Last $13.52 USD
Change Today -0.14 / -1.02%
Volume 782.9K
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As of 11:44 AM 09/17/14 All times are local (Market data is delayed by at least 15 minutes).

anglogold ashanti-spon adr (AU) Key Developments

AngloGold Ashanti Scraps Plans To Raise Funds

AngloGold Ashanti Ltd. (JSE:ANG) has decided not to proceed with the proposed restructuring plans and capital raising after consultations with the shareholders. “There has been broad support for the strategic logic of the restructuring, but a number of shareholders have expressed concerns about certain aspects of the proposed transactions, in particular the quantum of the equity capital raising needed to enable the restructuring to be implemented in accordance with regulatory and other requirements”, AngloGold Ashanti stated.

AngloGold Ashanti Seeks To Sell Assets

AngloGold Ashanti Ltd. (JSE:ANG) is seeking to sell its assets. Chief Executive Srinivasan Venkatakrishnan said, "Asset sales are on the cards. We will look at all options."

Anglogold Ashanti Limited to Restructure International Mining Operations

Anglogold Ashanti Limited applied for, and has received, approval from the South African Reserve Bank to restructure its international mining operations under a new UK holding company. This Restructuring will be subject To Approve the shareholders of AngloGold Ashanti.

AngloGold Ashanti Ltd. Announces Executive Changes

AngloGold Ashanti has applied for, and has received, approval from the South African Reserve Bank to restructure its international mining operations under a new UK holding company, Newco. This Restructuring will be subject To Approve the shareholders of AngloGold Ashanti. The company board will continue to be chaired by Sipho Pityana and the existing board will remain with the exception of Michael Kirkwood and David Hodgson who would resign from the AngloGold Ashanti Board to join the Newco Board at the time of its establishment. It is intended to establish the Newco Board consistent with the principles of the UK's Corporate Governance Code including the appointment of a majority of Independent Non-Executive Directors and a Senior Independent Director. The Newco Board would be chaired by Michael Kirkwood. Whilst the AngloGold Ashanti shareholding in Newco remains above 20%, AngloGold Ashanti will have the right to nominate two non-executive Board members. Sipho Pityana and Srinivasan Venkatakrishnan will initially serve as AngloGold Ashanti's non-executive directors on the Newco Board, with Sipho Pityana initially in the role of Deputy Chairman. Srinivasan Venkatakrishnan will remain as CEO of AngloGold Ashanti and will continue to lead an executive team comprising incoming Chief Financial Officer Christine Ramon, Chief Operating Officer Mike O'Hare and Italia Boninelli. Newco will be led by CEO-designate Charles Carter, along with President and Chief Operating Officer Ron Largent, who will be joined on the executive team by Graham Ehm, Maria Sanz Perez and David Noko. A new CFO will be recruited for Newco in due course.

AngloGold Ashanti Intends Listing Of International Mining Operations

AngloGold Ashanti Ltd. (JSE:ANG) has applied for, and has received, approval from the South African Reserve Bank to restructure its international mining operations under a new UK holding company (“Newco”). This restructuring will be subject to approval of the shareholders of AngloGold Ashanti. Newco intends to seek a premium listing on the London Stock Exchange, an inward listing on the Johannesburg Stock Exchange and a listing of American Depositary Receipts on the New York Stock Exchange. The intention is that Newco would hold AngloGold Ashanti’s portfolio of gold production and exploration assets located outside South Africa.

 

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