5th Oct 2007 10:16
Anglo American PLC05 October 2007 News Release 5th October 2007 Tarmac gives notice to acquire 50% of United Marine Holdings Tarmac Ltd (Tarmac), a wholly-owned subsidiary of Anglo American plc, has givennotice of the exercise of an option to acquire 50% of United Marine Holdings Ltd(UMH) from Hanson Quarry Products Europe Limited (Hanson), a subsidiary ofHeidelbergCement AG. UMH is currently a 50/50 joint venture between Tarmac andHanson, and the option, which is contained in the shareholders' agreementrelating to UMH, relates to a change of control provision which Tarmac considershas been triggered by the acquisition of Hanson PLC by HeidelbergCement AG.Tarmac and Hanson are holding discussions that could lead to additional oralternative mutually beneficial arrangements in relation to UMH. UMH is a marine aggregates business, operating dredging ships and loadingwharves on and around the coasts of England and Wales. Its unaudited accountsfor the year ending 31 December 2006 show 50% of net assets to be approximately£17m, 50% of gross assets to be approximately £29m, and 50% of operating profitto be approximately £5m. Completion of the transaction will result in Tarmacholding 100% of UMH. The consideration, which under the terms of the shareholders' agreement is to bedetermined either by negotiation between Hanson and Tarmac, or by reportingaccountants on the basis of the market value of the interest to be acquired,will be settled in cash, and is not expected to have a material impact on AngloAmerican plc. The managing director of UMH is Kevin Seaman, who has held that position for 7years. For further information: Investor and Media Enquiries Charles Gordon Tel: +44 207 968 8933 Anna Poulter Tel: +44 207 968 2155 Notes to Editors: Anglo American plc is one of the world's largest mining and natural resourcegroups. With its subsidiaries, joint ventures and associates, it is a globalleader in platinum group metals and diamonds, with significant interests incoal, base and ferrous metals, as well as an industrial minerals business and astake in AngloGoldAshanti. The Group is geographically diverse, with operationsin Africa, Europe, South and North America, Australia and Asia.(www.angloamerican.co.uk) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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