Following two tranches of share buyouts by Impala Platinum (Implats) on November 29 and December 1 – for an aggregate of 84.89-million shares of Royal Bafokeng Platinum (RBPlat) – Implats has acquired a further 7.39-million RBPlat shares on December 2.
This takes Implats’ shareholding in RBPlat to 31.94%, with the December 2 share buyout constituting the acquisition of a further 2.56%.
Implats confirms that these acquisitions have already been disclosed to the Takeover Regulation Panel.
In addition, Implats may be acquiring further RBPlat shares in the future while the offer remains open.
“We are exceptionally pleased with the progress made following our offer to RBPlat shareholders on November 29. This is a strong indication that the RBPlat shareholders see value in our offer.
"The true value of this offer remains in the long-term worth that can be delivered from Implats’ and RBPlat’s contiguous, high-value production base on the Western Limb. It ideally positions Implats to start the significant value unlock possible between Implats and RBPlat," Implats CEO Nico Muller commented.