JOHANNESBURG (miningweekly.com) – The majority of the transactional documents for the proposed merger between Aim- and JSE-listed Jubilee Platinum and ASX-listed Platinum Australia had been finalized, with the conclusion of the latter company’s creditors’ compromise arrangements expected within three days.
Jubilee indicated that the projected completion date of the merger remained unchanged for mid-May.
Earlier this month, the companies had again extended the heads of agreement (HoA) for the possible merger until February 15.
The parties had agreed to extend the agreement deadline until the implementation agreement for the proposed merger was complete.
The parties initially extended the terms of the HoA to January 28, as the terms for the settlement of embattled platinum miner Platinum Australia’s senior debt were negotiated. This was reported to be complete.