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JOHANNESBURG - Valterra Platinum Limited, formerly known as Anglo American (JO:AGLJ) Platinum Limited, has completed the distribution of shares following its successful demerger from Anglo American plc. The distribution, which took place on Monday, involved the allocation of Valterra Platinum shares to several directors and the company secretary who held shares in Anglo American at the time of the demerger.
The demerger, which became effective on May 31, 2025, allowed for the distribution of Valterra Platinum shares to its existing shareholders. This included direct beneficial interests for directors such as Noman Mbazima, Craig Miller, Hendrik Faul, Lwazi Bam, Suresh Kana, and Dorian Emmett, as well as the company secretary Fiona Edmundson. The shares were distributed on the Johannesburg Stock Exchange and the London Stock Exchange (LON:LSEG), with individual transaction values ranging from R41,578.48 to R7,066,227.44.
In addition to the distribution, the demerger triggered the accelerated vesting of shares from the Anglo American Share Incentive Plan (SIP), resulting in on-market sales of shares by directors Craig Miller and Hilton Ingram on the London Stock Exchange.
Valterra Platinum has also addressed the long-term incentives for former Anglo American employees who have transitioned to Valterra as part of the demerger. These employees are considered "good leavers" and have received pro-rated vesting of their outstanding Anglo American Long-Term Incentive Plan (LTIP) awards. Replacement Valterra LTIP awards will be granted with a vesting period of three years, contingent upon meeting certain performance conditions.
Yvonne Mfolo, a director at Rustenburg Platinum Mines Limited, a major subsidiary of Valterra Platinum, and company secretary Fiona Edmundson accepted off-market LTIP 2024 conditional awards, with transaction values of R6,353,529.56 and R2,151,724.86, respectively.
The company has confirmed that all necessary clearances were obtained for these transactions. The details of the LTIP awards and the performance conditions required for vesting are outlined in the Remuneration Report of the 2024 Governance Report available on Valterra Platinum’s website.
This news is based on a press release statement from Valterra Platinum Limited.
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