AngloGold Ashanti has requested and received formal approval from the Australian Securities Exchange to be removed from the official list of the ASX.
AngloGold expects the delisting to occur on 27 June 2023, with the company’s CHESS Depositary Interests (CDIs) expected to be suspended and cease to trade on the ASX at the close of trade on 23 June 2023.
Following the delisting from the ASX, the company’s ordinary shares will continue to be traded the following locations:
- The Johannesburg Stock Exchange (JSE) and A2X under the trading symbol ‘ANG’ in South Africa
- The New York Stock Exchange (NYSE) through American Depositary Shares (ADSs), under the trading symbol ‘AU’ in the US
- The Ghana Stock Exchange (GhSE) under the trading symbol ‘AGA’ (shares) and ‘AAD’ (depositary shares) in Ghana
AngloGold’s reasons for delisting from the ASX are due to ongoing low trading frequency and low volumes of its securities traded on the ASX compared to that of the JSE and NYSE, in particular. These come in addition to the company’s proposed corporate restructuring and re-domicile.
As of 5 May 2023, the shares represented by the CDIs held on the Australian register have declined to approximately 4.1 per cent of the company’s total issued share capital, and represent less than 0.1 per cent of the year-to-date average daily trading value of the company’s equity securities across all exchanges.
AngloGold has said that the administrative and compliance obligations and costs associated with maintaining the ASX listing are no longer in the best interests of its shareholders as a whole.
ASX has provided its approval for the company to be removed from the official list of ASX subject to AngloGold complying with certain conditions.
On 15 May 2023, AngloGold will send a letter to each CDI Holder which sets out, in a form and substance satisfactory to ASX, an overview of the delisting process, the various options available to CDI Holders, and a delisting timetable.AngloGold is not required to obtain securityholder approval for the delisting.
