Tuesday, May 21, 2024

Anglo American Non-Executive Directors acquire ordinary shares

Following Anglo American’s announcement a fortnight ago of the purchase of the company’s ordinary shares by its top management under the company’s share incentive plan (SIP); the company yet again announced the purchase of additional ordinary shares by its Non-Executive Directors under a different buying method.  

The Non-Executive Directors’ purchase of ordinary shares happens a week after the SIP purchase by top management. The company defined SIP as an all-employee share plan under which employees are able to buy shares using monthly deductions from salary (“purchased Shares”), and are allotted an equivalent number of Shares by the Company at nil cost (“matching Shares”). 

The recent announcement explained that the Non-Executive Directors acquired shares in the market using after-tax Directors’ fees in respect of their services to the Company relating to the period 1 April 2016ÔÇô30 June 2016. Below are the names of the Non-Executive Directors and the number of shares each purchased. 

Director                               Number of Shares 

Judy Dlamini                       970

Sir Philip Hampton              1,178 

Mphu Ramatlapeng             404

Jim Rutherford                     1,874


The current share price of Anglo American stock as was given in the company’s website was R 131.15 as at 27 June 2016. Using Anglo American share price calculator which indicates the value of the current holding of shares, from the 970 shares that Judy Dlamini acquired, for example, the calculator produced a value of R 127, 215.5 as at 27 June 2016. Anglo American indicated that each of its four Non-Executive Directors purchased ordinary shares at a price of GBP 6.73 per share ((R136.18) as at 27 June 2016. The top management had on the other hand each purchased shares at a lesser price of GBP 6.08 per share.


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