| Fri 14 May 2010, 7:16 | | PLN - Platmin Limited - Platmin successfully completes raising of US$250 million |
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PLN
PLN
PLN - Platmin Limited - Platmin successfully completes raising of US$250 million
of new equity and US$135 million of convertible debentures
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
PLATMIN SUCCESSFULLY COMPLETES RAISING OF US$250 MILLION OF NEW EQUITY AND
US$135 MILLION OF CONVERTIBLE DEBENTURES
Thursday, 13 May, 2010. TORONTO: Platmin Limited (TSX/AIM: PPN; JSE: PLN) today
announced the completion of the previously announced issuance of 205,761,317 new
common shares at a price of US$1.215 per common share for a total consideration
of US$250 million, and the issuance of US$135 million of convertible debentures.
Common shares to the value of US$115.860 million were underwritten by RBC
Capital Markets and Investec Bank Limited, while shares to the value of
US$134.140 million were acquired directly from Platmin by Ridgewood Investments
(Mauritius) Pte Ltd, an indirect subsidiary of Temasek Holdings (Private)
Limited, Algemene Pensioen Groep (APG) N.V., and the Pallinghurst Investor
Consortium (Lux) S.a.r.l. The total funding from the prospectus offering and
private placement is US$385 million. Proceeds from the convertible debenture
financing have been deposited to cash collateralized accounts, and in the event
the convertible debentures are not converted in full prior to the maturity date,
the principal amount will be returned to the holders.
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.
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
Sponsor:Investec Bank limited
Date: 14/05/2010 07:16:02 Produced by the JSE SENS Department.
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