British multinational mining company Anglo American has completed the demerger of c.51% of its interest in Valterra Platinum Limited, formerly known as Anglo American Platinum Limited, and the associated share consolidation of Anglo American. 

The demerger took effect on Saturday 31 May with the share consolidation becoming effective on Sunday 1 June.

The admission of Anglo American’s new ordinary shares to the equity shares listing segment of the official list of the Financial Conduct Authority and to trading on the London Stock Exchange’s main market for listed securities took place on 2 June, along with the listing and commencement of dealings in entitlements to Anglo American’s new ordinary shares on the Johannesburg Stock Exchange (JSE).  

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The shares of Valterra Platinum were also admitted on 2 June to the equity shares listing segment of the official list of the Financial Conduct Authority and to trading on the London Stock Exchange’s main market for listed securities, under the ticker symbol ‘VALT’. This listing will be alongside Valterra Platinum’s existing primary listing on the JSE with the share code ‘VAL’ and ISIN ZAE000013181.

Duncan Wanblad, chief executive of Anglo American said: “This is an important moment for both Anglo American and Valterra Platinum. For Anglo American, this is a major step in our plan to unlock the inherent value in our portfolio as a whole, with enhanced focus on our world-class positions in copper, premium iron ore and crop nutrients. Valterra Platinum has been a major part of the company for many years but now is the right time for it to optimise its value creation prospects on an independent path – it’s an outstanding business and team and I have every confidence that Valterra Platinum will thrive as a leader in the global platinum group metals industry.”