Last checked at 
(Alliance News) - Thungela Resources Ltd on Thursday said it expects to list on the Main Market of the London Stock Exchange and the main board of the Johannesburg Stock Exchange on June 7, following its demerger from Anglo American PLC expected to come into effect on June 4.
Earlier Thursday, Anglo American announced that it would exit its South African thermal coal operations as part of its drive for a "responsible transition" from thermal coal.
"We are confident that Thungela will be a responsible steward of our thermal coal assets in South Africa, benefiting from an experienced and diverse management team and board. While representing just a small proportion of Anglo American today, we are laying the foundation for South Africa's leading coal business, setting it up for success to deliver value for all its stakeholders," said Anglo American Chief Executive Mark Cutifani.
The demerger is conditional on gaining at least 75% Anglo American shareholder approval at an upcoming general meeting, as well as being sanctioned by the UK High Court.
Shares in Anglo American closed 3.2% higher at 3,084.00 pence on Thursday in London, while its Johannesburg shares ended 1.7% higher at ZAR609.00.
By Greg Roxburgh; gregroxburgh@alliancenews.com; Updated by Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
