Impala Platinum Holdings Limited - Share Incentive Scheme
Impala Platinum Holdings Limited
(Incorporated in the Republic of South Africa)
Registration No. 1957/001979/06
Share code: IMP/IMPO
ISIN: ZAE 000003554
LSE: IPLA
ADR`s IMPUY
(`Implats` or `the company`)
Share Incentive Scheme
Implats has approved a new bonus plan for qualifying employees to replace the
existing Share Incentive Scheme approved by shareholders.
Recent amendments to the tax legislation are aimed at taxing the full benefits
arising from share incentive schemes at normal income tax rates.
Consequently, Implats will not offer employees any further options under the
existing Share Incentive Scheme, but will pay relevant employees a fully taxable
bonus based on the increase in the share price. Employees` interests will still
be aligned with those of shareholders, but without any dilutionary effect.
The rules governing the quantum and timing of benefits to be delivered to
employees under the new bonus scheme will be no different from those under the
existing Share Incentive Scheme.
Johannesburg
16 May 2005
Queries:
Cathie Markus
+27 11 481 3925
Bob Gilmour
+ 27 11 481 3913
Ilse Meiring
+ 27 11 481 3943
Date: 16/05/2005 02:30:03 PM
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