SAINT PETER PORT, Guernsey , Feb. 02, 2021 (GLOBE NEWSWIRE) -- Allan & Gill Gray Foundation (the “Foundation”), a Guernsey foundation having its registered office at Redwood House, St. Julian’s Avenue, Saint Peter Port, Guernsey GY1 1WA, today announces that on February 1, 2021 Allan Gray Australia Pty Limited and Orbis Investment Management Limited, indirect subsidiaries of the Foundation that operate as separate business units, acquired an aggregate of 1,192,631 Common Shares of Newcrest Mining Limited (“Newcrest”), a company with a head office at Level 8, 600 St. Kilda Road, Melbourne, Victoria, Australia 3004. The Common Shares were acquired by Allan Gray Australia Pty Limited and Orbis Investment Management Limited through the Australia Securities Exchange for prices between AUD 25.51 and AUD 25.53 per share, for the total consideration of AUD $30,471,673 (approximately, CAD $29,822,578).

Prior to the transactions, the Foundation beneficially owned, or had control or direction over, 81,524,333 Common Shares and 129,339 American Depositary Receipts, representing 9.99% of the outstanding Common Shares of Newcrest. Immediately following the transactions, the Foundation beneficially owned, or had control or direction over, 82,716,964 Common Shares and 129,339 American Depositary Receipts, representing 10.15% of the outstanding Common Shares and an increase of approximately 0.15% (note, percentages may not add up due to rounding). Of these Common Shares and American Depositary Receipts:

Allan Gray Australia Pty Limited controls but does not beneficially own 21,037,847 of the Common Shares, representing 2.58% of the outstanding Common Shares of Newcrest, on behalf of client accounts over which it has discretionary trading authority.

Orbis Investment Management Limited controls but does not beneficially own 51,979,117 of the Common Shares and 129,339 of the American Depositary Receipts, representing 6.38% of the outstanding Common Shares of Newcrest, on behalf of client accounts over which it has discretionary trading authority.

EmCap Limited, a subsidiary of the Foundation, has ownership and control over 9,700,000 Common Shares, representing 1.19% of the outstanding Common Shares of Newcrest.

The Common Shares and American Depositary Receipts referred to above were acquired in the ordinary course of business, for investment purposes only and not for the purpose of exercising control or direction over Newcrest. The Foundation, and/or its direct or indirect subsidiaries, may from time to time on their own behalf or on behalf of client accounts over which they have discretionary trading authority, acquire additional securities of Newcrest, dispose of some or all of the existing or additional securities of Newcrest, or may continue to hold the securities referred to in this report.

For further information, please contact:

Craig Bodenstab
Phone: +1 (441) 242-3000