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Renewal of Cautionary Announcement
PLATFIELDS LIMITED
Incorporated in the Republic of South Africa
(Registration number 2002/005851/06)
Share code: PLL ISIN: ZAE000151825
(“the Company”)
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the previous cautionary announcements dated
30 May 2014, 2 June 2014, 11 July 2014, 22 August 2014, 6 October 2014,
17 November 2014, 2 January 2015, 13 February 2015, 27 March 2015 and 14 May
2015 respectively.
The company has been through a very difficult period, with attempts to secure
additional funding for the group being unsuccessful to date due, inter alia, the
difficult situation in the platinum industry. This has also impacted on potential
acquisitions, which the Company has been similarly unable to conclude thus far.
The company is expected to announce changes to its executive management
in due course.
Certain of the group’s prospecting rights have lapsed subsequent to the year
end and petitions have been made to the Minister of Mineral Resources for their
validity and security of tenure.
As previously announced, the Company has been approached by a third party
and continues with negotiations for the acquisition of substantial mining assets,
which, if successful, may result in a reverse listing, a change in control and in the
board as well as cash flow being injected into the group. Negotiations are
progressing well with the potential funding to regularise the compliance
requirements of the Company, in conjunction with signed agreements for the
acquisition of assets.
In addition, the Company is exploring the disposal of one of its subsidiaries for
cash.
Shareholders will be kept appraised of developments in due course.
Accordingly, shareholders are advised to continue to exercise caution when
dealing in the Company’s securities until a further announcement is made.
Johannesburg
25 June 2015
Sponsor
Arbor Capital Sponsors Proprietary Limited
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