Anglo American PLC Anglo American Platinum commits to venture capital (8064U)
July 17 2018 - 2:00AM
UK Regulatory
TIDMAAL
RNS Number : 8064U
Anglo American PLC
17 July 2018
17 July 2018
Anglo American Platinum commits to venture capital funds
focused on increasing demand for PGMs
Anglo American plc's 78% owned subsidiary, Anglo American
Platinum Limited ("Anglo American Platinum"), announced today that
its subsidiary, Anglo Platinum Marketing Limited ("APML"), has
subscribed for interests in two UK based venture capital funds (the
"Funds"), with a total aggregate commitment of $100 million. Anglo
American Platinum's commitment to the Funds is matched by a $100
million commitment from South Africa's Government Employees Pension
Fund represented by the Public Investment Corporation SOC Ltd (the
"PIC").
The Funds will be managed through an independent fund management
business, AP Ventures LLP, led by two experienced former APML
executives. The Funds have been established to invest globally in
companies which support the development of innovative and
competitive technological uses of platinum group metals
("PGMs").
The first Fund will hold certain of APML's existing investments
which have been made under APML's PGM investment programme. The
second Fund will be established to make new investments.
Anglo American Platinum issued an announcement this morning to
the Johannesburg Stock Exchange which is available on the Anglo
American Platinum website via link.
This transaction is a smaller related party transaction under UK
Listing Authority ("UKLA") Listing Rule 11, as the PIC is a
substantial shareholder in Anglo American plc. The transaction is
therefore subject to the requirements of UKLA Listing Rule
11.1.10R.
For further information, please contact:
Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
james.wyatt-tilby@angloamerican.com paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718
Marcelo Esquivel Robert Greenberg
marcelo.esquivel@angloamerican.com robert.greenberg@angloamerican.com
Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 2124
South Africa Sheena Jethwa
Pranill Ramchander sheena.jethwa@angloamerican.com
pranill.ramchander@angloamerican.com Tel: +44 (0)20 7968 8680
Tel: +27 (0)11 638 2592
Ann Farndell
ann.farndell@angloamerican.com
Tel: +27 (0)11 638 2786
Notes to editors:
Anglo American is a global diversified mining business and our
products are the essential ingredients in almost every aspect of
modern life. Our portfolio of world-class competitive mining
operations and undeveloped resources provides the metals and
minerals to meet the growing consumer-driven demands of the world's
developed and maturing economies. With our people at the heart of
our business, we use innovative practices and the latest
technologies to discover new resources and mine, process, move and
market our products to our customers around the world.
As a responsible miner - of diamonds (through De Beers), copper,
platinum and other precious metals, iron ore, coal and nickel - we
are the custodians of what are precious natural resources. We work
together with our key partners and stakeholders to unlock the
sustainable value that those resources represent for our
shareholders, the communities and countries in which we operate and
for society at large. Anglo American is re-imagining mining to
improve people's lives.
www.angloamerican.com
Legal Entity Identifier: 549300S9XF92D1X8ME43
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCGGUWPMUPRGMQ
(END) Dow Jones Newswires
July 17, 2018 03:00 ET (07:00 GMT)
Anglo American (LSE:AAL)
Historical Stock Chart
From Apr 2024 to May 2024
Anglo American (LSE:AAL)
Historical Stock Chart
From May 2023 to May 2024