Impala Platinum in negotiations to acquire Royal Bafokeng Platinum
RBPlat and Implats (the Parties) are in discussions relating to a non-binding indicative proposal from Implats to acquire 100% of the issued ordinary shares of RBPlat, other than treasury shares held by the RBPlat Group by way of a scheme of arrangement in terms of section 114 of the Companies Act, 71 of 2008.
Should Implats acquire all the issued ordinary shares in RBPlat, application will be made to the JSE for the issued ordinary shares of RBPlat to be delisted.
The Parties have completed a reciprocal due diligence exercise and are progressing a Proposed Transaction implementation agreement. Shareholders will be kept informed of developments in this regard.
The Proposal, which contains terms and conditions customary for a transaction of this nature, does not constitute an offer or a firm intention to make an offer as contemplated by regulation 101 of the Companies Regulations, 2011.