JOHANNESBURG (miningweekly.com) – Shareholders of Aquarius Platinum have approved a proposed deal that will see the company acquired by fellow miner Sibanye Gold for $0.195 a share.
The transaction, which would be implemented by way of an amalgamation under Bermuda law, needed to be approved by a simple majority of votes cast by Aquarius shareholders at a special general meeting held in Bermuda on Monday.
“Aquarius Platinum Limited announces that the resolution put to the meeting was carried by the requisite majority,” the company said in a statement.
The only outstanding regulatory approvals required for the transaction to proceed were those of the South African competition authorities.
Once these competition approvals had been obtained, a timetable of events leading up to the date for payment of the consideration would be announced, the group stated.
Sibanye shareholders had, meanwhile, on Monday also approved the acquisition of the North West-based Bathopele, Siphumelele and Thembelani mines from Anglo American Platinum subsidiary Rustenburg Platinum Mines.
“It is extremely pleasing to note the tremendous support shown by the Sibanye and Aquarius shareholders for the acquisitions of the Rustenburg operations and Aquarius. We look forward to concluding both transactions as soon as possible and integrating the Rustenburg and Aquarius operations into Sibanye. We are confident that significant value will be realised from these world-class platinum assets for the benefit of all Sibanye stakeholders,” commented Sibanye CEO Neal Froneman.