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IMP - Impala Platinum Holdings Limited - Mimosa Indigenisation Update

Release Date: 24/02/2012 07:06
Code(s): IMP
Wrap Text

IMP - Impala Platinum Holdings Limited - Mimosa Indigenisation Update Impala Platinum Holdings Limited (Incorporated in the Republic of South Africa) (Registration No. 1957/001979/06) ISIN: ZAE000083648 JSE Share Code: IMP LSE Share Code: IPLA ADR Code: IMPUY ("Implats") Mimosa Indigenisation Update Further to the Government of Zimbabwe`s requirement to submit an Indigenisation Implementation Plan ("IIP"), Mimosa Holdings (Private) Limited ("Mimosa"), a 50% subsidiary of Implats, submitted its revised plan in November 2011. In a letter dated 22 February 2012, Mimosa was advised by the Zimbabwean Minister of Youth Development, Indigenisation and Empowerment ("the Minister") that a portion of its IIP has been rejected. Implats is concerned to note the statement by the Minister that unless an agreement is reached with the National Indigenisation and Economic Empowerment Fund ("NIEEF") to transfer the required shareholding to NIEEF within 30 days, enforcement mechanisms will be activated. Shareholders are advised that negotiations with the Minister will be undertaken in an attempt to reach a mutually acceptable solution. Shareholders will be informed of further material developments as they occur. 24 February 2012 Johannesburg Sponsor Deutsche Securities (SA) (Proprietary) Limited Date: 24/02/2012 07:06:08 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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