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Northam buys a further R997.5m worth of Zambezi shares

1st November 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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Precious metals miner Northam Platinum has reached an agreement to acquire additional Zambezi shares for R997.5-million, following which Northam will hold 22.94% of all Zambezi shares.

Northam’s acquisition of Zambezi shares will reduce the preference share dividend expense and liability included in its consolidated financial statements, as well as Northam’s potential financial exposure under the guarantee it provides to Zambezi shareholders.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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