news release
AngloGold Ashanti Limited \ (Incorporated in the Republic of South Africa)
(Reg. No.1944/017354/06) \ ISIN Number: ZAE000043485 – JSE Share Code: ANG – NYSE Ticker: AU
Corporate Affairs Department: \ 16th Floor \ 11 Diagonal Street \ Johannesburg \ 2001 \ South Africa
Tel +27 (0)11 637 6261 \ Fax +27 (0)11 637 6399/6400 \ www.AngloGoldAshanti.com
AGA06.06
AngloGold Ashanti announces pricing of equity offering
AngloGold Ashanti Limited (“AngloGold Ashanti”) today announces that its offering of 9,970,732 AngloGold
Ashanti ordinary shares (“ordinary shares”) and the offering by Anglo South Africa Capital (Proprietary) Limited
(“ASAC”), a wholly owned subsidiary of Anglo American plc, of 16,328,313 ordinary shares, in each case, in the
form of ordinary shares or AngloGold Ashanti American Depositary Shares (“ADSs”), (collectively “the combined
offering”), has been priced at US$51.25 per ADS and ZAR315.19 per ordinary share. The combined offering is
scheduled to close on 20 April 2006. The net proceeds from this offering to AngloGold Ashanti are expected to
be approximately US$495 million. To the extent that the combined offering has been oversold, ASAC has
granted the underwriters an option to purchase up to an additional 3,944,857 ordinary shares. The underwriters
have up until 30 days after the date hereof to exercise this option.
The combined offering was led by Goldman, Sachs & Co. and UBS Investment Bank as joint-global co-ordinators
and joint bookrunners for the combined offering. BMO Nesbitt Burns and J.P. Morgan Securities acted as co-
managers.
A final prospectus supplement for the combined offering will be filed with the U.S. Securities and Exchange
Commission as soon as possible. Copies of the final prospectus supplement and prospectus may be obtained
from the offices of Goldman, Sachs & Co., 85 Broad Street, New York, New York 10004, telephone: 1-866-471-
2526 and from UBS Securities LLC, 1285 Avenue of the Americas, New York, New York 10019-6028, telephone:
1-888-827-7275.
The information in the following paragraphs is furnished pursuant to the requirements of JSE Limited (the “JSE”):
The price per ordinary share represents a 1% discount to the weighted average traded price of the equity
securities on the JSE over the 30 days prior to pricing.
Unaudited pro forma per share information for the year ended 31 December 2005
The unaudited pro forma financial information of AngloGold Ashanti has been prepared in order to show the
effects of the issue, assuming that the issue took place to its full extent on 1 January 2005 for purposes of the
income statement for the year ended and as at 31 December 2005 for purposes of the balance sheet. The
information is the responsibility of the directors of AngloGold Ashanti and has been prepared for illustrative
purposes only and may not, because of its nature, give a true picture of the financial position of AngloGold
Ashanti. It does not purport to be indicative of what the results or financial results would have been if the issue
had actually occurred at an earlier date. The net share issue proceeds are assumed to be US$495 million, being
share issue proceeds of US$511 million less the US$16 million of underwriting cost and issue expenses.
The pro forma historical financial effects of the issue are as follows:
For the year ended 31 December 2005
Before the
issue
After the
issue
Movement
Net asset value per ordinary share
1
US cents
1,009
1,152
14.2%
Net tangible asset value per ordinary share
1
US
cents
858
1,007
17.4%
Cash gross profit per ordinary share
2
US
cents
360
347
(3.6)%
Basic loss per ordinary share
3
US
cents
(69)
(61)
(11.6)%
Diluted loss per ordinary share
4
US
cents
(69)
(61)
(11.6)%
Headline loss per ordinary share
5
US
cents
(37)
(30)
(18.9)%
Headline loss adjusted for the effect of unrealised non-hedge
derivatives, fair value adjustment on convertible bonds and
interest rate swap per ordinary share
6
US
cents
76
79
3.9%
Weighted average number of ordinary shares in issue
7
264,635,634
274,606,366
3.8%
Weighted average diluted number of ordinary shares in issue
8
264,635,634
274,606,366
3.8%
Number of shares in issue
9
264,938,432
274,909,164
3.8%
Net debt to net capital employed
10
28.1%
19.8%