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AngloGold Ashanti sets course for major corporate reorganization

2 years ago
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AngloGold Ashanti sets course for major corporate reorganization

AngloGold Ashanti Limited has unveiled ambitious plans for a comprehensive corporate reorganization transaction, aptly named the “Reorganisation.” This strategic move will witness the emergence of AngloGold Ashanti plc, a new holding company incorporated under the laws of England and Wales, as the ultimate parent entity, encompassing the entire AngloGold Ashanti group.

In a transformative maneuver, shareholders of AngloGold Ashanti Limited will receive new ordinary shares in AngloGold Ashanti plc on a one-to-one basis. This shift will lead to the delisting of AngloGold Ashanti Limited shares from all existing exchanges, including the Ghana Stock Exchange (GSE).

The Reorganisation’s bold vision also entails seeking a primary listing on the prestigious New York Stock Exchange for AngloGold Ashanti plc, supplemented by secondary listings on both the Johannesburg Stock Exchange and the GSE. As part of the comprehensive restructuring, existing depositary receipts tied to AngloGold Ashanti Limited shares (GSE:AADS), presently listed on the GSE, will be delisted, making way for novel depositary receipts linked to AngloGold Ashanti plc shares to take their place on the GSE.

Anticipated for approval by AngloGold Ashanti Limited shareholders, a crucial shareholders’ meeting is scheduled for Friday, 18 August 2023. Mindful of the importance of transparent communication, an information supplement, bearing the prior endorsement of the Securities and Exchange Commission, is in the pipeline for distribution. Shareholders in Ghana will be furnished with this informative document via secure post and/or electronic mail channels.

The impending Reorganisation marks a significant milestone in AngloGold Ashanti’s corporate journey, paving the way for a streamlined structure and fortified global market presence, particularly with the sought-after primary listing on the New York Stock Exchange. Investors and market participants alike keenly observe the unfolding developments as the company charts its course towards enhanced prospects and opportunities in the international financial landscape.

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