Anglo American has appointed Goldman Sachs as its principal for buying back its shares on the JSE and UK trading venues, in line with the proportion of Anglo’s shareholder register in South Africa and the UK.
Anglo announced in July that it planned to buy back $1-billion worth of shares on the back of a 46% increase in its interim profit.
Anglo has given Goldman nondiscretionary instruction in relation to the $505-million second tranche of the buyback programme.
Goldman will make its trading decisions concerning the timing of the purchases of Anglo shares independently of Anglo.
The acquired shares will be cancelled.