Anglogold Ld Update on Corporate Restructuring

 
TIDMAGD 
 
AngloGold Ashanti Limited 
 
                (Incorporated in the Republic of South Africa) 
 
                           Reg. No. 1944/017354/06) 
 
                  ISIN No. ZAE000043485 - JSE share code: ANG 
 
                    CUSIP: 035128206 - NYSE share code: AU 
 
15 September 2014 
 
NEWS RELEASE 
 
AngloGold Ashanti Provides Update on Proposed Restructuring, and Withdraws 
Cautionary Announcement 
 
(PRESS RELEASE) - Following the announcement of the proposed corporate 
restructuring and capital raising on 10 September 2014, AngloGold Ashanti has, 
as planned, engaged extensively with shareholders holding almost two-thirds of 
its issued share capital, to solicit feedback on these proposals. The proposed 
restructuring would create a London-listed entity to house the company's 
international assets with the South African assets remaining at AngloGold 
Ashanti, thus creating two simpler and more focused entities. 
 
There has been broad support for the strategic logic of the restructuring, but 
a number of shareholders have expressed concerns about certain aspects of the 
proposed transactions, in particular the quantum of the equity capital raising 
needed to enable the restructuring to be implemented in accordance with 
regulatory and other requirements. 
 
AngloGold Ashanti has, therefore, decided not to proceed with the restructuring 
and capital raising, as currently proposed. The company will continue to 
evaluate all options to address debt levels and unlock value, taking into 
account the feedback from its shareholders and its business needs. 
 
AngloGold Ashanti has a world class portfolio of assets, growth projects and an 
excellent track record of transforming its business to improve efficiency and 
competitiveness over the past two years, to deliver a record safety performance 
alongside production growth, operating and overhead cost reduction and improved 
cash flows. 
 
Reducing current high debt levels and improving overall financial flexibility 
remain priorities for AngloGold Ashanti, which will now intensify its focus on 
value creation opportunities deliverable within its current structure. The 
company will continue to aggressively identify and implement further 
operational efficiencies, reduce overhead structures and pursue other 
initiatives to improve underlying business performance. The company will also 
accelerate actions to strengthen its balance sheet including debt reduction, 
portfolio simplification and options to unlock value from its Colombian 
portfolio. 
 
AngloGold Ashanti's Board and management would like to thank shareholders for 
their ongoing input and stakeholders, regulators and representatives of 
organised labour, for their support. 
 
Further to the cautionary announcement dated 10 September 2014, caution is no 
longer required to be exercised by shareholders when dealing in AngloGold 
Ashanti securities. 
 
ENDS 
 
Sponsor to AngloGold Ashanti 
UBS South Africa (Pty) Limited 
 
 
CONTACTS 
 
Media 
Brunswick Group   [phone] / [phone]   [e-mail] 
 
Investors 
Stewart Bailey    [phone] / [phone]            [e-mail] 
Fundisa Mgidi (South Africa) [phone] / [phone]  [e-mail] 
 
Disclaimer 
 
This announcement includes "forward-looking information" within the meaning of 
Section 27A of the United States Securities Act of 1933, as amended, and 
Section 21E of the United States Securities Exchange Act of 1934, as amended. 
All statements other than statements of historical fact are, or may be deemed 
to be, forward-looking statements, including, without limitation those 
concerning: the economic outlook for the gold mining industry; expectations 
regarding gold prices, production, cash costs, all-in sustaining costs, cost 
savings and other operating results; return on equity, productivity 
improvements, growth prospects and outlook of AngloGold Ashanti's operations, 
individually or in the aggregate, including the achievement of project 
milestones, the commencement and completion of commercial operations at certain 
of AngloGold Ashanti's exploration and production projects and the completion 
of acquisitions and dispositions; AngloGold Ashanti's liquidity and capital 
resources and expenditure; and the outcome and consequences of any potential or 
pending litigation or regulatory proceedings or environmental, health and 
safety issues. These forward-looking statements are not based on historical 
facts, but rather reflect AngloGold Ashanti's current expectations concerning 
future results and events and generally may be identified by the use of 
forward-looking words or phrases such as "believe", "aim", "expect", 
"anticipate", "intend", "foresee", "forecast", "likely", "should", "planned", 
"may", "estimated", "potential" or other similar words and phrases. Similarly, 
statements that describe AngloGold Ashanti's objectives, plans or goals are or 
may be forward-looking statements. 
These forward-looking statements involve known and unknown risks, uncertainties 
and other factors that may cause the AngloGold Ashanti's actual results, 
performance or achievements to differ materially from the anticipated results, 
performance or achievements expressed or implied by these forward-looking 
statements. Although AngloGold Ashanti believes that the expectations reflected 
in these forward-looking statements are reasonable, no assurance can be given 
that such expectations will prove to have been correct. 
 
The forward-looking statements included in this announcement are made only as 
of the last practicable date. AngloGold Ashanti undertakes no obligation to 
update publicly or release any revisions to these forward-looking statements to 
reflect events or circumstances after the date of this announcement or to 
reflect the occurrence of unanticipated events. All subsequent written and oral 
forward-looking statements attributable to AngloGold Ashanti or any person 
acting on its behalf are qualified by the cautionary statement in this section. 
 
For a discussion of risk factors, shareholders should refer to the annual 
report on Form 20-F for the year ended 31 December 2013, which was filed with 
the Securities and Exchange Commission on 14 April 2014. These factors are not 
necessarily all of the important factors that could cause AngloGold Ashanti's 
actual results to differ materially from those expressed in any forward-looking 
statements. Other unknown or unpredictable factors could also have material 
adverse effects on future results. 
 
 
 
 
END