LONDON - Anglo American (JO:AGLJ) PLC announced today that its shareholders have passed the resolution for the demerger of its platinum business, Anglo American Platinum Limited, proposed to be renamed Valterra Platinum Limited, as well as the accompanying share consolidation. The decision was made during the general meeting on Wednesday, with an overwhelming majority of 99.94% votes in favor.
The demerger, which is contingent on certain conditions including regulatory approvals, is scheduled to become effective on May 31, 2025. Following the completion of the demerger, Anglo American Platinum’s ordinary shares are expected to be listed on the London Stock Exchange (LON:LSEG) (LSE) starting June 2, 2025, under the equity shares (international commercial companies secondary listing) segment.
In conjunction with the demerger, Anglo American will undergo a share consolidation, anticipated to take effect on June 1, 2025. The company’s ordinary shares will then be admitted to the LSE’s main market for listed securities the following day. The specific ratio for the share consolidation is set to be announced on May 20, 2025.
The successful vote represents a significant step in the restructuring of Anglo American’s operations, allowing for a focused approach on its diversified resource portfolio. The demerger is part of a strategic initiative to enhance shareholder value by separating its platinum group metals business into a standalone entity.
The company has confirmed that full details of the ordinary resolution and the expected timetable for the demerger and share consolidation are included in the circular to shareholders dated April 8, 2025. Additionally, the resolution passed at the general meeting will be made available on the Financial Conduct Authority’s National Storage Mechanism.
The information in this article is based on a press release statement from Anglo American PLC.
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