NOTICE OF ANNUAL GENERAL MEETING continued
19. Special resolution number 8
Approval for the company to grant financial assistance in terms of Sections 44 and 45 of the Companies Act
“RESOLVED, as a special resolution, to the extent required by the Companies Act, that the board of directors of the company may,
subject to compliance with the requirements of the company’s MOI, the Companies Act and the JSE Listings Requirements, each
as presently constituted and as amended from time to time, authorise the company to provide direct or indirect financial assistance,
including by way of loan, guarantee, the provision of security or otherwise, to any of its present or future subsidiaries and/or any
other company or entity that is or becomes related or inter-related to the company, for any purpose or in connection with any matter,
including, but not limited to, the subscription of any option, or any securities issued or to be issued by the company or a related or
inter- related company, or for the purchase of any securities of the company or a related or inter-related company, for such amounts
and on such terms as the board may determine. This authority will expire on the second anniversary of the date on which this special
resolution is adopted, unless renewed prior thereto.”
Section 45 applies to financial assistance provided by a company to any related or inter-related company or corporation, a member of
a related or inter-related corporation, and to a person related to any such company, corporation or member.
Further, section 44 of the Companies Act may also apply to the financial assistance so provided by a company to any related or
inter-related company or corporation, a member of a related or inter-related corporation, or a person related to any such company,
corporation or member, in the event that the financial assistance is provided for the purpose of, or in connection with, the subscription
of any option, or any securities, issued or to be issued by the company or a related or inter-related company, or for the purchase of
any securities of the company or a related or inter-related company.
Both sections 44 and 45 of the Companies Act provide, inter alia, that the particular financial assistance must be provided only
pursuant to a special resolution of shareholders, adopted within the previous two years, which approved such assistance either for
the specific recipient, or generally for a category of potential recipients, and the specific recipient falls within that category and the
board of directors is satisfied that: (i) immediately after providing the financial assistance, the company would satisfy the solvency and
liquidity test (as contemplated in the Companies Act); and (ii) the terms under which the financial assistance is proposed to be given
are fair and reasonable to the company.
As part of the normal conduct of the business of the company and its subsidiaries or associates (“AngloGold Ashanti Group”), the
company, where necessary, usually provides guarantees and other support undertakings to third parties on behalf of its local and
foreign subsidiaries and joint ventures or partnerships in which the company or members of the AngloGold Ashanti Group have an
interest. This is particularly so where funding is raised by the foreign subsidiaries of the company, whether by way of borrowings or
the issue of bonds or otherwise, for the purposes of the conduct of their operations. Previously in terms of the company’s articles
of association and the now repealed Companies Act 61 of 1973, as amended, the company was not precluded from providing the
aforementioned financial assistance. The company would like the ability to provide financial assistance, if necessary, also in other
circumstances, in accordance with section 45 of the Companies Act. Furthermore it may be necessary for the company to provide
financial assistance to any of its present or future subsidiaries, and/or to any related or inter-related company or entity and/or to a
person related to any such company or entity, to subscribe for options or securities of the company or another company related or
inter-related to it. Under the Companies Act, the company will however require the special resolution referred to above to be adopted.
It is difficult to foresee the exact details of financial assistance that the company may be required to provide over the upcoming
months. It is essential however that the company is able to organise effectively its internal financial administration. For these reasons
it is necessary to obtain the approval of shareholders as set out in special resolution number 8.
It should be noted that this resolution does not authorise financial assistance to a director or a prescribed officer of the company or
any company or person related to such a director or prescribed officer.
20. Ordinary resolution number 10
Election of Mr DL Hodgson as a director
“RESOLVED, as an ordinary resolution, that Mr DL Hodgson, who was appointed by the board and retires in terms of the MOI of the
company and is eligible and available for election, be and is hereby elected as a director of the company.”
NOTICE OF MEETING AND SUMMARISED FINANCIAL INFORMATION
2013
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