| Mon 19 Apr 2010, 13:34 | | PLN - Platmin Limited - APG and Temasek each to invest US$50 million in Platmin |
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PLN
PLN
PLN - Platmin Limited - APG and Temasek each to invest US$50 million in Platmin
as part of US$250 million market offering
Platmin Limited
Incorporated in the accordance with the laws of Canada
Registration number: 610178-0
Share code on TSX: PPN
Share code on AIM: PPN
Share code on JSE: PLN
ISIN: CA72765Y1097
FOR IMMEDIATE RELEASE
APG and Temasek each to invest US$50 million in Platmin as part of US$250
million market offering
NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE
SERVICES
19 April, 2010. TORONTO: Platmin Limited ("Platmin" or "the Company"; TSX/AIM:
PPN; JSE: PLN) announced today that each of Temasek Holdings (Private) Limited
("Temasek") and Algemene Pensioen Groep N.V. ("APG") has expressed an intention
to purchase US$50 million of new common shares in the US$250 million market
offering launched on 16 April 2010.
Temasek is an Asian investment company headquartered in Singapore. With an
international staff of 350 people, supported by 12 affiliates and offices in
Asia and Latin America, Temasek owns a diversified S$172 billion (US$119
billion) portfolio as of 31 July 2009, concentrated principally in Singapore,
Asia and the emerging economies. It is an active shareholder and investor in
such sectors as banking & financial services, real estate, transportation and
logistics, infrastructure, telecommunications & media, bioscience & healthcare,
education, consumer & lifestyle, engineering & technology, as well as energy &
resources.
APG is a subsidiary of ABP`s subsidiary Stichting Pensioenfonds ABP ("National
Civil Pension Fund", "ABP") the pension fund for government and education
employees in the Netherlands. APG manages pension assets of approximately
Euro240 billion Euros (as at 31 December 2009) on behalf of 20,000 employers and
more than four million participants, making it the largest pension fund in the
Netherlands and among the three largest pension funds in the world.
Closing of the offering remains subject to certain conditions, including
regulatory approval and approval of the Toronto Stock Exchange.
The foregoing common shares, if purchased by Temasek and APG, will be purchased
directly from Platmin and will not be underwritten by RBC Capital Markets or
Investec Bank Limited, the underwriters for the offering.
About Platmin
Platmin explores for and develops and operates platinum group metals (PGM)
deposits in South Africa. The company`s principal current focus is the
Pilanesberg Platinum Mine, which is building up to full production. In addition,
it holds platinum interests on the eastern limb of the Bushveld Complex.
Platmin`s long term goal is to become a significant producer of PGMs.
Regulatory Notices
The Canadian preliminary prospectus is still subject to completion or amendment.
Copies of the preliminary prospectus are available electronically at
www.sedar.com. There will not be any sale or any acceptance of an offer to buy
the common shares until a receipt for the (final) prospectus has been issued by
the applicable Canadian securities regulatory authorities.
Copies of the preliminary prospectus may be obtained from RBC Capital Markets,
Attention: Distribution Centre, 277 Front St. W., 5th Floor, Toronto, Ontario
M5H 2X4 (tel: 416-842-5349).
This news release does not constitute an offer to sell, or the solicitation of
an offer to buy, the securities in any jurisdiction, including the United
States, or to, or for the account or benefit of, U.S. persons absent U.S.
registration or an applicable exemption therefrom, nor shall there be any sale
of the securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of
any such state. The securities being offered will not be, and have not been,
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States or to, or for the account or
benefit of, a U.S. person, absent U.S. registration or an applicable exemption
therefrom.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This market release contains "forward-looking information" which may include,
but is not limited to, statements with respect to the future financial and
operating performance of Platmin, its subsidiaries and its mineral properties,
the future price of platinum or other PGMs, the estimation of mineral resources
and reserves, the realization of mineral resource estimates, exploration
expenditures, timing of the issuance of new common shares, costs and timing of
the development of new deposits, costs and timing of the development of new
mines, timing of economic and scoping-level studies, forecasts and projections
of future production, capital costs and operating costs, future timing of
achieving a steady state of production, future costs and timing of future
exploration, requirements for additional capital, government regulation of
mining operations and exploration operations, timing and receipt of approvals
and licences under mineral legislation, environmental risks, title disputes or
claims and limitations of insurance coverage. Often, but not always, forward-
looking statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or variations (including negative
variations) of such words and phrases, or state that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or be
achieved.
Forward-looking statements in this market release include among others: the
completion of the Offering; the Company`s plans with respect to the future
development and operation of the Pilanesberg Platinum Mine and the future
advancement of the Mphahlele, Grootboom and Loskop projects; the purchase of
US$100m of new common shares by Temasek and APG; projected annualized rates of
production from the Pilanesberg Platinum Mine; the timing and completion of the
offering of new common shares; timing of the receipt of governmental approvals
and/or acceptances; targets, estimates and assumptions in respect of platinum
and other PGMs production and prices; amount and type of future capital
expenditures and capital resources; mineral reserves and mineral resources;
anticipated grades; recovery rates; future financial or operating performance;
costs and timing of the development of new deposits; costs, timing and location
of future drilling; earning of future interests in various permits; production
decisions; costs and timing of construction; operating expenditures; costs and
timing of future exploration; and environmental and reclamation expenses.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
Platmin and/or its subsidiaries to be materially different from any future
results, performance or achievements expressed or implied by the forward-looking
statements. Such factors include, among others, general business; economic,
competitive, political and social uncertainties; the actual results of current
exploration activities; conclusions of economic evaluations and studies;
currency fluctuations; future prices of platinum and other metals; possible
variations of ore grade or recovery rates; failure of equipment to operate as
anticipated; accidents, political instability, insurrection or war; delays in
obtaining governmental approvals or financing; liquidity and financing risks
related to the global economic crisis, as well as those factors discussed in the
section entitled "Risk Factors" in the Company`s annual information form filed
at www.sedar.com. Such forward-looking statements are based on a number of
material factors and assumptions, including: that contracted parties provide
goods and/or services on the agreed timeframes; that no unusual geological
(including grade) or technical problems occur; that plant and equipment work as
anticipated, and that there is no material adverse change in the price of
platinum or other PGMs. Although Platmin has attempted to identify important
factors that could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be other factors
that cause actions, events or results to differ from those anticipated,
estimated or intended. Forward-looking statements contained herein are made as
of the; date of this announcement and Platmin disclaims any obligation to update
any forward-looking statements, whether as a result of new information, future
events or results or otherwise, except as required by applicable laws. There can
be no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements due to the inherent uncertainty therein.
For further information
Charmane Russell Nicola Taylor
Russell & Associates Russell & Associates
+27 11 880 3924 + 27 11 880 3924
+27 82 372 5816 + 27 82 927 8957
19 April 2010
Investment Bank and Sponsor: Investec Bank Limited
Date: 19/04/2010 13:34:01 Produced by the JSE SENS Department.
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