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AGL
ANAAL
Anglo American Plc - Anglo American plc announces increase in buyback to US $2
billion
ANGLO AMERICAN PLC
(the "Company")
JSE Code: AGL
ISIN Code: GB0004901517
ANGLO AMERICAN plc (the "Company")
Anglo American plc announces increase in buyback to US $2 billion
Anglo American plc ("Anglo American" or the "Company")
US$2bn Purchases of Ordinary Shares in the Company
Further to the announcements made on 26 October 2005 and 22 February 2006, Anglo
American today announces that its programme of market purchases of its Ordinary
Shares is increased by US$1bn to a total of US$2bn.
The increase is due to the conversion to date of the majority of the US$1.1bn
convertible bonds issued in April 2002 into Ordinary Shares and the programme
will commence immediately.
Purchases will be made either by the Company pursuant to the authority of
shareholders granted at the AGM of the Company in April 2005 (or any renewal of
such authority granted at the AGM of the Company to be held in April 2006) or by
an independent company to be funded by a wholly owned overseas subsidiary of the
Company, which wholly owned subsidiary will have the right to nominate a
transferee for such shares.
Purchases of shares under the programme will result in an enhancement of the
Company"s earnings per share whilst contributing to the efficient management of
the Anglo American group"s capital.
The ordinary share capital of the independent company is owned by a charitable
trust and a majority of the independent company"s directors are independent of
the Anglo American group.
A wholly owned subsidiary of the Company will, under the arrangements entered
into with the independent company, make purchases of Anglo American shares on
behalf of the independent company within the limits of the programme and at
prices per share which will be no more than the higher of the price of the last
independent trade in such shares and the highest current independent bid for
such shares. Out of cash dividends received by the independent company on the
Anglo American shares held by it, the charitable trust shareholder in the
independent company will be entitled to receive approximately 10 per cent; the
balance will be distributed to the Anglo American group. During the term of the
arrangement, the independent company has agreed that it will not exercise voting
rights in respect of shares in the Company held by it. The shares purchased by
the independent company will be treated in the accounts of Anglo American as
treasury shares. Purchases of Anglo American shares by the independent company
under these arrangements will be announced in keeping with existing regulations
governing UK corporate share repurchases.
For further information:
Anglo American
Investor Enquiries
Nick von Schirnding
Tel: +44 207 968 8540
Charles Gordon
Tel: +44 207 968 8933
Anne Dunn
Tel: +27 11 638 4730
Media Enquiries
Pamela Bell
Tel: +44 207 968 8568
Daniel Ngwepe
Tel: +27 11 638 2267
Notes to Editors:
Anglo American plc is one of the world"s largest mining and natural resource
groups. With its subsidiaries, joint ventures and associates, it is a global
leader in platinum group metals, gold and diamonds, with significant interests
in coal, base and ferrous metals, industrial minerals and paper and packaging.
The group is geographically diverse, with operations in Africa, Europe, South
and North America, Australia and Asia. (www.angloamerican.co.uk)
23 March 2006
Sponsor:
J.P.Morgan Equities Limited
Date: 23/03/2006 09:00:18 AM Produced by the JSE SENS Department
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