PAM
PAM
PAM - Palabora Mining Company Limited - Cautionary Announcement - Potential
Broad Based Black Economic Empowerment Transaction
Palabora Mining Company Limited
(Incorporated in the Republic of South Africa)
Registration number 1956/002134/06
JSE Code: PAM ISIN: ZAE000005245
("Palabora" or "the company")
CAUTIONARY ANNOUNCEMENT - POTENTIAL BROAD BASED BLACK ECONOMIC EMPOWERMENT
TRANSACTION
Shareholders of Palabora are advised that the company has entered into
discussions regarding a potential broad based Black Economic Empowerment
transaction involving all or an appropriate part of its business ("the
Transaction").
The Transaction in broad terms involves an internal leveraged structure pursuant
to which the Black Economic Empowerment shareholders will acquire an equity
interest not exceeding 26% in a newly formed, special purpose subsidiary of
Palabora, which subsidiary will acquire all or an appropriate part of Palabora`s
business. The Transaction therefore does not envisage a change in the existing
share capital or shareholders of Palabora.
The full impact of the Transaction on Palabora`s shareholders is currently being
determined and may have a material effect on the price of the shares of the
company. Accordingly, shareholders are advised to exercise caution when dealing
in the shares of the company until a further announcement is made.
By order of the Board
Phalaborwa
17 November 2008
Corporate Transaction Co- Sponsor Legal Advisor
Advisor Advisors Barnard Jacobs Webber Wentzel
Rothschild Mellet
Bravura Equity Corporate
Services Finance (Pty)
Ltd
Date: 17/11/2008 12:00:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
