NORTHAM PLATINUM LIMITED - Part A acquisition of Everest becomes unconditional

Release Date: 23/04/2015 08:28
Code(s): NHM001 NHM NHMN
 
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Part A acquisition of Everest becomes unconditional

NORTHAM PLATINUM LIMITED
Incorporated in the Republic of South Africa
(Registration number 1977/003282/06)
JSE share code: NHM
ISIN code: ZAE000030912
Debt issuer code: NHMI
ISIN code: ZAG000099524
Letters of allocation share code: NHMN
Letters of allocation ISIN code: ZAE000203014
(“Northam”)

                     Part A acquisition of Everest becomes unconditional

    Northam shareholders are referred to the SENS announcement dated 10 February 2015, wherein
    Shareholders were advised that Northam had entered into a sale of assets agreement with Aquarius
    Platinum (South Africa) (Pty) Ltd to acquire the Everest Mining Assets and Everest Mining Right, for
    a total cash purchase consideration of R450 million, comprising R400 million for the Everest Mining
    Assets and R50 million for the Everest Mining Right.

    Northam is pleased to announce that all the Part A Conditions Precedent have been fulfilled, as a
    result of which the Part A Sale has become unconditional. The Part A sale will be implemented on
    26 June 2015, when Northam will acquire the Everest Mining Assets for a cash purchase
    consideration of R400 million.


    Paul Dunne, CEO of Northam, says, “The Part A completion gives Northam management early
    access to the Everest assets, and gives us the opportunity to start the integration process with the
    existing Booysendal operation. With the conclusion of this step we will be in a position to start
    extracting value and developing the new Booysendal South mine.”


    The Part B Sale, pursuant to which Northam will acquire the Everest Mining Right for a cash
    purchase consideration of R50 million, remains conditional on the Minister of Mineral Resources
    granting consent for the transfer of the Everest Mining Right to Northam in terms of section 11 of the
    Mineral and Petroleum Resources Development Act, No. 28 of 2002.


Johannesburg
23 April 2015


Corporate Advisor, Sponsor and Debt Sponsor: One Capital


Attorneys: Cliffe Dekker Hofmeyr Incorporated

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