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Application For Secondary Listing On The London Stock Exchange And Publication Of Prospectus
Anglo American Platinum Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1946/022452/06)
Share Code: AMS
ISIN: ZAE000013181
8 April 2025
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM
THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA OR ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE
UNLAWFUL.
APPLICATION FOR SECONDARY LISTING ON THE LONDON STOCK EXCHANGE AND PUBLICATION OF PROSPECTUS
Anglo American Platinum Limited (proposed to be renamed Valterra Platinum Limited 1) (the "Company", together with its
subsidiaries, the "Group") hereby announces that it proposes to apply (i) to the Financial Conduct Authority in the United
Kingdom ("UK") (the "FCA") for the admission of the entire issued share capital in the Company (the "Shares") to listing on the
Equity Shares (International Commercial Companies Secondary Listing) category of the official list (the "Official List") of the FCA,
and (ii) to the London Stock Exchange plc ("London Stock Exchange") in the UK for admission of the Shares to trading on the
main market for listed securities ("Main Market") of the London Stock Exchange (together, "Admission").
Given the Company's proposed demerger from Anglo American plc ("Anglo American"), as announced by Anglo American in
May 2024 and set out in a circular published by Anglo American today, the Company believes that the Admission will ensure that
the high number of Anglo American's existing, UK-based shareholders will not be prevented from holding, or continuing to hold,
shares in the Company following the demerger. The Company also believes that a listing in London, in addition to the Company's
primary listing on the JSE, will benefit its geographically diverse shareholder base and will assist in building the Company's capital
markets profile, enhancing the Company's share trading liquidity and support its global shareholder base.
The effective date of the demerger is expected to be on Saturday, 31 May 2025, assuming the relevant shareholder approval is
obtained at Anglo American's general meeting to be held on 30 April 2025 as set out in Anglo American shareholder circular
published today. In the circular, Anglo American has confirmed that it will continue to hold a c19.9% shareholding in the Company
following the demerger, which it intends to retain for at least 90 days following the demerger (subject to exceptions customary
for a transaction of this nature), with this shareholding position to be managed responsibly over time to effect a full
separation. The circular is available on www.angloamerican.com/investors/anglo-american-platinum-demerger.
The Company is and will remain primary listed on the Main Board of the Johannesburg Stock Exchange (the "JSE") under ticker
symbol "AMS" (to be changed to "VAL" to correspond to the Company's proposed name of Valterra Platinum Limited following
the Company's proposed name change). It is expected that Admission will occur at 8:00 am BST on Monday, 2 June 2025
whereafter the Company's Shares will trade on the London Stock Exchange under the ticker symbol "VALT".
The Company's prospectus, which was prepared solely in connection with the Admission in the UK (the "Prospectus"), has today
been approved by the FCA and published by the Company. The Prospectus contains certain business and financial information
and risk factors relating to the Group. The Prospectus also contains information on the Company's recent performance, for the
two months ended 28 February 2025.
(1) Subject to approval by shareholders of the Company at its annual general meeting on 8 May 2025 and proposed to commence trading under the name on 28
May 2025.
Craig Miller, CEO of Anglo American Platinum said: "As an independent company with a new name – Valterra Platinum – we offer
an exciting investment proposition based on our industry-leading resource endowment and integrated processing capacity. All
our managed mining assets are in the first half of the cost curve which, together with our leading integrated value chain, provides
us with meaningful pathways to deliver value-accretive growth. With global Platinum Group Metals (PGMs) supply in deficit,
minimal industry investment in new production capacity, and a strong case for enduring demand, we are confident about the
medium and long-term outlook for PGMs. Together with our disciplined approach to capital allocation and robust balance sheet,
we are positioned strongly to continue delivering leading shareholder returns through the cycle. We believe that a listing on the
London Stock Exchange, in addition to our current listing on the Johannesburg Stock Exchange, will benefit our geographically
diverse shareholder base and will assist in building the Group's profile and providing a larger market for trading in our shares."
The Prospectus will shortly be available on the Company's website at
https://www.angloamericanplatinum.com/investors/demerger. A copy of the Prospectus has been submitted to the National
Storage Mechanism in the UK and will shortly be available for inspection at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
The Prospectus does not constitute an offer or invitation to any person to subscribe for or purchase any Shares in any jurisdiction.
The Company is not offering any Shares for cash and therefore will not receive any proceeds as a result of Admission.
ABOUT THE GROUP
The Group is one of the world's leading primary producers of Platinum Group Metals (PGMs), with operations spanning five
mines (including one on care and maintenance), five smelters (including one currently on care and maintenance), and several
other upstream and downstream processing operations. PGMs serve a diverse set of industrial, electronic and metallurgical
processes. Global demand for PGMs can be broadly categorised into: automotive demand; industrial demand; and as precious
metals for jewelry or investment products. PGMs have unique properties that make them key to the modern economy and to
developments in clean chemistry, decarbonisation and reducing air pollution, such as playing a critical role in autocatalysts for
all types of combustion engines including increasingly popular hybrid vehicles. PGMs are critical to the economic and national
security needs of the world's largest economies and trade blocks and are on the critical minerals lists of the USA and EU. The
Group has the largest PGM resource base globally, and one of the largest processing capabilities of the PGM miners in Southern
Africa, where it invests in its infrastructure to deliver cost competitive production. The Group has an established track record as
one of the world's leading primary producers of PGMs through its over 90-year history of mining, processing, refining and
marketing these metals. The Company has a core commitment to safety and zero harm, and a clear focus on sustainability to
create and protect value. The group is well-positioned for improving commodity fundamentals and is executing a clear action
plan to embed operational excellence, improve resilience and optimise value creation as a competitive leader in the PGM
industry.
SETTLEMENT AND TRADING
Trades in securities in uncertificated form are settled on the London Stock Exchange through the CREST system. CREST is a
paperless settlement procedure enabling securities to be evidenced otherwise than by a certificate and transferred otherwise
than by a written instrument.
As the Company is a non-UK company, the Shares cannot be directly held in uncertificated form or transferred electronically in
the CREST system. To enable shareholders and investors to hold and transfer interests in such Shares, and settle the trades in the
Shares traded on the London Stock Exchange through the CREST system, the Company has engaged Computershare Investor
Services PLC to hold the relevant Shares and issue de-materialised depositary interests ("Depositary Interests") representing the
underlying Shares which are held on trust for the holders of the Depositary Interests.
The Depositary Interests are not themselves admitted to trading on the London Stock Exchange but represent a mechanism by
which trades in the Shares placed on the London Stock Exchange can be settled in CREST. Once settled, the holders can either
continue to hold their interests in Shares in the form of Depositary Interests (in CREST) or withdraw their interests from CREST
(at which point the underlying Shares will be transferred in certificated form to them on the principal share register).
For details on trading and settlement of the Shares by qualifying Anglo American shareholders, please refer to the Trading and
Dealing in Shares section of the Prospectus.
ADMISSION STATISTICS
Number of Shares in issue on Admission 265,292,206
ISIN number of the Shares and Depositary Interests ZAE000013181
SEDOL BV1D8Q6
Legal entity identifier (LEI) number 529900RORCZ0E5S5FX81
Ticker symbol on London Stock Exchange VALT
The Shares are quoted and traded in South African Rands on the JSE and following Admission, will be quoted and traded in Pound
Sterling (GBP) on the London Stock Exchange.
PRINCIPAL SHARE REGISTRAR AND LOCATION OF PRINCIPAL REGISTER OF MEMBERS
Computershare Investor Services Proprietary Limited of Rosebank Towers, 15 Biermann Avenue, Rosebank 2196, South Africa
remains the Company's principal share registrar.
Computershare Investor Services (Jersey) Limited, of 13 Castle Street, St. Helier, JE1 1ES, Jersey will be the Company's Jersey
branch share register.
For further information, please contact:
Investors: Media:
Theto Maake Cindy Maneveld
(SA) +27 (0) 83 489 5215 (SA) +27 (0) 82 201 4779
theto.maake@angloamerican.com cindy.maneveld@angloamerican.com
PlatinumIR@angloamerican.com
Marcela Grochowina
(SA) +27 (0) 82 400 3222
marcela.grochowina@angloamerican.com
PlatinumIR@angloamerican.com
Notes:
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. 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
Anglo American is a leading global mining company focused on the responsible production of copper, premium iron ore and
crop nutrients – future-enabling products that are essential for decarbonising the global economy, improving living standards,
and food security. Our portfolio of world-class operations and outstanding resource endowments offers value-accretive growth
potential across all three businesses, positioning us to deliver into structurally attractive major demand growth trends.
Our integrated approach to sustainability and innovation drives our decision-making across the value chain, from how we
discover new resources to how we mine, process, move and market our products to our customers – safely, efficiently and
responsibly. Our Sustainable Mining Plan commits us to a series of stretching goals over different time horizons to ensure we
contribute to a healthy environment, create thriving communities and build trust as a corporate leader. We work together with
our business partners and diverse stakeholders to unlock enduring value from precious natural resources for our shareholders,
for the benefit of the communities and countries in which we operate, and for society as a whole. Anglo American is re-
imagining mining to improve people's lives.
Anglo American is currently implementing several major structural changes to unlock the inherent value in its portfolio and
thereby accelerate delivery of its strategic priorities of Operational excellence, Portfolio simplification, and Growth. This
portfolio transformation will focus Anglo American on its world-class resource asset base in copper, premium iron ore and crop
nutrients, once the sale of our steelmaking coal and nickel businesses, the demerger of our PGMs business (Anglo American
Platinum), and the separation of our diamond business (De Beers) have been completed.
www.angloamerican.com
Disclaimer
This document is for information purposes only and does not constitute, nor is to be construed as, an offer to sell or the
recommendation, solicitation, inducement or offer to buy, subscribe for or sell shares in Anglo American Platinum or any other
securities by Anglo American Platinum or any other party. Further, it should not be treated as giving investment, legal, accounting,
regulatory, taxation or other advice and has no regard to the specific investment or other objectives, financial situation or
particular needs of any recipient.
Forward-looking statements and third party information
This document may include forward-looking statements. All statements other than statements of historical facts included in this
document, including, without limitation, those regarding Anglo American Platinum's financial position, business, acquisition and
divestment strategy, dividend policy, plans and objectives of management for future operations, prospects and projects
(including development plans and objectives relating to Anglo American Platinum's products, production forecasts and Ore
Reserve and Mineral Resource positions) and sustainability performance related (including environmental, social and
governance) goals, ambitions, targets, visions, milestones and aspirations, are forward-looking statements. By their nature, such
forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Anglo American Platinum or industry results to be materially different from any future
results, performance or achievements expressed or implied by such forward-looking statements.
Such forward-looking statements are based on numerous assumptions regarding Anglo American Platinum's present and future
business strategies and the environment in which Anglo American Platinum will operate in the future. Important factors that
could cause Anglo American Platinum's actual results, performance or achievements to differ materially from those in the
forward-looking statements include, among others, levels of actual production during any period, levels of global demand and
product prices, unanticipated downturns in business relationships with customers or their purchases from Anglo American
Platinum, mineral resource exploration and project development capabilities and delivery, recovery rates and other operational
capabilities, safety, health or environmental incidents, the effects of global pandemics and outbreaks of infectious diseases, the
impact of attacks from third parties on our information systems, natural catastrophes or adverse geological conditions, climate
change and extreme weather events, the outcome of litigation or regulatory proceedings, the availability of mining and
processing equipment, the ability to obtain key inputs in a timely manner, the ability to produce and transport products
profitably, the availability of necessary infrastructure services, the development, efficacy and adoption of new or competing
technology, challenges in realising resource estimates or discovering new economic mineralisation, the impact of foreign
currency exchange rates on market prices and operating costs, the availability of sufficient credit, liquidity and counterparty risks,
the effects of inflation, war, conflict, political or civil unrest, uncertainty, tensions and disputes and economic and financial
conditions around the world, evolving societal and stakeholder requirements and expectations, shortages of skilled employees,
unexpected difficulties relating to acquisitions or divestitures, competitive pressures and the actions of competitors, activities
by courts, regulators and governmental authorities such as in relation to permitting or forcing closure of mines and ceasing of
operations or maintenance of Anglo American Platinum's assets and changes in taxation or safety, health, environmental or other
types of regulation in the countries where Anglo American Platinum operates, conflicts over land and resource ownership rights
and such other risk factors identified in Anglo American Platinum's most recent Annual Report. Forward-looking statements
should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking
statements. These forward-looking statements speak only as of the date of this document. Anglo American Platinum expressly
disclaims any obligation or undertaking (except as required by applicable law) to release publicly any updates or revisions to any
forward-looking statement contained herein to reflect any change in Anglo American Platinum's expectations with regard thereto
or any change in events, conditions or circumstances on which any such statement is based.
Nothing in this document should be interpreted to mean that future earnings per share of Anglo American Platinum's will
necessarily match or exceed its historical published earnings per share. Certain statistical and other information included in this
document is sourced from third party sources (including, but not limited to, externally conducted studies and trials). As such it
has not been independently verified and presents the views of those third parties, but may not necessarily correspond to the
views held by Anglo American Platinum and Anglo American Platinum expressly disclaims any responsibility for, or liability in
respect of, such information.
Date: 08-04-2025 04:00:00
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