Impala Issues Offering Circular to RBPlat Shareholders

Impala Platinum Holdings has issued its offering circular to shareholders of Royal Bafokeng Platinum (RBPlat).

The purpose of the offering circular is to provide RBPlat shareholders with information relating to Implats’ offer to acquire all RBPlat shares (other than treasury shares) that it does not already hold.

As of January 7, 2022, Implats held 102,059,866 RBPlat shares, representing approximately 35.31% of the outstanding shares. The Offer Circular also describes how the offer will be implemented.

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Nico Muller, CEO of Implats, says:

“Our value-driven strategy is to increase exposure to shallow, low-cost mechanized assets, enhancing Implats Group’s positioning with a quality portfolio of high value-added operations that are sustainable and competitive throughout. of the cycle.

“The proposed acquisition of additional RBPlat shares will provide a structure that offers compelling strategic, operational and financial benefits for all Implats and RBPlat stakeholders. It secures a Western Limb production base that strengthens and strengthens the region’s position as the world’s largest source of primary PGM production and will bring tangible socio-economic benefits to the region, its communities and the economy. South Africa as a whole, including job security and sustained perquisites for the greater Rustenburg area.

He adds: “The level of ownership of RBPlats achieved by Implats to date is indicative of the broad support we have received and confirms the strategic rationale and value proposition provided by this acquisition.

The offering offers an attractive value proposition for RBPlat shareholders by crystallizing intrinsic equity value at an attractive premium through the receipt of a combination of cash and high-quality liquid securities in Implats.

This in turn offers:

• Exposure to a global portfolio of PGM assets, projects and a toll refining business, which is well positioned to leverage the full PGM value chain through integrated processing facilities, including smelters wholly-owned, as well as base and precious metals refineries.

• The opportunity to benefit from regionally diversified production growth through shallow, mechanized operations on the Eastern Branch of the Bushveld Complex, in Canada and Zimbabwe and the planned expansion of installed processing capacity.

• Best positioned to deliver the future operational benefits of the significant and unique regional synergies presented by these contiguous operations, given Implats’ comprehensive experience of the ore body and its ability to capitalize on profitable opportunities for future growth.

• An attractive and sustainable dividend yield supported by clear and disciplined capital allocation priorities and a strong and flexible balance sheet.

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