AQP - Aquarius Platinum Limited - Update On Zimbabwean Indigenisation Process

AQP - Aquarius Platinum Limited - Update On Zimbabwean Indigenisation Process   
Aquarius Platinum Limited                                                       
(Incorporated in Bermuda)                                                       
Registration Number: EC26290                                                    
JSE Code: AQP                                                                   
ISIN: BMG0440M1284                                                              
UPDATE ON ZIMBABWEAN INDIGENISATION PROCESS                                     
Aquarius Platinum Limited ("Aquarius") advises that the Indigenisation          
Implementation Plan submitted to the Government of Zimbabwe in November 2011 by 
Mimosa Holdings (Private) Limited ("Mimosa"), an indirect 50% subsidiary of     
Aquarius, has been rejected.                                                    
In a letter dated 22 February 2012, Mimosa was advised by the Zimbabwean        
Minister of Youth Development, Indigenisation and Empowerment ("the Minister")  
that unless an agreement is reached with the Zimbabwean National Indigenisation 
and Economic Empowerment Fund (NIEEF) in respect of full compliance with the    
Zimbabwean Indigenisation and Empowerment legislation within 30 days from       
receipt of this letter, enforcement mechanisms will be activated.               
Aquarius is concerned to note the statement by the Minister and advises         
shareholders 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.                                 
For further information please contact:                                         
In the United Kingdom                                                           
Gavin Mackay                                                                    
+44 7909 547 042                                                                
In Australia:                   In South Africa:                                
Willi Boehm                     Stuart Murray                                   
+61 8 9367 5211                 +27 (0) 11 656 1140                             
24 February 2012                                                                
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 24/02/2012 09:00:51 Supplied by www.sharenet.co.za                     
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