Issued by: Office of Deputy President Thabo Mbeki
In response to media queries regarding the listing of Anglo American on the London Stock Exchange, the office of Deputy President Thabo Mbeki wishes to put the following on record:
1. Deputy President Thabo Mbeki was approached by Mr. Julian Ogilve Thompson for a briefing and a discussion on Anglo-American's plans to list on the London Stock Exchange, following Anglo's acquisition of Minorco.
2. Through this discussion and briefing, Anglo-American wanted to give the South African government an assurance that they had no intention to leave South Africa by buying into Minorco.
3. Anglo's acquisition of Minorco, which would result in the formation of a new company required that they have access to larger capital markets. In this regard, the new company would be listed in the ftse 100 index. This in turn would improve the capacity of the new company to meet its capital requirements.
4. Following this discussion, Deputy President Thabo Mbeki referred th matter to the Minister of Finance Trevor Manual for further discussion and finalisation.
5. The Deputy President remains convinced that the listing of the new company on the London Stock Exchange will not reduce Anglos' contribution to the economy but will on the contrary increase the possibility of expansion of its operations in South Africa.
For more info contact Ronnie Mamoepa at 082-290-4853
Issued by Communications Division Office of Deputy President Thabo Mbeki P/Bag X955 Pretoria 0001 15 October 1998