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Launch of Convertible Bond Offerings
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NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE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
LAUNCH OF CONVERTIBLE BOND OFFERINGS
Implats announces the launch of a dual offering of ZAR 1,775 million (US$ 200 million) ZAR senior unsecured
convertible bonds due 2018 (the ZAR Bonds) and US$ 200 million US$ senior unsecured convertible bonds due
2018 (the US$ Bonds and together with the ZAR Bonds, the Bonds). The ZAR Bonds and US$ Bonds have an
option to be increased by an aggregate of up to US$ 100 million equivalent such that the combined offering
size will be up to US$ 500 million.
The Bonds will be issued at par and are expected to carry a coupon of between 5.00% and 5.50%
per annum for the ZAR Bonds and between 1.00% and 1.50% per annum for the US$ Bonds. The Bonds will,
subject to the approval of Implats shareholders, be convertible into ordinary shares of the Company
(the Shares). Prior to such approval Bondholders will on conversion receive a cash amount equal to the
value of the underlying Shares. The initial conversion prices are expected to be set at a premium of between
30% and 35% above the reference share price on the launch date. Implats 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.
The Bonds will be offered through an accelerated book-building process to qualifying institutional investors only.
This is not an offer to the public. The final terms of the Bonds will be announced after the pricing has been
determined.
Once the offerings have been settled, Implats shareholders will be requested to grant specific authority for the
directors to issue ordinary shares upon conversion of the Bonds.
Implats intends to use the net proceeds from the offering for general corporate purposes with a primary focus on
funding strategic projects in the Rustenburg Lease Area. The offering forms part of the Company's strategy to
maintain a strong financial position and secure the Companys funding given the current global economic and operating
environment in the mining sector in South Africa.
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 and 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) and UBS are acting
as Joint Bookrunners. Basis Point Capital is acting as the local partner in connection with the offering of the Bonds.
Johannesburg
14 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: 14/02/2013 08:05:00 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,
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