Demerger of Anglo American Platinum
Anglo American is simplifying its highly diversified portfolio to focus on its copper, premium iron ore and crop nutrients businesses. This is designed to unlock the full value potential of the portfolio as a whole, both the businesses we will retain and grow, and those that we are divesting and demerging.
As part of our portfolio simplification, subject to shareholder approval, our Platinum business will be demerged from the Anglo American Group on 31 May 2025, becoming a wholly independently owned company. Anglo American Platinum Ltd ("Anglo American Platinum") is already listed on the Johannesburg Stock Exchange, and from 2 June 2025 will also be listed on the London Stock Exchange.
Subject to shareholders approving its name change, Anglo American Platinum will also be renamed "Valterra Platinum Limited" (although in this website we continue to refer to Anglo American Platinum throughout for consistency).
This is all part of our Transformation work. You can find out more about this on Eureka!
The demerger of the Anglo American Platinum business may impact shares you hold under the Anglo American Share Incentive Plan ("SIP"). On this page, we explain what happens to the Anglo American shares you hold under the SIP.
For a summary of the impact of the demerger on any other Anglo American share plan(s) you are part of, see the relevant plan page(s). If you own any other Anglo American shares, see our Employee Shareholder page.
How it works
There are two parts to the demerger. Anglo American is the majority shareholder of Anglo American Platinum, and will transfer shares in Anglo American Platinum ("Platinum shares") to our shareholders via a distribution. Afterwards, we will consolidate our Anglo American shares.
The detail of the distribution and the consolidation is set out in a circular which was sent to all Anglo American shareholders on 8 April, and which you can access here.
1: Distribution of Platinum shares
For every 1,075 Anglo American forfeitable shares that you own at the time of the demerger, you will receive 110 Platinum shares.
2: Consolidation of Anglo American shares
To maintain broad comparability of our share price before and after the demerger (as far as is reasonably possible), we will consolidate the Anglo American shares. This means reducing the total number of Anglo American shares, including the forfeitable shares, with the intention that the Anglo American share price after the demerger remains broadly comparable with our share price beforehand.
You may need to pay tax in connection with the distribution and consolidation, as referred to below.
The intention of the share consolidation is that on the completion of this process the total value of your Anglo American and Platinum shares after the demerger should be broadly comparable to the value of your Anglo American shares before the consolidation. However, external market factors may impact share prices, which can go down as well as up.
What this means for your shares
The Anglo American shares you hold under the SIP will be impacted by the demerger.
Distribution
As part of this demerger, Anglo American shareholders will receive something called a "Receivable". This will then be immediately satisfied by (in summary) a transfer of the relevant number of Platinum shares. Whilst you need to be aware of these two steps (including as they are referred to in the tax notes which are available in the resources below), the outcome is that you will end up receiving Platinum shares.
Sell
The default position is that any Platinum shares you receive in respect of your SIP shares, as well as any fractional Platinum shares, will be automatically sold on or as soon as possible after 2 June 2025. The proceeds of the sale will be paid directly by Equiniti to your bank account or by Cheque where bank account details are not held. Please ensure your bank account details are up to date.
Keep
If you would like to keep the Platinum shares instead, you can submit a pre-election to do so – see below for more details.
Notwithstanding any election you make to keep the Platinum shares, any fractional Platinum shares you receive in respect of your SIP shares will still be sold automatically on your behalf on or as soon as possible after 2 June 2025, and the proceeds will be paid to you directly by Equiniti.
Tax
Regardless as to whether your Platinum shares are sold or you choose to keep them, you may need to pay tax on the value of your Receivable, depending on your individual circumstances – including where you pay tax.
If you received shares in Valterra Platinum as part of the demerger, you may need to complete a tax return. To help calculate any tax that may be due, you will need to know the following:
- The share price is based on the closing price of Anglo American Platinum shares on 30 May 2025.
The closing value used for these shares is ZAR 704.72. - This is also your base cost per share, which you'll use to calculate any capital gains tax if you sell the shares in the future.
Equiniti will also provide you with a statement detailing the distribution of the Valterra shares, you will need this statement to complete your tax return.
This should be converted into GBP on the FX rate from the 31 May: the FX rate between ZAR and GBP set out on www.xe.com was 24.199 ZAR : 1 GBP.
Please note, this information is given as a guide, for illustrative purposes only, and it is your responsibility to ensure that you are comfortable with the value which you use to report and pay taxes, including the FX rate applied.
If you are in any doubt about any matters, including but not limited to financial, taxation and legal matters, referred to in this information or their application to your own specific circumstances, you are recommended to seek your own independent financial, tax and legal advice from an appropriately authorised independent professional advisor.
You can find out more by viewing your country's tax notes (see Resources below).
Consolidation
The number of Anglo American shares you hold in the SIP trust will automatically reduce, with the intention of maintaining broad comparability in our share price before and after the demerger.
This will not affect the way your SIP shares are held, which will continue to be held on their existing terms over the reduced number of Anglo American shares.
If you receive a fraction of an Anglo American share
The consolidation may result in you receiving a fraction of an Anglo American share. If this happens, your fraction of a share will be automatically sold and paid to you via payroll. Any applicable tax and National Insurance contributions which arise on the sale of the fraction will be automatically deducted.
Tax
The consolidation is not expected to have any tax impact on the whole number of Anglo American shares that you continue to hold in the SIP.
The sale of any fractions of an Anglo American share that you receive in the SIP trust may be a taxable event, depending on how long you have held your shares in the SIP. If you have held the Anglo American share to which the fraction relates in the SIP trust for less than 5 years (or 3 years in the case of dividend shares), income tax and National Insurance will be due on the sale of the fraction – this will be calculated for you and withheld by your employing Anglo American entity, and you will receive the sale proceeds, less any tax due, via payroll (and you therefore do not need to take any action). If you have held the Anglo American share to which the fraction relates in the SIP trust for longer than 5 years (or 3 years in the case of dividend shares), there will be no tax due on the sale of the fraction, and you will receive the sale proceeds via payroll, without deduction.
What you need to do
Decide if you want to keep your Platinum shares
Once you have the information you need, you can pre-elect to keep your Platinum shares if you want to do so. If you do not make a pre-election, your Platinum shares will be sold automatically for you on, or as soon as possible after, 2 June and you will receive the cash received for these shares from Equiniti. See Pre-election below.
Remember, if you want your Platinum shares to be sold on your behalf, so that you instead receive the cash, you do not need to take any action and do not need to submit a pre-election.
Don't neglect your tax!
Read through your country tax notes to understand what the requirements are in your country (see Resources).
How to make a pre-election
You can arrange to keep your Platinum shares (known as a pre-election) by completing and returning the Form of Instruction (see Resources). This must be completed and sent to Equiniti by email no later than 5pm on 23 May 2025. The form must be signed by you with either a wet ink signature or via DocuSign before being emailed to Equiniti.
You can only use this facility for the Platinum shares you receive in respect of the shares you hold in the SIP trust.
You must have your own sharebroker account which is able to receive the Platinum shares before you can make a pre-election.
Making an election
If you elect to keep your Platinum shares, they will be transferred to a personal brokerage account of your choice – you will need to enter your account details when you make the election.
If the sharebroker details you input into your Form of Instruction are incorrect, Equiniti may not be able to transfer these shares to the intended sharebroker account. If this is the case and you do not provide correct details within two months of making your election, your Platinum shares will be sold and the proceeds paid to your bank account by Equiniti.
It is therefore important that you carefully input the brokerage account details and ensure they are accurate before you submit your election. If you need to set up a new brokerage account, please do so before making the pre-election. Any fees in relation to the transfer of the Platinum shares will be your responsibility to settle.
If you elect to keep your Platinum shares and they are successfully transferred to your new sharebroker account, you'll be able to choose when to sell those shares as normal. Any fraction of a Platinum share you are entitled to receive will be automatically sold and paid to you by Equiniti.
Please refer to the Form of Instruction for the terms and conditions that will apply in relation to any pre-election (available in the Resources section below).
Please note Anglo American Platinum will be renamed Valterra Platinum Limited (subject to shareholder approval). Once the name change takes place, your Platinum shares will appear on your brokerage account as Valterra Platinum shares. This will have no other impact on the shares.
Selling your shares
If you take no action, your Platinum shares will be sold on, or as soon as possible after, 2 June 2025, and may be sold over several days. Your Platinum shares will be sold on the market, so the sale price will depend on the market share price at the time. Please note this means there will be no certainty about the sale price, as there is no minimum or maximum price.
You will receive the sale proceeds directly from Equiniti which will be paid to your bank account or by Cheque. Please make sure your bank details on the ESP Portal are up to date.
Some things to consider
- If you want to sell: If you want your Platinum shares to be sold on your behalf, and for you to receive the cash proceeds, you do not need to take any action.
- If you want to keep: If you want to instead keep your Platinum shares, you need to submit a pre-election to do so. You can only pre-elect to keep all your Platinum shares. If you want to keep only some of your Platinum shares, you will have to make an election to keep all of your Platinum shares and then log into your brokerage account after the demerger to sell the Platinum shares which you do not wish to keep.
- Terms and conditions: The Terms & Conditions for your pre-election to keep the Platinum shares are set out in the Form of Instruction available in the Resources section below.
- Final decision: Your pre-election to keep your Platinum shares is irrevocable, which means you will not be able to change your mind and sell the shares instead.
Any fraction of a Platinum share you receive will be sold alongside your whole Platinum shares.
Separate pre-election facilities may be available for Platinum shares you receive in respect of other share plans. You will need to take separate action if you want to use those pre-election facilities – see the relevant share plan page(s).
Timeline
Elect
Decide if you want to keep your Platinum shares. If you do, you can submit a pre-election via the Form of Instruction.
Demerger
Platinum leaves the Anglo American Group, with shares listed on the Johannesburg and London Stock Exchanges. Any Anglo American shares you own on this date will be impacted by the demerger.
Consolidation
We will reduce the number of Anglo American shares available. This change will show on the Equiniti ESP portal as soon as possible after the consolidation.
Sale
If you do not pre-elect to keep your Platinum shares, they will be automatically sold on your behalf on or following 2 June. Sale proceeds will be paid to you by Equiniti (provided that all sales have completed by this time).
Receive
If you choose to keep your Platinum shares, they will become visible in your brokerage account as soon as possible after the demerger.
Change of name
Anglo American Platinum will be renamed "Valterra Platinum Limited" (subject to shareholder approval). Your Anglo American Platinum shares will then show as Valterra Platinum shares.
Receive proceeds
Regardless of any election made, you will receive proceeds in respect of your fractional entitlement of Anglo American shares via payroll, less any applicable tax withholding.
Tax
You may need to pay tax in connection with the Platinum shares you receive, whether or not you sell them.
See your country tax notes.
Matt's story
Matt has been working at Anglo American for 8 years. He joined the SIP 6 years ago. He has acquired 144 Anglo American shares pursuant to the SIP which are held the SIP trust.
During the Platinum demerger, Anglo American shareholders will receive a Receivable equal to 1 Platinum share* for every 10 Anglo American shares they own. (The actual ratio is slightly different to this, but this has been rounded to 1:10 for the purposes of this illustration).
- The day before the demerger, each Anglo American share is worth (for example) £23.60, so Matt's shares are worth £3,398.40.
- The day of the demerger, the closing price for Platinum shares is (for example) £26* per share and, in this example, the Anglo American share price after the consolidation is still £23.60*.
*These numbers are for illustration purposes only.
Here's what the distribution will look like for Matt
| Matt receives a Receivable which is satisfied with 14.4 Platinum shares | 144 Anglo American shares ÷ 10 shares for each Platinum share |
| Matt's Receivable is worth £374.40 | 14.4 Platinum shares x £26 |
Matt did not make a pre-election, so his Platinum shares were sold on or shortly after 2 June. He receives £374.40 from the sale of his Platinum shares, which is paid to him by Equiniti.
Matt may need to pay tax on the value of the Receivable.
Here's what the consolidation will look like for Matt
Matt's Anglo American shares are consolidated with the intention of maintaining broad comparability of the share price compared to before the demerger.
The consolidation results in Matt holding 126.7 Anglo American shares.
The 0.7 of an Anglo American share is automatically sold on or shortly after 2 June. Matt receives £16.52 from the sale, which will be paid to him in the July payroll, less any applicable tax withholding.
In this illustration, the total value of Matt's shares has been broadly maintained
| Value of Anglo American shares before the demerger | £3,398.40 |
| Value of Platinum shares after the demerger | 14.4 shares sold for £374.40 |
| Value of Anglo American shares after the demerger | 126 shares worth approximately £2,973.60 0.7 of a share sold for £16.52 Total: £2,990.12 |
| Total after the demerger | £3,364.52 |
Important: Please be aware that whilst the consolidation is intended to, as far as possible, broadly maintain comparability of the Anglo American share price before and after the demerger, both the Anglo American share price and the Platinum share prices depend on the share price movements in the market. These share prices can go up as well as down, and the share prices of each of Anglo American and Platinum could be higher or lower than prior to the distribution and consolidation. The values given above are therefore for illustrative purposes only.
Questions & Answers
Anglo American is simplifying its highly diversified portfolio to focus on its copper, premium iron ore and crop nutrients businesses – designed to unlock the full value potential of the portfolio as a whole, both the businesses we will retain and grow, and those that we are divesting and demerging. As part of this, our Platinum business will be demerged from the Anglo American Group on 2 June 2025, becoming a wholly independently owned company called Valterra Platinum Limited.
More information on the Transformation work can be found on Eureka!
Anglo American Platinum Ltd will become an independent company called Valterra Platinum Limited. It will no longer be part of Anglo American and will operate separately.
This change will impact all Anglo American shareholders.
There are two parts to the demerger. Anglo American is the majority shareholder of Anglo American Platinum, and will transfer shares in Anglo American Platinum ("Platinum shares") to our shareholders via a distribution.
After the distribution, we'll consolidate our shares. This means the total number of Anglo American shares will reduce, with the intention that the Anglo American share price after the demerger remains broadly comparable with our share price beforehand.
The demerger will affect everyone who holds shares in Anglo American plc. This includes:
- Independent corporate and retail investors
- Employees with shares – either purchased or vested via share plan participation
- Employees who participate in particular share plans
- Employees who hold shares under the Anglo American Share Incentive Plan ("SIP").
The demerger is expected to take place on 31 May 2025.
Anglo American Platinum Ltd is already listed on the Johannesburg Stock Exchange (JSE) and from 2 June, will also be listed on the London Stock Exchange (LSE), and will become an independently owned company. You should receive your Platinum shares (or cash if you've elected to sell them) in the weeks following.
We will consolidate Anglo American shares on 1 June 2025. You should see this change in your administrator account and/or your personal broker account shortly after.
This change in name does not affect the treatment of the demerger or share consolidation. For consistency we refer throughout to Anglo American Platinum, and to Platinum shares.
Subject to shareholder approval after the demerger you will then see the name change to Valterra Platinum, and shares being referred to as shares in Valterra Platinum Limited (and if you continue to hold the shares you will see this new name in the share details). However, it remains the same company and the same shares.
There are two parts to the demerger. Anglo American is the majority shareholder of Anglo American Platinum.
Anglo American shareholders will receive something called a "Receivable", which will then be immediately satisfied by a transfer of the relevant number of Platinum shares.
Afterwards, we will consolidate our Anglo American shares, in order to maintain broad comparability between the share price before and after the demerger.
Yes, the Anglo American shares you hold under the SIP will be impacted by the demerger.
As part of the demerger, Anglo American shareholders will receive something called a "Receivable". This will then be immediately satisfied by (in summary) a transfer of the relevant number of Platinum shares. Whilst you need to be aware of these two steps (as they are referred to in the tax notes available in the Resources section) the outcome is that you will end up receiving Platinum shares.
Following the demerger, the number of Anglo American shares you hold will automatically reduce. This is intended to maintain broad comparability between the share price before and after the demerger.
To be eligible to receive Platinum shares, you must hold your Anglo American shares on the record date, which is 30 May 2025.
If you sell shares on or before 30 May 2025, you will not be entitled to receive Platinum shares in relation to those shares sold.
If you leave on or before 30 May 2025 the treatment of your shares will depend on your reason for leaving and how long you have held the shares in the SIP Trust.
| Reason for leaving | Impact on your SIP shares |
|---|---|
| Retirement Redundancy Death in service TUPE transfer |
All your SIP shares will be released from the Trust and transferred to you tax free (subject to any conditions that may apply). If you still own the SIP shares on 30 May 2025, they will participate in the demerger. You will receive the distribution of Platinum shares and your Anglo American shares will be consolidated. |
| Resignation Dismissal |
Any partnership and dividend shares you hold under the SIP will be released from the Trust and transferred to you. If these shares have been in the Trust for less than five years in respect of partnership shares and three years in respect of dividend shares, you may need to pay Income Tax and National Insurance on them. If you still own the partnership and/or dividend shares on 30 May 2025, they will participate in the demerger. You will receive the distribution of Platinum shares and your Anglo American shares will be consolidated. Any free or matching shares that have held in the SIP Trust for less than three years will be forfeited. |
The demerger will happen automatically.
The default treatment for SIP participants under the demerger is that any Platinum shares you receive in respect of your SIP shares will be automatically sold by Equiniti on or as soon as possible after 2 June and the proceeds will be paid to you by Equiniti.
You may choose to pre-elect to keep your Platinum shares as soon as possible after the demerger. You'll need to complete and return the Form of Instruction (see Resources) to Equiniti by email no later than 5pm on 23 May 2025. This facility is only available for the Platinum shares you will receive in respect of Anglo American shares you hold in the SIP trust. The form must be signed by you with either a wet ink signature or via DocuSign before being emailed to Equiniti.
If you decide to keep your Platinum shares, they will be transferred to your personal brokerage account (details of which you must specify in the Form of Instruction) and you will be able to sell some or all of them at any time in the future. When you do sell them, you may need to pay tax on any increase in value since you received them on 2 June 2025. This is the difference between the sale price (their value when you sell them) and the cost basis (their value when you received them). You can find this information on the ESP Portal. You must have your own brokerage account which is able to receive the Platinum shares before you can make a pre-election.
Please see your country tax notes in the Resources section for more details.
The number of Platinum shares you receive will depend on:
- How many Anglo American shares you own on the record date
- The distribution ratio 110 Platinum shares for every 1,075 Anglo American shares that you own
You may need to pay tax on the Platinum shares you receive. You can find out more by viewing your country's tax notes in the Resources section.
The distribution ratio of Anglo American shares to Platinum shares may result in a fractional share which will be automatically sold on your behalf. Proceeds received in respect of sales of Platinum shares will be paid to you by Equiniti.
The sale of any fractions of an Anglo American share that you receive in the SIP trust may be a taxable event, depending on how long you have held your shares in the SIP. If you have held the Anglo American share to which the fraction relates in the SIP trust for less than 5 years (or 3 years in the case of dividend shares), income tax and National Insurance will be due on the sale of the fraction – this will be calculated for you and withheld by your employing Anglo American entity, and you will receive the sale proceeds, less any tax due, via payroll (and you therefore do not need to take any action).
If you have held the Anglo American share to which the fraction relates in the SIP trust for longer than 5 years (or 3 years in the case of dividend shares), there will be no tax due on the sale of the fraction, and you will receive the sale proceeds via payroll, without deduction.
You may need to pay tax on the fractional Platinum share you receive. You can find out more by viewing your country's tax notes in the Resources section.
Provided that you complete and return the Form of Instruction to keep your Platinum shares to Equiniti during the pre-election window of 1 May to 23 May, your Platinum shares will be transferred to your personal brokerage account on or shortly after 2 June 2025.
Once you have received your Platinum shares, you can choose to either keep or sell them.
The Platinum business will become a wholly independent business, separate from Anglo American. If you decide to keep your Platinum shares, you will be entitled to any dividends the new Platinum business pays to its shareholders in the future.
You do not need to take any action to sell your Platinum shares. The default treatment for SIP participants under the demerger is that any Platinum shares you receive in respect of your SIP shares will be automatically sold by Equiniti on or as soon as possible after 2 June and the proceeds will be paid to you by Equiniti.
If you decide not to sell your Platinum shares immediately, you'll need to pre elect to keep them by completing and returning the Form of Instruction (see Resources) to Equiniti by email no later than 5pm on 23 May 2025. When you do come to sell them, you may need to pay tax on any increase in value since you received them on 2 June 2025. This is the difference between the sale price (their value when you sell them) and the cost basis (their value when you received them). You can find this information on the ESP Portal.
Please see your country tax notes in the Resources section for more details.
Any Platinum shares you receive will be treated as dividend income for tax purposes. You may need to pay dividend tax on these.
Please see your country tax notes in the Resources section for more details.
If you keep your Platinum shares and sell them at a later date, you may also be liable for capital gains tax on any increase in value when you come to sell them.
Please refer to your country tax notes in the Resources section for more information.
We are unable to provide tax advice. If you need further guidance, we recommend consulting an independent tax advisor.
As explained in the UK Tax Notes, the receipt of the "Receivable" will be treated as the receipt of a dividend for UK tax purposes. This will be the case irrespective of what you choose to do with the Platinum shares that you receive.
If you have dividend tax to pay, this will still apply even if you choose to transfer the Platinum shares to an ISA account. Due to the rules governing ISAs, Anglo American understands that it will not be possible for Platinum shares to be directly transferred into an ISA account, and so a transfer would have to be able to be made in a way permitted by the ISA rules (such as by a "bed and ISA" transfer). However, Anglo American is not able to provide any advice on your personal tax position, including how you choose to use your personal ISA, and so you should contact your ISA provider for further details.
Please see the UK Tax Notes and the SIP page on the Demerger Hub for further information (and for details of the basis on which Anglo American is able to make any statements in relation to tax in this answer).
The value of the Platinum shares received is ZAR 704.72 per share. This is based on the closing share price of Anglo Amercian Platinum shares on 30 May 2025.
The base cost for Platinum shares is ZAR 704.72 per share. This is based on the closing share price of Anglo Amercian Platinum shares on 30 May 2025. You may need to use this base cost to calculate any future Captial Gains tax.
Your Platinum shares will automatically be sold on, or as soon as possible after, 2 June 2025. The sale of your Platinum shares may take place over a number of days. Further information on the terms on which the shares will be sold will be available in the Form of Instruction. You can find these on Equiniti's portal from 1 May.
Any Platinum shares will be sold on the market, and so the sale price will depend on the market share price for Platinum shares when the sale takes place. This could be on 2 June 2025, or at a later date, depending on when the sale is made. There will be no minimum or maximum price, and sales will go ahead at whatever the market price for Platinum shares is at the time of the sale.
It is important that you understand there is no certainty as to what sale price you will receive for your Platinum shares that are sold.
You will receive the proceeds in respect of the sale of your Platinum shares by bank transfer into the bank account details which are held by Equiniti.
The payment, less any applicable deductions, will be made after all sales have been completed, the date of which will depend on when the sales are able to take place.
You can arrange to keep your Platinum shares by completing and returning the Form of Instruction (see Resources) to Equiniti by email no later than 5pm on 23 May 2025. This facility is only available for the Platinum shares you will receive in respect of Anglo American shares you hold in the SIP trust. The form must be signed by you with either a wet ink signature or via DocuSign before being emailed to Equiniti.
You must have your own brokerage account which is able to receive the Platinum shares before you can make a pre-election.
If you wish to keep only some of your Platinum shares, you will firstly need to make an election to keep all of them by completing the Form of Instruction. Once the shares have been transferred to your personal brokerage account, you will be able to sell some or all of them.
When you do come to sell them, you may need to pay tax on any increase in value since you received them on 2 June 2025. This is the difference between the sale price (their value when you sell them) and the cost basis (their value when you received them). You can find this information on the ESP Portal.
The election to keep your Platinum shares is irrevocable, meaning you are not able to change your mind once you have submitted your request to Equiniti.
Once the Platinum shares have been received into your personal brokerage account, you will be able to sell them.
To maintain broad comparability of our share price before and after the demerger (as far as is reasonably possible), we will consolidate the Anglo American shares. This means reducing the total number of Anglo American shares, with the intention that the Anglo American share price after the demerger remains broadly comparable with our share price beforehand.
All Anglo American shareholders will see a reduction in the number of shares they own, but the total value of a shareholding will remain broadly comparable.
The consolidation of shares will be determined, approved and become effective on 2 June 2025 once the market closes.
Yes, the number of Anglo American shares you own will reduce, to maintain broad comparability between the share price before and after the demerger.
The consolidation may result in you receiving a fraction of an Anglo American share. If this happens, it will be automatically sold for you on or as soon as possible after 2 June 2025, and the proceeds paid to you via payroll.
The sale of any fractions of an Anglo American share that you receive in the SIP trust may be a taxable event, depending on how long you have held your shares in the SIP.
| Tax due | Payment | Action | |
|---|---|---|---|
|
5 years +
3 years +
|
No tax due | The proceeds will be paid to you via payroll. | No action required. |
|
Up to 5 years
Up to 3 years
|
|
Tax will be paid on your behalf by Anglo American. The proceeds (minus tax) will be paid to you via payroll. |
No action required. |
If you have held the Anglo American share to which the fraction relates in the SIP trust for less than 5 years (or 3 years in the case of dividend shares), income tax and National Insurance will be due on the sale of the fraction – this will be calculated for you and withheld by your employing Anglo American entity, and you will receive the sale proceeds, less any tax due, via payroll (and you therefore do not need to take any action).
If you have held the Anglo American share to which the fraction relates in the SIP trust for longer than 5 years (or 3 years in the case of dividend shares), there will be no tax due on the sale of the fraction, and you will receive the sale proceeds via payroll, without deduction.
Other than the fractional share element mentioned in 6.4, you should not need to pay tax on the consolidation of Anglo American shares. However, you should continue to review the information in your country tax notes in the Resources section.
The base cost is the original amount you paid for your Anglo American shares, including any fees or commission. This is used to calculate Capital Gains Tax (GGT) when you sell your shares.
The base cost of your Anglo American shares will remain the same and will not change as a result of the demerger.
The consolidation will happen automatically, so you don't need to do anything.
If the consolidation results in you owning part of an Anglo American share, this will be sold automatically as set out in 6.4.
The sale of the fractional share may be a taxable event. See 6.4 for further information.
Resources
Useful links
Access your share account
You can manage your SIP shares through your share account on your ESP Portal.
This is where you go to:
- View your SIP shares
- Review the plan summary and plan rules
- Update your personal details
Make sure you have your Shareview User ID and Password.
You can find these in your SIP invitation and other correspondence.
Support
Contact us
If you have any questions about the Platinum demerger and how it affects your share plan, that haven't been answered above, please contact:
Contact Equiniti
For questions about accessing your share account,
please contact Equiniti:
0371 384 2408
Please be aware that we are not able to provide any legal, financial or tax advice nor advice on your personal circumstances.
Disclaimer
- The information included on this website does not constitute tax, financial, legal or investment advice and is not intended to be a comprehensive description of all of the legal, financial, tax or other considerations that may be relevant to the proposed demerger and/or share consolidation.
- If you are in any doubt about any matters, including but not limited to financial, taxation and legal matters, referred to on this website or their application to your own specific circumstances, you are recommended to seek your own independent financial, tax and legal advice from an appropriately authorised independent professional advisor.
- No member of the Anglo American group or any of their officers, employees, nominees, agents or representatives is giving you financial, legal, investment, tax or other advice in relation to the Anglo American share plans or the impact of the demerger and/or share consolidation on your awards and/or shares.
- Any Anglo American shareholder is recommended to review the Anglo American shareholder circular which sets out information addressed to all Anglo American shareholders including those who hold or have a beneficial interest in Anglo American shares through the Anglo American share plans.
- Please refer to the Platinum prospectus for information relating to Platinum and the Platinum shares.
- To the extent there is a conflict between any information on this website and the Anglo American circular, the Anglo American circular shall take precedence over this website.
- The value of Anglo American and Platinum shares can go down as well as up and nothing on this website is intended as advice or predictions on any share price movement. It is important to note that the share prices of each of Anglo American and Platinum could be higher or lower than prior to the distribution and consolidation.
- No member of the Anglo American group or any of their officers, employees, nominees, agents or representatives accepts any liability for any loss arising from reliance on any information contained on this website.
- Any references to third-party sources or links are provided for convenience only and do not constitute endorsement or verification of the content.
- Any tax information included on this website is intended only as a general guide to current tax law and published tax authority practice, as applied in the jurisdiction referred to in the tax information as at 8 April 2025, both of which are subject to change at any time, possibly with retrospective effect.
- Any tax information included on this website applies only to Anglo American employees holding Anglo American shares who are tax resident and domiciled and working solely in the jurisdiction in respect of which any tax information is provided through-out both the entire vesting or equivalent period of any Anglo American share award and during the entire tax period in which the demerger occurs.
- It is the responsibility of each employee to ensure compliance with applicable tax regulations based on their personal circumstances.