EPS
EPS
EPS - Eastern Platinum Limited - Eastplats purchases 42.3% of Barplats partner
EASTERN PLATINUM LIMITED
(Incorporated in Canada)
(Canadian Registration number BC0722783)
(South African Registration number 2007/006318/10)
Share Code TSX: ELR ISIN: CA 2768551038
Share Code AIM: ELR ISIN: CA 2768551038
Share Code JSE: EPS ISIN: CA2768551038
("Eastplats" or "the Company")
EASTPLATS PURCHASES 42.3% OF BARPLATS PARTNER
Further to its news release of March 6, 2007, Eastern Platinum Limited (the
"Company") announces that it has completed the acquisition of 42.3% of the
shares of Gubevu Consortium Investment Holdings (Proprietary) Limited
("Gubevu"), which company holds 26% of the shares of Barplats Investments Ltd.
The purchase price was 43,000,000 Rand (Cdn$6.325 million). In addition, the
Company settled certain fees and expenses of Gubevu totalling 21,600,000 Rand
(Cdn$3.18 million).
In conjunction with the purchase of the Gubevu shares, the Company also acquired
certain loans of Gubevu and Barplats from third party lenders in consideration
of payments totalling US$37,500,000, representing the principal and interest
owing on such loans together with related fees and expenses.
Total Shares Issued and Outstanding: 667,778,194
For further information contact:
Investor Relations
Website: www.eastplats.com
Email: info@eastplats.com
#501-837 West Hastings Street,
Vancouver, BC, Canada, V6C 3N6
Tel: (604) 685-6851, Fax: (604) 685-6493
Sponsor PSG Capital (Pty) Limited
Date: 18/06/2007 11:18:00 Produced by the JSE SENS Department.
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