Coronation Asset Management acquires beneficial interest in AngloGold Ashanti
Coronation Asset Management Proprietary Limited, an investment management firm that provides financial services to retail and high net-worth individuals, has acquired a 5.24% beneficial interest in the securities of AngloGold Ashanti.
Per this agreement, Coronation Asset Management would gain economic benefits from AngloGold Ashanti by receiving income from the company’s mining operations.
The acquisition is in line with Section 122(3) (b) of the Companies Act, 2008 (Act 71 of 2008), as amended (Companies Act) and paragraph 3.83(b) of the Listings Requirements of the Johannesburg Stock Exchange (JSE) Limited.
AngloGold Ashanti has since informed its shareholders over the new stake of Coronation Asset Management in its company.
As required in section 122(3) (a) of the Companies Act, AngloGold Ashanti said in a statement that it had filed the required notice with the Takeover Regulation Panel (TRP).
AngloGold Ashanti confirmed the deal in a statement issued on 17 August 2021.
AngloGold Ashanti is the third-largest gold producer globally and the largest on the African continent, producing 3.047Moz and employing an average of 36,952 people (including contractors) in 2020.
The company describes itself as a responsible gold miner and, in partnerships with host communities and governments, “we aim to create value for all our stakeholders over the long-term”.
It is listed on the Johannesburg, New York, Australia and Ghana stock exchanges.
The miner has a geographically diverse shareholder base that includes the world’s largest financial institutions.
AngloGold Ashanti’s market capitalisation as of December 31, 2020, stands at $9.4 billion.
It is included in the JSE Top 40 Index, the S&P Global CSA, the FTSE/JSE Responsible Investment Index Series (the FTSE4Good Index), the Responsible Mining Index and the Bloomberg 2021 Gender-Equality Index.
READ ALSO: AngloGold Targets Improvement In Cash, Cost And Safety