HomeNewsAmplats transfers R2 billion in settlement community share scheme

Amplats transfers R2 billion in settlement community share scheme

Anglo American Platinum has announced the successful settlement of the notional vendor finance by its community share scheme, resulting in the Lefa Le Rona Trust (LLRT), which is the umbrella trust on behalf of the regional development trusts (DTs), now holding unencumbered shares in Anglo American Platinum with a value of c.R2 billion at vesting.

The settlement of the NVF and transfer of value to communities comes one year prior to the maturity of the Alchemy Scheme period (December 2011 to December 2021), due to Anglo American Platinum’s recent strong share price performance.

Read more about PGMs

Natascha Viljoen, CEO of Anglo American Platinum says:

“I am delighted to announce that our community share scheme Alchemy, set up in 2011, has delivered on its objective of creating sustainable shared value to our host communities and specific communities from where our employees originate in the Eastern Cape, North West and Southern African Development Community (SADC) countries.

“The settlement will result in R2 billion of value transferring to these communities via regional development trusts. These trusts will focus on advancing broad-based community development including infrastructure, education and health developments, as well as improving livelihoods.

Anglo American Platinum is playing a responsible role by catalysing development in our communities. Through our established governance structures, we will work with the DTs to ensure the careful deployment of this capital so that it can further advance our efforts to deliver shared value and build thriving communities.”