price of R493.32 per
ordinary share, being the volume weighted average traded price of AngloGold
ordinary shares on the JSE Securities Exchange South Africa ("the JSE") over the
10 trading days ended Tuesday, 29 October 2002.
2. Mechanism of the odd-lot offer
In terms of the odd-lot offer, all ordinary shareholders who hold, individually,
in aggregate less than 50 ordinary shares ("odd-lot holdings") are afforded the
opportunity to participate in the odd-lot offer, which opened at 09:00 on
Monday, 11 November 2002 and closes at 16:00 on Friday, 20 December 2002. The
odd-lot offer will be implemented on the basis that odd-lot holders may, during
the aforementioned offer period, elect to:
- sell their odd-lot holdings to AngloGold at the offer price of R493.32 per
ordinary share ("the cash alternative"); or
- purchase sufficient additional AngloGold ordinary shares at R468.65, being
the offer price less a 5% discount, per ordinary share to increase their odd-lot
holdings to 50 ordinary shares ("the share purchase alternative"); or
- retain their odd-lot holdings.
3. Revised terms of the odd-lot offer
The board of directors of AngloGold has, with the consent of the JSE, resolved
to restrict the offer to those shareholders who are odd-lot holders as at the
close of business on Tuesday, 19 November 2002 and who remain odd-lot holders
until the close of business on Friday, 20 December 2002. The last day to trade
on the JSE to participate in the odd-lot offer will therefore be Tuesday,
12 November 2002.
Save as set out in this announcement, the terms of the odd-lot offer set out in
the announcement dated 11 November 2002 and as contained in the circular to
AngloGold shareholders of the same date, remain unchanged.
4. Rationale
Subsequent to the decision of the board of directors of AngloGold to implement
the offer and the setting of the offer price of R493.32 on 29 October 2002, the
share price has increased by some 12%, introducing an unintended arbitrage
opportunity. Since this was not the intention of the company, it approached the
JSE for assistance in formulating a revision to the offer which would achieve
AngloGold`s original objects.
5. Revised salient dates and times FOR THE ODD-LOT OFFER
2002
Election period for the odd-lot offer Monday, 11 November
opens at 09:00 on
Last day to trade on the JSE in order Tuesday, 12
to participate in the odd-lot offer November
Record date to determine those Tuesday, 19
shareholders entitled to participate November
in the odd-lot offer at the close of
business on
General meeting to be held at 10:00 Thursday, 5
on December
Results of general meeting published Thursday, 5
in the South African press on Friday, December
6 December and released on all
relevant stock exchanges` news
services on
Circular containing a second form of Friday, 6 December
surrender posted to shareholders on
Election period for the odd-lot offer Friday, 20 December
closes (and forms of election to be
received by) 16:00 on
Date to determine those shareholders, Friday, 20 December
who were also recorded in the
register on Tuesday, 19 November
2002, entitled to participate in the
odd-lot offer at the close of
business on (see note 3)
Implementation of the odd-lot offer Friday, 20 December
takes effect after close of business
on
Results of the odd-lot offer Monday, 23 December
published in the South African press
and released on all relevant stock
exchanges` news services on
Safe custody accounts Monday, 23 December
debited/credited and updated at
CSDP/broker, in respect of
shareholders holding dematerialised
shares who accepted the odd-lot
offer, on
Cheques posted/electronic funds Monday, 23 December
transfers effected in respect of
certificated shareholders against
surrender of existing document(s) of
title pursuant to:
- the sale of odd-lot holdings in
respect of certificated shares, or
- the election by shareholders of the
cash alternative
from
2003
New share certificates posted to Monday, 6 January
cerificated shareholders who accepted
the odd-lot offer from
Notes:
1. The odd-lot offer is not available to holders of
AngloGold ADSs and CDIs and to shareholders whose
registered addresses are, or who are located, in the
United States or to shareholders who are U.S. persons.
2. Any AngloGold shares purchased on the JSE after
Tuesday, 12 November 2002 will not be eligible to
participate in the odd-lot offer.
3. Any AngloGold shareholder who holds an odd-lot at the
close of business on Tuesday, 19 November 2002 and who
does not hold that odd-lot at the close of business on
Friday, 20 December 2002 will not be eligible to
participate in the odd-lot offer.
4. Shareholders may not dematerialise or rematerialise
their AngloGold shares from the commencement of business
on Wednesday, 13 November 2002 to the close of business on
Tuesday, 19 November 2002.
5. Dematerialised odd-lot shareholders are required to
notify their duly appointed CSDP or broker of their odd-
lot offer election in the manner and time stipulated in
the custody agreement governing the relationship between
an odd-lot holder and his CSDP or broker.
6. The above dates and times are subject to change. Any
changes will be published in the South African press and
released on all relevant stock exchanges` news services.
7. All times shown are South African local times.
6. Circular
A copy of this announcement will be posted to the ordinary shareholders of
AngloGold on or about Thursday, 14 November 2002. The announcement will also be
available on the Internet at http://www.anglogold.com and additional copies in
printed format may be obtained from the offices of AngloGold`s share registrars
in Johannesburg, Bristol and Perth.
Johannesburg
12 November 2002
JSE Sponsor Legal Advisers
UBS Warburg Australia - Freehills
South Africa - Tabacks
United States of America & United Kingdom
- Shearman & Sterling
Date: 12/11/2002 05:48:28 PM Produced by the JSE SENS Department
