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Results of Convertible Bond Offering
Impala Platinum Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1957/001979/06)
ISIN: ZAE000083648
JSE Share Code: IMP
ADR Code: IMPUY
(“Implats” or the “Company”)
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY,
IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND
DEPENDENCIES), AUSTRALIA, CANADA OR JAPAN. RELEASED IN SOUTH AFRICA
FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE A PUBLIC OFFER
IN SOUTH AFRICA
Results of Convertible Bond Offering
Implats is pleased to announce the result of its dual offering and the final terms of the senior
unsecured convertible bonds due 2018 (the "ZAR Bonds") and the senior unsecured
convertible bonds due 2018 (the "US$ Bonds" and together with the ZAR Bonds, the “Bonds”).
The ZAR 1,775 million ZAR Bonds have been allocated in full and the US$ 200 million
US$ Bonds have been allocated in full. The option to increase the ZAR Bonds has been
exercised in full such that a total of R2,672 million ZAR Bonds have been allocated.
The Bonds will be issued and redeemed at par and will carry a coupon of 5.00% per annum
for the ZAR Bonds and 1.00% per annum for the US$ Bonds. The ZAR Bonds’ initial
conversion price has been set at ZAR 214.9000 per share, a premium of 35% above the
volume weighted average price of the shares from launch to pricing while the US$ Bonds’
initial conversion price has been set at US$ 24.1300 per share, a premium of 35% above the
volume weighted average price of the shares from launch to pricing, converted at the
prevailing ZAR: US$ spot rate at the time of pricing.
The Company will have the option to call the Bonds at par plus accrued interest at any time
on or after 13 March 2016, if the aggregate value of the underlying shares per Bond for a
specified period of time is 130% or more of the principal amount of that Bond.
Implats shareholders will be requested to grant specific authority for the directors to issue
ordinary shares pursuant to the conversion rights which will attach to the Bonds.
It is expected that settlement of the Bonds will take place on or about Thursday, 21 February
2013. Implats intends to apply for admission of the ZAR Bonds to trade on the Main Board of
the JSE and the US$ Bonds to trade on a European stock exchange within 3 months
following settlement of the Bonds.
UBS Limited (“UBS”) is acting as Global Co-ordinator. The Standard Bank of South Africa
Limited (in connection with the offering of the ZAR Bonds) and Standard Bank Plc (in
connection with the offering of US$ Bonds) together with UBS are acting as Joint
Bookrunners. Basis Point Capital is acting as the local partner in connection with the offering
of the Bonds.
Johannesburg
15 February 2013
Sponsor: Deutsche Securities (SA) (Proprietary) Limited
Stabilisation/FSA.
This announcement is not for publication, distribution or release, directly or indirectly, in or
into the United States (including its territories and dependencies, any State of the United
States and the District of Columbia). The securities referred to herein have not been and will
not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"),
and may not be offered or sold in the United States without registration there under or
pursuant to an available exemption therefrom. Neither this announcement nor the information
contained herein constitutes or forms part of an offer to sell or the solicitation of an offer to
buy securities in the United States. There will be no public offer of the Bonds in the United
States or in any other jurisdiction.
In the United Kingdom this communication is directed only at those persons (i) who have
professional experience in matters relating to investments falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the
"Order") or (ii) who fall within Article 49(2)(A) to (D) of the Order, and (iii) to whom it may
otherwise lawfully be communicated.
This announcement is not intended to be nor is it an offer to the public for sale or subscription
of the Bonds as contemplated under Chapter 4 of the South African Companies Act, No.71 of
2008, as amended nor does it constitute an offer for subscription, sale or purchase of the
US$ Bonds to any South African resident persons or company or any non-South African
company which is a subsidiary of a South African company. A South African resident person
or company or any non-South African company which is a subsidiary of a South African
company is not permitted to acquire the US$ Bonds unless such person has obtained
exchange control approval to do so.
This announcement is not an offer of securities or investments for sale nor a solicitation of an
offer to buy securities or investments in any jurisdiction where such offer or solicitation would
be unlawful.
Date: 15/02/2013 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
