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! or by speaking to your MyShare Champion.
The demerger of the Anglo American Platinum business may impact the shares you hold under the Anglo American MyShare plan ("MyShare"). On this page, we provide a summary of what happens to your shares under MyShare.
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 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 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 distribution and the consolidation. However, external market factors may impact share prices, which can go down as well as up.
What this means for your shares
Different shares within MyShare will be affected differently by the demerger.
| MyShare 2022 | MyShare 2023 | MyShare 2024 | |
|---|---|---|---|
| Purchased Shares | Impacted | Impacted | Impacted |
| Free Shares | Impacted | Unimpacted | Unimpacted |
| Matching Shares | Impacted | Unimpacted | Unimpacted |
| Dividend shares | Impacted | Impacted | Impacted |
You can see what this means for you by clicking on the 'Impacted' and 'Unimpacted' tabs.
If you choose to join MyShare 2025, none of the MyShare 2025 shares will be affected by the demerger.
Impacted shares are any Anglo American shares, held under MyShare, that you already own outright:
- Purchased Shares: shares you have already purchased from your salary and therefore belong to you.
- Unlocked Matching and Unlocked Free Shares: if you joined MyShare in 2022, you received Matching and / or Free Shares which have since unlocked and therefore belong to you.
- Dividend Shares: if you have Purchased and / or Unlocked shares, you are entitled to a portion of Anglo American's profits whenever we distribute it to our shareholders. This is called a Dividend, and is used to buy you more Anglo American shares – known as Dividend Shares. These immediately belong to you.
Distribution
As part of this demerger, you will receive something called a "Receivable" in respect of your impacted shares. This will then be immediately satisfied by 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.
You will be able to sell your Platinum shares at any time after the demerger. For colleagues in MyShare, we are also providing you with the opportunity to arrange in advance to sell your Platinum shares on or soon after 2 June 2025. This is known as a pre-election – see below for further details.
You may need to pay tax on the value of your Receivable and/or your new Platinum shares, depending on your individual circumstances – including where you pay tax. We will update this page with details on the value of the Receivable as soon as possible after 2 June as you may need this information as part of your tax reporting.
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.
Computershare 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 PEN on the FX rate from the 31 May: the FX rate between ZAR and PEN set out on www.xe.com was 4.966 ZAR : 1 PEN.
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).
If you receive a fraction of a Platinum share
The value of your Receivable might not turn into a whole number of Platinum shares, resulting in you receiving a fraction of a Platinum share. If this happens, if you make a pre-election to sell your Platinum shares (see below) it will be automatically sold for you on or as soon as possible after 2 June 2025. The proceeds will be paid to you by Computershare. If you do not make a pre-election to sell your Platinum shares, they will be added to your MyShare account.
Consolidation
The number of impacted shares you own will automatically reduce, with the intention of maintaining broad comparability in our share price before and after the demerger.
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, it will be automatically added to your MyShare account.
Unimpacted shares are any MyShare shares that you hold but that have not yet unlocked. These are also known as conditional awards, and include:
- Locked Free Shares: Free Share awards that you accepted from MyShare in 2023 and / or 2024, but have not yet unlocked.
- Locked Matching Shares: Matching Shares you received in respect of any Purchased Shares you bought as part of MyShare 2023 and / or 2024, which have not yet unlocked.
These shares are not impacted by the demerger, and you do not need to take any action.
Distribution
You won't receive any Platinum shares in respect of your unimpacted shares, as you are not a shareholder in respect of these shares.
Consolidation
The number of unimpacted shares you own will remain unchanged. The intention is that, because of the consolidation, the total value of your unimpacted shares after the demerger should be broadly comparable to the value before (subject to share price movements).
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 sell the Platinum shares you receive in relation to your impacted MyShare shares. You can do this through EquatePlus from 1 May to 23 May, and your Platinum shares will be sold on or as soon as possible after 2 June.
Use of the Sale Facility is subject to terms and conditions. These are available on EquatePlus. See the Pre-election section for further detail on the Sale Facility.
If you do not wish to sell your Platinum shares right away, you can keep them and sell them at any time in the future.
Don't neglect your tax!
Read through your country tax notes to understand what the requirements are in your country (see Resources).
Please note: from 4.30pm (UK time) on 23 May until 12pm (UK time) on 2 June, your EquatePlus account will be locked. During that time, you will not be able to trade Anglo American shares held in your account.
How to make a pre-election
You can arrange to sell your Platinum shares (known as a pre-election) on or as soon as possible after 2 June using the Sale Facility. The Sale Facility is available on EquatePlus from 1 May to 23 May 2025.
You can only use this Sale Facility for the Platinum shares you receive in respect of your impacted MyShare shares.
Making an election
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, minus any applicable deductions, by bank transfer. This will happen once the Sale Facility has completed all sales. As a guide, payment would normally be expected within 10 business days from the end of the sales.
Any fraction of a Platinum share you receive will be sold alongside the rest of your Platinum shares.
If you pre-elect to sell your Platinum shares, here are some things to consider:
- Share dealing. If you are subject to any share dealing restrictions on Platinum shares, these restrictions will also apply to your pre-election. You must comply with all Platinum share dealing policies when making your election.
- Complete sale. You can only pre-elect to sell ALL your Platinum shares received in relation to MyShare. If you want to sell only some of your Platinum shares, log into EquatePlus after the demerger.
- Owned shares. If you receive Platinum shares in relation to any other Anglo American shares you own outright in the Employee Corporate Nominee, you can make a separate pre-election in relation to those shares.
- Terms and conditions. The Sale Facility T&Cs will be available on EquatePlus from 1 May.
- Final decision. Pre-elections are irrevocable, which means you will not be able to change your mind and stop the sale.
Keeping your shares
If want to keep your Platinum shares, then you'll be able to see these by logging on to EquatePlus. You can then choose when to sell those shares as normal at a later date.
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 EquatePlus as Valterra Platinum shares. This will have no other impact on the shares.
Separate sale facilities may be available for Platinum shares you receive from other share plans. You will need to take separate action if you want to use those sale facilities – see the relevant share plan page(s).
Timeline
Elect
Decide if you want to sell your Platinum shares as soon as they become available. You can submit a pre-election on EquatePlus.
Lock
Your EquatePlus account will be locked from 4.30pm (UK time) on 23 May until 12pm (UK time) on 2 June. This means you will not be able to trade the shares you hold in your account during this time.
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 EquatePlus as soon as possible after the consolidation.
Sale
If you have pre-elected to sell your Platinum shares, they will be sold on your behalf on or following 2 June. Sale proceeds will be paid directly into your bank account. Please ensure your bank details are up to date.
Receive
If you choose to keep your Platinum shares, they will become visible in EquatePlus 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.
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 3 years, and has participated in MyShare 2023 and 2024. He currently holds 229 shares in his MyShare account: 80 Free Shares, 72 Purchase Shares, 72 Matching Shares and 5 Dividend Shares. His Free Shares and Matching Shares are locked.
This means Matt has 77 impacted shares and 152 unimpacted shares.
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 £5,404.40
- 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 7.7 Platinum shares | 77 Anglo American shares ÷ 10 shares for each Platinum share |
| Matt's Receivable is worth £200.20 | 7.7 Platinum shares x £26 |
Matt may have to pay tax on the value of the Receivable. He refers to the Resources section of the microsite to understand his tax liability.
Matt doesn't receive a Receivable in respect of his unimpacted shares.
Here's what the consolidation will look like for Matt
Matt's impacted shares are consolidated with the intention of maintaining broad comparability of the share price compared to before the demerger.
Matt's unimpacted shares are not consolidated and the total value of his unimpacted shares after the demerger should be broadly comparable to the value before (subject to share price movements).
This results in Matt holding:
- 80 Free Shares (no change)
- 64 Purchased Shares (reduced from 72)
- 72 Matching Shares (no change)
- 4.4 Dividend Shares (reduced from 5)
Total: 220.4 Shares
In this illustration, the total value of Matt's shares has been broadly maintained
| Value of Anglo American shares before the demerger | |
| £5,404.40 | 229 shares x £23.60 |
| Value of Matt's Platinum shares after the demerger | |
| 7.7 shares worth £200.20 | 7.7 shares x £26 |
| Value of Matt's Anglo American shares after the demerger | |
| 80 Locked Free Shares worth approximately £1,888 | 80 shares x £23.60 |
| 64 Purchased Shares worth approximately £1,510.40 | 64 shares x £23.60 |
| 72 Locked Matching Shares worth approximately £1,699.20 | 72 shares x £23.60 |
| 4.4 Dividend Shares worth approximately £103.84 | 4.4 shares x £23.60 |
| Total value of Matt's Anglo American shares: £5,201.44 | £1,888 + £1,510.40 + £1,699.20 + £103.84 |
| Total value of Matt's Platinum and Anglo American shares after the demerger | |
| Matt's total holding: £5,401.64 | £200.20 + £5,201.44 |
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 MyShare plan ("MyShare").
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 after the markets close 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, however, this will depend on the type of shares you hold. Different shares within MyShare will be affected differently by the demerger:
The following type of shares will be impacted by the demerger:
- Purchased Shares: shares that you have already purchased from your salary and belong to you.
- Unlocked Matching Shares: If you joined MyShare in 2022, your Matching Shares have since unlocked and belong to you.
- Unlocked Free Shares: If you received Free Shares in 2022, they have since unlocked and belong to you.
- Dividend Shares: any additional shares you have received in respect of dividend equivalent rights attaching to Purchased and/or Unlocked Shares under the MyShare plan. Where dividend equivalent rights attach to your shares, dividends may be used to buy more shares on your behalf – known as Dividend Shares. These immediately belong to you.
If you hold any locked Free Shares and / or locked Matching Shares from 2023 & 2024 these will not be impacted by the demerger and no action is required. If you choose to join MyShare 2025, none of the MyShare 2025 shares will be affected by the demerger.
| MyShare 2022 | MyShare 2023 | MyShare 2024 | |
|---|---|---|---|
| Purchased shares | Impacted | Impacted | Impacted |
| Free Shares | Impacted | Unimpacted | Unimpacted |
| Matching shares | Impacted | Unimpacted | Unimpacted |
| Dividend shares | Impacted | Impacted | Impacted |
As part of the demerger, if you own any impacted shares as an Anglo American shareholder in MyShare, you 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 impacted Anglo American shares you hold in MyShare will automatically reduce. This is intended to maintain broad comparability between the share price before and after the demerger.
If you hold any locked Free Shares and / or locked Matching Shares from 2023 & 2024 these will not be impacted by the demerger and no action is required.
If you received Free Shares in 2022, your shares will be impacted by the demerger.
As part of the demerger, if you own any unlocked Free Shares as an Anglo American shareholder in MyShare, you 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.
These Platinum shares will sit alongside your existing Anglo American 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.
If you hold any locked Free Shares from 2023 & 2024 these will not be impacted by the demerger and no action is required.
If you choose to join MyShare 2025, none of the MyShare 2025 shares will be affected by the Platinum 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 the 30 May 2025, you will not be entitled to receive Platinum shares in relation to those Anglo American 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 plan.
| Reason for leaving | Impact on your unvested shares |
|---|---|
| Retirement Redundancy Death in service TUPE transfer |
You can withdraw all your Purchased Shares, Dividend Shares and unlocked Matching Shares and Free Shares. You can choose to sell or keep these Anglo American shares. Your locked Matching and / or Free Shares will unlock and the Anglo American shares will become available for you to keep or sell (subject to any conditions that may apply). If you still own the MyShare 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 |
You can withdraw all your Purchased Shares, Dividend Shares and Unlocked Matching Shares and Free Shares. You can choose to sell or keep these Anglo American shares. If you still own the Purchased, Dividend, Unlocked Matching and/or Unlocked Free 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. You will not be entitled to receive your locked Matching and / or Free Shares. |
The demerger will happen automatically.
You may choose to pre-elect to sell your Platinum shares as soon as possible after the demerger. You'll need to submit a pre-election via EquatePlus between 1 May and 23 May 2025. Please note that the election to sell your Platinum shares in this way is irrevocable.
If you decide not to sell your Platinum shares immediately, you can keep them and sell them at any time in the future. 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 EquatePlus.
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.
If you choose to elect to sell your Platinum shares immediately, fractional Platinum shares will be automatically included in the sale – all your Platinum shares will be sold and the proceeds will be paid to you by Computershare.
If you keep your Platinum shares, any fractional share will be added to your MyShare account in EquatePlus.
You may need to pay tax on the Platinum shares, including any fraction you receive. You can find out more by viewing your country's tax notes in the Resources section.
Provided that you have not made an irrevocable election to sell your Platinum shares during the pre-election window of 1 May to 23 May, your Platinum shares will be added to your EquatePlus 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 can choose to sell your Platinum shares as soon as possible after the demerger. You'll need to submit a pre-election via EquatePlus between 1 May and 23 May 2025. Please note that the election to sell your Platinum shares in this way is irrevocable.
If you decide not to sell your Platinum shares immediately, you can keep them and sell them at any time in the future. 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 EquatePlus.
Please see your country tax notes in the Resources section for more details.
Any Platinum shares you receive will be treated as dividends or income for tax purposes. Depending on your location, you may need to pay dividend or income 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.
If you make an election on EquatePlus to sell your Platinum shares, they 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 Terms and Conditions document. You can find these on EquatePlus from 1 May.
Your 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 EquatePlus.
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. As a guide, payment would normally be expected to be able to be made within 10 business days of the sales completing.
You can use the sale facility in EquatePlus to sell Platinum shares you will receive in relation to your impacted MyShare shares.
Separate sale facilities will be available in respect of Platinum shares that you may hold under any other Anglo American employee share plan(s). You will need to carefully read the information in respect of those sale facilities and may need to take separate action if you want to use them and/or to opt-out of them (as applicable).
You can log into your EquatePlus account from 1 May to 23 May and make a pre-election to sell the Platinum shares. The Platinum shares will then be sold on or as soon as possible after 2 June.
You can only use this sale facility to sell the Platinum shares you receive in respect of your impacted MyShare shares.
Elections can be made on EquatePlus between 1 May 2025 and 23 May 2025, if you are subject to any share dealing restrictions on Platinum shares, these restrictions will also apply to your pre-election.
The share plan administrator portal will not allow elections to be made after 23 May 2025.
If you pre-elect on EquatePlus to sell Platinum shares you receive in respect of your impacted MyShare shares, this will apply to all the Platinum shares you receive.
If you wish to sell only some of your Platinum shares, you should not make an election to sell and, instead, may log into your EquatePlus account after the demerger from where you will be able to sell your Platinum shares.
The election to sell your Platinum shares is irrevocable, meaning you are not able to change your mind once you have elected to sell your Platinum shares.
If you pre-elect to sell your shares in EquatePlus, there may be a small difference in the market value at the time of sale and the base cost of when you received the shares.
Computershare, who provide the EquatePlus platform will sell shares over the course of several days. If the value of the shares has increased above the base cost price, then this may mean you become be liable to a capital gains tax charge.
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.
Sales in respect of any election that you give will take place 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 Terms and Conditions document which will be available on your EquatePlus account 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 (which could be either on 2 June 2025, or on a later date, depending on when the sale is made). There will be no minimum or maximum price, and sales under the sale facility with EquatePlus 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 sold. Additionally, as elections will be irrevocable once they are made, you will not be able to change your mind or stop the sale if the share price falls below a level at which you may otherwise have wanted to sell your Platinum shares.
You will receive the proceeds in respect of the sale of your Platinum shares by bank transfer into the bank account details which you will need to confirm in your EquatePlus account when you elect to sell the shares. 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. As a guide, payment would normally be expected to be able to be made within 10 business days of the sales completing.
If you receive a fraction of a Platinum share in your EquatePlus account then, if you elect to use the sale facility, that fraction will be sold along with the rest of the Platinum shares. If you do not elect to sell your Platinum shares via EquatePlus, then any fractions of Platinum shares will be retained in your EquatePlus account.
If you do not use the sale facility, then any Platinum shares you receive in relation to your impacted MyShare shares, including fractional Platinum shares, will be retained in your EquatePlus account. After the demerger, you will be able to see those Platinum shares in your EquatePlus account, and may sell those shares as normal (subject to the normal terms and Anglo American's existing share dealing policies).
You may continue to sell unlocked Anglo American shares you hold in MyShare normal, subject to Anglo American's existing share dealing policies and any local restrictions. Please note that you cannot elect to sell any Anglo American shares you hold under the sale facility for Platinum shares.
If you sell or transfer Anglo American shares after making a sale facility election, then the election will cease to be valid in respect of any Platinum shares you receive on those 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, 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 added to your MyShare account.
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 consolidation will happen automatically, so you don't need to do anything.
Access your share account
You can view your MyShare plan on EquatePlus.
This is where you can:
- View your shares
- Choose to make a pre-election to sell your Platinum shares
- Maintain your contact details including your bank account details
Make sure you have your User ID and Password.
You can find these in your invitation email.
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 Computershare
For questions about accessing EquatePlus,
please contact Computershare:
International:
+41 (0) 844 00 44 55
If you are participating in any other Anglo American share plan, find out more about the impact of the demerger on the relevant plan page(s). If you own any other Anglo American shares, see how your shares are impacted on the Employee Shareholder page.
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.