Anglogold Ashanti restructures, changes domicile
AngloGold Ashanti, having disposed of its remaining South African operating assets in 2020, has undertaken a comprehensive review of its domicile and listing structure.
The review concluded that the most appropriate corporate structure for AngloGold Ashanti Group is a UK corporate domicile with a US primary listing on the New York Stock Exchange (“NYSE”) and secondary listings on the Johannesburg Stock Exchange (“JSE”) and A2X Markets (“A2X”) in South Africa and on the Ghana Stock Exchange (“GhSE”) in Ghana.
This change in domicile and listing structure is aligned with the transformation of AngloGold Ashanti’s asset base into a diversified global portfolio of high-quality producing assets and projects. The Company has a long standing and growing presence in the US and no longer has operating assets in South Africa.
The proposed changes have a number of benefits that AngloGold Ashanti believes will help facilitate implementation of AngloGold Ashanti’s strategy and greater recognition of its full value.
A corporate domicile in the UK uses a well proven, low-risk and attractive jurisdiction for the AngloGold Ashanti Group and minimizes incremental costs for shareholders.
A new UK incorporated company, AngloGold Ashanti (UK) Limited (to be re-registered as a public limited company and renamed AngloGold Ashanti plc), will make an offer to purchase 100% of AngloGold Ashanti Holdings plc (“AGAH”) which, upon acceptance of the offer, will result in AngloGold Ashanti plc holding all of AngloGold Ashanti’s operations and assets located outside South Africa.
South African shareholders being able to hold AngloGold Ashanti plc Shares on the South African branch register of AngloGold Ashanti plc without using their foreign investment allowance and continue to trade their AngloGold Ashanti plc Shares on the South African capital markets.
