/ 24 January 1999

AMIC SWAP TESTED

THE blockbuster restructuring of Anglo American Corporation faces another key test on Thursday when shareholders in Anglo’s industrial subsidiary consider a share swap offer. The scheme meeting for Anglo American Industrial Corp (Amic) is one of Anglo American’s last major hurdles as it tries to consolidate its operations and move its domicile to London. Shareholders in Anglo American Coal (Amcoal), De Beers, Haggie Ltd and New Central Witwatersrand have already approved schemes of arrangement linked to the restructuring of the Anglo American empire. If approved, Anglo will acquire the 48% of Amic’s shares it does not already own.