| Wed 17 Jan 2018, 9:00 | | ROYAL BAFOKENG PLATINUM LIMITED - Competition Tribunal Approval Obtained for the Acquisition by RBPlat of Maseve Investments 11 (Pty) Ltd |
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RBP 201801170005A
Competition Tribunal Approval Obtained for the Acquisition by RBPlat of Maseve Investments 11 (Pty) Ltd
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”)
COMPETITION TRIBUNAL APPROVAL OBTAINED FOR THE ACQUISITION BY RBPLAT OF MASEVE INVESTMENTS 11 (PTY) LTD
Shareholders are referred to the announcement released by the Company on SENS on
6 September 2017, together with the circular posted to shareholders on 2 November 2017 and
subsequent announcement dated 23 November 2017, in terms of which RBPlat advised shareholders
that it had concluded agreements with Platinum Group Metals (RSA) Proprietary Limited (“PTM
(RSA)”), pursuant to which RBPlat will, subject to the fulfilment or, where possible, waiver, of certain
conditions precedent, acquire –
(i) the concentrator plant and certain surface assets of Maseve Investments 11 Proprietary
Limited (“Maseve”) for an aggregate consideration equal to the ZAR equivalent of
USD58 million (the “Plant Transaction”); and
(ii) 100% of the shares in and shareholder claims owing by Maseve for an aggregate consideration
equal to the ZAR equivalent of USD12 million.
The board of directors of RBPlat is pleased to advise shareholders that one of the key conditions
precedent to the Plant Transaction, being approval by the South African Competition Tribunal, has
now been obtained, subject to conditions that are acceptable to the parties. The parties continue to
work together in fulfilment of the remaining conditions precedent.
Johannesburg
17 January 2018
Corporate advisor and transaction sponsor
Questco (Pty) Ltd
Competition law advisor
Bowmans
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JSE sponsor
Merrill Lynch South Africa (Pty) Ltd
For further information, please contact:
Lindiwe Montshiwagae
Executive: Investor Relations
Tel: +27 (0)10 590 4517
Email: lindiwe@bafokengplatinum.co.za
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