ROYAL BAFOKENG PLATINUM LIMITED - SARS Tax Settlement
RBP 201507100017A
SARS Tax Settlement
ROYAL BAFOKENG PLATINUM LIMITED
Incorporated in the Republic of South Africa)
Registration number 2008/015696/06)
JSE share code: RBP ISIN: ZAE000149936
(“RBPlat” or the “company”)
SARS TAX SETTLEMENT
With reference to the tax contingency as detailed per note 21.5 to
the RBPlat Consolidated Annual Financial Statements for the year
ended 31 December 2014, RBPlat is pleased to announce that an
amicable settlement has been reached in respect of the dispute
between its wholly-owned subsidiary, Royal Bafokeng Resources
Proprietary Limited (“RBR”) and the South African Revenue Services
(“SARS”) relating to the tax assessments for the 2008, 2009 and 2010
tax years.
The settlement comprises of a R50 million up-front cash payment
followed by a further R60 million tax payment to SARS in future, when
and to the extent that RBR moves into a net mining tax paying
position which is not anticipated to occur before 2019.
Johannesburg
10 July 2015
JSE Sponsor
Merrill Lynch South Africa Proprietary Limited
For further enquiries, please contact:
Investors:
Martin Prinsloo
Chief Financial Officer
Tel: +27 (0)10 590 4513
E-mail: martin@bafokengplatinum.co.za
Date: 10/07/2015 12:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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