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ANGLO AMERICAN PLATINUM LIMITED - Repurchase of Anglo Platinum Shares held by the Lefa La Rona Trust in terms of the Alchemy Community Share Scheme

Release Date: 23/09/2020 13:05
Code(s): AMS     PDF:  
Wrap Text
Repurchase of Anglo Platinum Shares held by the Lefa La Rona Trust in terms of the Alchemy Community Share Scheme

ANGLO AMERICAN PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1946/022452/06)
Share Code: AMS
ISIN: ZAE000013181
(“the Company" or "Anglo American Platinum")


Repurchase of Anglo American Platinum Shares held by the Lefa La Rona Trust in terms of the
Alchemy Community Share Scheme

Introduction

Shareholders are referred to the announcement released on 25 August 2020 where the company
announced the successful settlement of the notional vendor finance (NVF) by its community share scheme
(Alchemy Scheme), resulting in the Lefa Le Rona Trust (LLRT), which is the umbrella trust on behalf of the
regional development trusts (DTs), now holding unencumbered shares in Anglo American Platinum . The
settlement of the NVF and transfer of value comes one year prior to the maturity of the Alchemy Scheme
funding period (December 2021), due to Anglo American Platinum’s strong share price performance.

The transaction structure provided for early settlement of the NVF when Anglo American Platinum’s volume
weighted average price (VWAP) reached a trigger price. This trigger event occurred on 27 July 2020 and
consequently the company has repurchased 4,889,680 shares from LLRT on 22 September 2020 at par
value of 10 cents per share (“the Repurchase”).

The Repurchase was done in terms of the authority granted by shareholders for the community share
scheme at the Company’s General meeting held on 14 December 2011.

Details of the Repurchase


 Date of repurchase of securities                     22 September 2020


 Price paid per share                                 Par value of 10 cents per share


 Number of shares repurchased                         4,889,680*


 Value of shares repurchased                          R488,968.00


 Number and percentage of shares which may still      1,400,685 being 0.5% of the Company’s issued
 be repurchased by the Company in terms of its        share capital at the beginning of the share
 specific authority                                   repurchase


 Total shares in issue after the share repurchase     265,292,206



*Rustenburg Platinum Mines Limited, a wholly owned subsidiary of the Company, will retain 500,000 of the
repurchased shares in treasury to satisfy obligations under the share incentive schemes with the remaining
4,389,680 repurchased shares being delisted and cancelled. The Company has applied for the delisting of
these shares from the JSE with effect from Tuesday 29 September 2020. After the repurchase the Company
will have 509,691 shares held in treasury.

Source of funds

The Repurchase was funded from the company’s available cash resources.

Impact of the Repurchase on the financial information of the Company

The acquisition will have no financial effect on the Company or its shareholders, other than in respect of
the repurchase costs that are normally incurred in transactions of this nature. The repurchase results in an
immaterial cash flow impact for the Company and does not have an impact on the Company’s earnings per
share and headline earnings per share.




23 September 2020

Sponsor
Merrill Lynch South Africa Proprietary Limited

For further information, please contact:



Investors:                                       Media:

Emma Chapman                                     Jana Marais

(SA) +27 (0) 11 373 6239                         (SA) +27 (0)79 932 1586

emma.chapman@angloamerican.com                   jana.marais@angloamerican.com



Notes to editors:


Anglo American Platinum Limited is a member of the Anglo American plc Group and is a leading primary
producer of platinum group metals. The company is listed on the Johannesburg Securities Exchange (JSE).
Its mining, smelting and refining operations are based in South Africa, as well as its two joint venture
operations. Elsewhere in the world, the Group owns Unki Platinum Mine in Zimbabwe. Anglo American
Platinum is committed to the highest standards of safety and continues to make a meaningful and
sustainable difference in the development of the communities around its operations.

www.angloamericanplatinum.com

Date: 23-09-2020 01:05:00
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