Implats increases stake in RBPlat to 44.72%

CBCIE Time：Apr 19, 2023 15:21 Source：miningweekly

JSE-listed platinum group metals (PGMs) miner Impala Platinum (Implats) has concluded agreements to acquire a further 690 736 shares in fellow PGMs miner Royal Bafokeng Platinum (RBPlat), constituting about 0.24% of the RBPlat shares currently in issue.

Implats in November 2021 announced an offer to RBPlat shareholders to buy all RBPlat shares in issue for R150 a share, consisting of R60 in offer consideration shares and R90 in cash.

At the time, Implats’ offer represented a premium of 23% to RBPlat’s closing share price of R121.92 and a premium of 80% to RBPlat’s 30-day volume weighted average price of R83.51.

Following the latest agreement and consequent trades, Implats will hold 44.72% of the RBPlat shares in issue.

Key Words:

platinum Africa acquisition

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