Anglo American To Demerge South Africa Thermal Coal Operations To Form Thungela Resources

By RTTNews6 days ago


(RTTNews) - Anglo American Plc (AAUKY.PK, AAL.L) Thursday said it plans to demerge its thermal coal operations in South Africa.

The separation will be implemented through the transfer of Anglo American's thermal coal operations in South Africa to a new holding company, Thungela Resources Limited, the demerger of the Thungela shares to Anglo American shareholders and the primary listing of Thungela's shares on the Johannesburg Stock Exchange and standard listing on the London Stock Exchange.

The demerger is subject to the approval of Anglo American's shareholders on May 5. If it is approved, it is expected that the demerger would be effective on June 4, with Thungela's shares being listed and admitted to trading on the JSE and LSE on June 7.

Continue read on