Anglogold Ashanti sells shares to its executive director

AngloGold Ashanti has given notice that its executive director, Ludwig Eybers, has dealt in ordinary shares of the Company, after having received clearance to do so under the Johannesburg Stock Exchange (JSE) Listings Requirements.

The transactions were pursuant to a Co-Investment Plan (CIP) for the Company’s executives. In terms of the CIP, executives are allowed to apply up to 50% of their after-tax cash bonus to purchase AngloGold Ashanti ordinary shares. The Company then matches their investment at 150% through an onmarket purchase of shares, with vesting over a two-year period in two equal tranches; the first vesting date being the anniversary of the date on which the executive purchased the shares and the second vesting date being the second anniversary of the date on which the executive purchased the shares.

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According to a press release from the company, Eybers opted to participate in the CIP in 2018. This being the second anniversary of the date on which the executive director purchased the shares in 2018, the Company has purchased and allocated matching shares to the executive director

“Related taxes have been paid by the prescribed officer by selling a portion of the shares allocated to the prescribed officer by the Company,” the release stated.

Source: Kofi Ahovi//businessweekghana.com