| Tue 29 Apr 2008, 8:53 | | AQP - Aquarius Platinum Limited - Notice under sec |
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AQP
AQP
AQP - Aquarius Platinum Limited - Notice under section 708a(5)(e) of the
corporations act 2001 completed repurchase of Implats` stakes
Aquarius Platinum Limited
(Incorporated in Bermuda)
Registration Number: EC26290
Share Code JSE: AQP
ISIN Code: BMG0440M1029
28 April 2008
Notice under Section 708A(5)(e) of the Corporations Act 2001
Completed Repurchase of Implats` Stakes
Aquarius Platinum Limited ("Aquarius") wishes to advise that it has completed
the repurchase of Impala Platinum Holdings Limited`s ("Implats") stakes in both
Aquarius Platinum and Aquarius Platinum South Africa ("AQPSA").
Aquarius has repurchased the 21,425,898 common shares (approximately 8.4% of
Aquarius` issued share capital) currently held by Implats for GBP6.71 ($13.34)
per share, representing a total consideration of GBP143.8 million ($285
million). These shares have now been cancelled. In addition, AQPSA has
repurchased Implats` 20% stake in AQPSA for a total consideration of $504.9
million; comprising a cash payment of $459.0 million to Implats and a Secondary
Tax on Companies ("STC") charge of $45.9 million, as required under South
African tax legislation.
The transactions were funded through a combination of an accelerated book build,
cash and debt. The completed bookbuild resulted in the issuance of 23,144,000
new common shares of $0.05 each in Aquarius Platinum, at a price of GBP 800
pence per placing share, raising gross proceeds of approximately $366 million
(GBP185 million). The balance of the transaction was funded through cash and
debt.
The number of common shares on issue has increased to 258,252,368 as detailed
below:
Number of shares on issue pre transaction 256,534,266
Number of new shares issued 23,144,000
Number of Impala Shares cancelled -21,425,898
Total number of new shares post transaction 258,252,368
The number of unlisted options remains 2,799,861
The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations
Act.
The Shares were issued without disclosure to investors under Part 6D.2 of the
Corporations Act, in reliance on Section 708A(5)(e) of the Corporations Act.
The Company, as at the date of this notice, has complied with:
(a) the provisions of Chapter 2M of the Corporations Act as they apply to the
Company; and
(b) Section 674 of the Corporations Act.
There is no excluded information for the purposes of Sections 708A(7) and (8) of
the Corporations Act
For further information please contact:
In Australia: In the United Kingdom and
Willi Boehm South Africa
+61 (0)8 9367 5211 Nick Bias
+44 (0)7887 920 530
Sponsor in South Africa:
Investec Bank
Date: 29/04/2008 08:53:06 Produced by the JSE SENS Department.
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