Implats undertakes bond conversion
JSE-listed platinum miner Impala Platinum (Implats) earlier this month received a conversion notice from the holder of the last of the company’s outstanding $250-million 3.25% convertible bonds due in 2022.
In converting this last bond, 51 404 shares will be issued and admitted to trading on the JSE’s equity market on August 27.
Following this, Implats’ enlarged issued share capital will be almost 800-million shares.
The company invited bondholders to exercise their conversion rights, in efforts to optimise its balance sheet through a reduction and restructuring of debt.
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