(Alliance News) - Anglo American PLC on Thursday said the demerger of its South African coal business, called Thungela Resources Ltd, was given the go-ahead by shareholders at a general meeting on Wednesday.
The global miner said Thungela shares are set to be admitted to trading on the Main Board of the Johannesburg Stock Exchange on June 7, if all remaining conditions are satisfied.
On the same date, Thungela will also be admitted to the standard listing segment of the UK Official List and to trading on the main market of the London Stock Exchange.
A total of 94% of Anglo American shareholders voted in favour of the demerger, while the remaining 6% voted against.
Thungela produced 16.5 million tonnes of thermal coal in 2020.
Anglo American was trading 0.8% higher at 3,292.00 pence each in London on Thursday morning, and was up 1.3% at ZAR656.63 each in Johannesburg.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Anglo American (AAL)