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 your Anglo American Bonus Share Plan ("BSP") awards. On this page, we provide a summary of what happens to your unvested BSP awards which are in the form of "forfeitable share awards". A "forfeitable share award" means that you are the holder (through Anglo American's employee trust) of the Anglo American shares, with those shares being held subject to the rules of the BSP.
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 should be broadly comparable to the value of your Anglo American shares before the distribution and consolidation. However, external market factors may impact share prices, which can go down as well as up.
What this means for your shares
As a BSP participant with forfeitable share award(s), your shares 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.
You will be able to sell the Platinum shares at any time after the demerger.
For colleagues with BSP forfeitable awards, we are also providing you with the opportunity to pre-elect to sell the Platinum shares you receive on the demerger in relation to your BSP award(s). This means arranging, in advance, to sell your Platinum shares on or soon after 2 June.
For the BSP forfeitable awards, you can do this through ShareForce. Please see below for further details.
You may need to pay tax on the value of your Receivable, depending on your individual circumstances – including where you pay tax. For tax purposes you may also need to know the value of the Receivable.
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.
ShareForce will also provide you with a statement detailing the distribution of the Valterra shares, you will need this statement to complete your tax return.
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, it will be automatically sold for you on or as soon as possible after 2 June 2025. The proceeds will be added to the next payment you receive from ShareForce.
Please make sure that your bank account details on ShareForce are up to date at the date of the demerger.
Consolidation
The number of Anglo American forfeitable shares you own will automatically reduce, with the intention of maintaining broad comparability in our share price before and after the demerger.
The demerger will not affect the operation of your BSP award, which will continue on its existing terms over the consolidated Anglo American forfeitable shares. There will therefore also be no difference to the vesting schedule of your BSP award.
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 sold for you on or as soon as possible after 2 June 2025. The proceeds will be paid to you via payroll. The payment will be subject to deductions for tax in the same way as would apply to the vesting of Anglo American forfeitable shares. These deductions will be applied automatically through payroll.
What you need to do
Decide if you want to sell your Platinum shares.
You can pre-elect to sell the Platinum shares you receive on the demerger in relation to your BSP awards. You will be able to make a pre-election through ShareForce from 1 May to 23 May. The Platinum shares will then be sold on or as soon as possible after 2 June.
Use of the Sale Facility is subject to terms and conditions, which will be available on ShareForce from 30 April. Further detail on the Sale Facility is set out below.
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.
Read the information in relation to tax on this page and in the country tax notes (see Resources).
Refer to the Anglo American shareholder circular (see Resources) if you need any further information on the demerger and its impact on your shares, or if you hold Anglo American shares in any personal share dealing accounts.
How the sale facility for BSP forfeitable shares will work
We have put in place a sale facility which allows you to pre-elect to sell the Platinum shares you receive on the demerger in relation to your BSP awards. You can do this through ShareForce from 1 May to 23 May, and then the Platinum shares will 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 as a result of the Anglo American forfeitable shares you hold under your BSP award.
Making an election
You can access the sale facility here from 1 May 2025. The election window will close on 23 May 2025.
Any election will be to sell ALL of the Platinum shares you receive in respect of your Anglo American forfeitable shares as at the demerger record date.
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 and 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 your BSP award. If you want to sell only some of the Platinum shares received in relation to your BSP award, you will have to log into ShareForce after the demerger.
- Terms and conditions. The Sale Facility T&Cs will be available on ShareForce 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 ShareForce. You can then choose to sell those shares as normal at a later date. Any fraction of a Platinum share you receive will be automatically sold in the same way as shares that were pre-elected for sale.
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 ShareForce as Valterra Platinum shares. This will have no other impact on the shares.
Separate sale facilities may be available for Platinum shares you receive pursuant to 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 in ShareForce to sell the Platinum shares as soon as they become available.
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 ShareForce 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 ShareForce as soon as possible after the demerger.
Change of name
Subject to shareholder approval, from completion of the demerger Anglo American Platinum will be renamed "Valterra Platinum Limited".
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 5 years. Three years ago, Matt got a promotion. Since then, he's received a BSP forfeitable award every year, until 2025 when he received a conditional award.
To understand the impact of the demerger on his BSP 2025 award, Matt reads the BSP 2025 page of this website.
Matt currently holds 2,655 forfeitable shares as part of his awards.
During the Platinum demerger, Anglo American shareholders will receive a Receivable equal to 1 Platinum share* for every 10 Anglo American forfeitable 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 forfeitable shares are worth £62,658.
- 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 worth £6,903, which is satisfied with 265.5 Platinum shares.
He may have to pay tax on the value of the Receivable.
The 0.5 of a Platinum share is automatically sold on or shortly after 2 June. Matt receives £13 from this sale.
Here's what the consolidation will look like for Matt
Matt's Anglo American forfeitable 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 2,336.4 Anglo American shares.
The 0.4 of an Anglo American share is automatically sold on or shortly after 2 June. Matt receives £9.44 from this sale.
After the sale of the fraction, Matt owns 2,336 Anglo American forfeitable shares. These continue to be subject to his BSP forfeitable share awards as normal.
In this illustration, the total value of Matt's shares has been broadly maintained
| Value of Anglo American shares before the demerger | £62,658 |
| Value of Platinum shares after the demerger | 265 shares worth £6,903 0.5 shares sold for £13 Total: £6,916.00 |
| Value of Anglo American shares after the demerger | 2,336 shares worth approximately £55,129.60 0.4 shares sold for £9.44 Total: £55,139.04 |
| Total value of Platinum and Anglo American shares after the demerger | £62,055.04 |
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 and 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 unvested BSP awards which are in the form of "forfeitable share awards".
Subject to shareholder approval at the AGM on 30 April, the demerger is expected to take place on 30 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. As a BSP participant with forfeitable share awards, your shares will be impacted by the demerger. As a shareholder in Anglo American, you will receive something called a "Receivable", which 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.
The distribution and consolidation will have no impact on your deferred cash award.
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 shares sold.
If you leave on or before 30 May 2025 and have vested shares from your BSP award(s) in your Standard Bank unmanaged account, these are yours to keep or sell as you wish. If you still own them on 30 May 2025, they will be treated the same as all our other shares. This means you will receive a distribution of Platinum shares and see your Anglo American shares consolidated.
If you leave and hold unvested forfeitable shares under your BSP award(s), the treatment of your shares will depend on the circumstances and timing of your departure.
| Reason for leaving | Impact on your unvested shares |
|---|---|
| Retirement Redundancy Death in service TUPE transfer |
Your BSP forfeitable shares will vest in full on the date you leave (subject to any conditions that may apply). If you still own the BSP forfeitable shares on 30 May 2025, they will participate in the demerger and you will receive the distribution of Platinum shares and your Anglo American shares will be consolidated. |
| Resignation Dismissal |
Your unvested BSP forfeitable shares will be forfeited. If they are forfeited before the demerger record time (6pm on 30 May), they will not participate in the demerger. |
The demerger will happen automatically.
You may choose to pre-elect to sell the Platinum shares you receive in respect of your unvested BSP forfeitable shares as soon as possible after the demerger. You'll need to submit a pre-election via ShareForce 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, they will be transferred to your Standard Bank unmanaged account and you may 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 your Standard Bank unmanaged account.
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 1075 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. Fractions of Platinum shares will be sold automatically and proceeds credited to your Standard Bank unmanaged account. Fractions of Anglo American shares will be automatically sold, and you will receive the proceeds via payroll in your July 2025 salary.
Provided that you have not made an irrevocable election to sell your Platinum share during the pre-election window of 1 May to 23 May, your Platinum shares will be transferred to your Standard Bank unmanaged 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 the Platinum shares you receive in respect of your unvested BSP forfeitable shares as soon as possible after the demerger. You'll need to submit a pre-election via ShareForce 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, they will be transferred to your Standard Bank unmanaged account and you may 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 your Standard Bank unmanaged account.
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 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.
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.
You can use the sale facility in ShareForce to sell the Platinum shares you will receive in respect of your unvested BSP forfeitable shares.
Separate sale facilities will be available in respect of Platinum shares that you may hold under any of the Anglo American employee share plans. 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). Information on the sale facilities for the Anglo American share plans will be available on the share plan pages of the Microsite which will go live on 30 April 2025.
You can log into your ShareForce portal 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 unvested Anglo American forfeitable shares you hold under your BSP award.
Elections can be made on the ShareForce portal between 1 May 2025 and 23 May 2025, if you are subject to any share dealing 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 ShareForce to sell Platinum shares you receive in respect of your unvested BSP forfeitable shares, this will apply to all these Platinum shares.
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 Standard Bank unmanaged 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 via ShareForce, 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.
Standard Bank, will sell shares over the course of several days to ensure that you receive the best price for your shares. 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. Standard Bank will make the sales, pursuant to the election to make via ShareForce. 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 the ShareForce portal from 1 May.
Any Platinum shares sold by Standard Bank pursuant to the ShareForce election 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 made by Standard Bank pursuant to the ShareForce election will go ahead at whatever the market price for Platinum shares is at the time of the sale.
If you make an election to sell your Platinum shares it is important that you understand there is no certainty as to what sale price you will receive for them. 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.
Standard Bank will credit the proceeds received in respect of the sale of your Platinum shares by bank transfer into your Standard Bank unmanaged account. The payment, less any applicable deductions, will be credited to your Standard Bank unmanaged account after all sales have been completed, the date of which will depend on when the sales are able to take place.
Any fraction of a Platinum share to which you are entitled to receive will be sold automatically and proceeds credited to your Standard Bank unmanaged account.
If you do not use the sale facility, then any whole Platinum shares you receive in relation to your unvested BSP forfeitable award(s) will be transferred to your Standard Bank unmanaged account. After the demerger, you will be able to see those Platinum shares in your Standard Bank unmanaged account, and may sell those shares as normal (subject to the normal terms and Anglo American's share dealing policies).
Any fraction of a Platinum share to which you are entitled to receive will be sold automatically and proceeds credited to your Standard Bank unmanaged account.
You may continue to sell your Anglo American shares as normal, subject to Anglo American's existing share dealing policies. Please note that you cannot elect to sell any Anglo American shares 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 sold for you on or as soon as possible after 2 June 2025, and the proceeds paid to you via payroll. The payment will be subject to deductions for tax in the same way as would apply to the vesting of your BSP forfeitable shares. These deductions will be applied automatically through payroll.
You may need to pay tax on this fractional share. There's more information in your country tax notes in the Resources section, noting that the country tax notes are subject to a further update on 30 April.
Other than the fractional share element mentioned in 4.5, 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.
If the consolidation results in you owning part of an Anglo American share, this will be sold automatically. The funds will be paid to you directly by your broker.
You may need to pay tax on this fractional share. There's more information in your country tax notes in the Resources section.
Resources
Useful links
Access your share account
You can view your BSP forfeitable award on ShareForce.
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 Username (email) and Password.
You can find these in your award 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 ShareForce
For questions about accessing ShareForce,
please contact:
+27 10 143 4430
If you own Anglo American shares in your Standard Bank brokerage account, see how your shares are impacted on the Employee Shareholder page. You can view your shareholdings by logging on to your Standard Bank account.
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.