https://www.miningweekly.com
Platinum
Platinum
platinum

Implats hints at another extension of long-stop date for RBPlat buyout

2nd November 2022

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

JSE-listed Impala Platinum (Implats) has advised that the outstanding Competition Tribunal approval of its offer to buy out all remaining ordinary shares of fellow platinum group metals miner Royal Bafokeng Platinum (RBPlat) will not be finalised by November 3.

Although it does still believe that the current date set for fulfilment or waiver of the conditions precedent – the long-stop date – of November 22 is still achievable, it notes that it reserves the right to further extend the long-stop date.

Only once Implats has more certainty on the commission’s approval process can it make further announcements on the dates and times for the offer.

The Competition Commission in May recommended that the Tribunal approve the merger.

Implats has been steadily increasing its shareholding in RBPlat since it first mentioned its intention to take over the company in November 2021 at a value of R150 a share – R90 in cash and R60 in shares.

Implats’ current stake in RBPlat is 40.66%, while fellow platinum miner Northam Platinum holds a 35% stake.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.224 0.263s - 107pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: