Anglo American has upped its shareholding in its subsidiary Anglo Platinum by 0.17 per cent from 74.8 per cent to 74.97 per cent.

The world's largest platinum producer increased its stake by accepting shares instead of half of the dividend it was due to receive, bringing its total shares to 176.4 million.

Anglo American, which still received a dividend of R5.41 billion, had previously signalled its intention to exchange half of its dividend for shares at a recent conference when the company's results were presented to shareholders and press.

At the behest of preference shareholders, in January and February of last year 5.970 million preference shares were converted into ordinary shares.

The acquisition means that 80.3 per cent of the 2.7 million new shares that had been created and subsequently offered in the company's subscription scheme have now been taken up.

Earlier this month, Anglo American announced that its Scaw Metals subsidiary is negotiating for an empowerment transaction for its South African assets and has consequently formed a new company called Scaw South Africa.

Ÿ Adfero Ltd