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NHM - Northam Platinum Limited - Notice pursuant to section 45(5) of the

Release Date: 06/12/2011 08:30
Code(s): NHM
Wrap Text

NHM - Northam Platinum Limited - Notice pursuant to section 45(5) of the companies act no. 71 of 2008 NORTHAM PLATINUM LIMITED Incorporated in the Republic of South Africa (Registration number 1977/003282/06) Share code: NHM ISIN code: ZAE000030912 ("Northam" or "the company") NOTICE PURSUANT TO SECTION 45(5) OF THE COMPANIES ACT NO. 71 OF 2008 ("COMPANIES ACT") 1 This is a notice pursuant to section 45(5) of the Companies Act. 2 On 18 August 2011, Northam shareholders approved a special resolution pursuant to section 45 of the Companies Act authorising the board of directors ("the board") to provide direct and indirect financial assistance to a related or inter-related company. 3 Section 45(5) of the Companies Act requires a company to provide written notice to its shareholders, amongst others, of the adoption of a board resolution to provide financial assistance if the total value of all loans, debts, obligations or assistance contemplated in that resolution, together with any previous such resolution during the same financial year, exceeds one-tenth of 1% of the company`s net worth at the time of the resolution. 4 The board has adopted the following resolutions: - an undertaking in favour of Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden NV ("FMO") and Norplats Properties (Proprietary) Limited ("Norplats Props"), a subsidiary of Northam, in terms of which the company has undertaken to provide sufficient funding of up to R80 million (eighty million rand) to Norplats Props to enable it to fulfil its obligations to FMO in terms of the Mojuteng Housing Project; and - to provide financial assistance of up to R1 billion (one billion rand) for a (five) year senior unsecured revolving credit facility to be provided by Nedbank Limited to Khumama Platinum (Proprietary) Limited and Micawber 278 (Proprietary) Limited, both subsidiaries of Northam. 5 The facilities referred to in paragraph 4 will further strengthen Northam`s balance sheet and support its key strategic initiatives, which include the provision of housing for its Zondereinde mine employees (Mojuteng Housing Project) and the development of its Booysendal mine. 6 This notice is provided because the value of the financial assistance referred to in paragraph 4 exceeds the threshold stated in paragraph 3. Johannesburg 6 December 2011 Sponsor One Capital Date: 06/12/2011 08:30:01 Supplied by www.sharenet.co.za 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 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 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.

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