Wrap Text
Approval of Prospectus in connection with intended listing on the Main Market of the London
Stock Exchange
Tharisa plc
(Incorporated in the Republic of Cyprus with limited
liability) (Registration number HE223412)
JSE share code: THA
LSE share code: THS
ISIN: CY0103562118
('Tharisa' or ‘the Company’)
Not for publication, distribution or release in or into the United States of America, Canada,
Australia or Japan or any other jurisdiction in which publication or distribution would be unlawful.
This announcement is an advertisement and not a prospectus and investors should not purchase
any shares referred to in this announcement except on the basis of information in the prospectus
(the ‘Prospectus’) published by Tharisa plc in connection with the admission of its ordinary shares
to the Official List of the UK Listing Authority, by way of a standard listing, and to trading on the
London Stock Exchange Plc’s main market for listed securities.
Approval of Prospectus in connection with intended listing on the Main Market of the London
Stock Exchange
Tharisa, the platinum group metals and chrome co-producer, today announces its intention to apply
for admission of 255 891 886 ordinary shares (‘Shares’) of nominal value US$0.001 each to the
standard listing segment of the Official List of the FCA (the ’Official List’) and to trading on the main
market for listed securities of the London Stock Exchange (together ’Admission’). It is expected that
Admission will occur on or about 8 June 2016.
The Admission seeks to increase Tharisa’s international profile and improve trading liquidity by
facilitating the participation of UK and European investors in the Company. The primary listing of the
Company will remain the Johannesburg Stock Exchange (‘JSE’) and the Shares will continue to trade
on the JSE. Tharisa’s Shares or depository interests representing Shares will be transferable between
the two markets. Investors wishing to transfer Shares from one register to another are advised to
consult their broker or custodian for advice on the process of transferring Shares and the associated
risks and cost. The broker or custodian will ensure that account custodial arrangements are
sufficient to execute the transfer of Shares and will communicate transfer instructions to the
relevant parties. The Company will not action any part of the Share transfer process – the Share
transfer mechanism will be managed through the South African and UK clearing and settlement
systems. South African residents may not expatriate their Shares from the South African register to
the UK register without the necessary exchange control approvals in place. The Company is not
raising funds through the issuance of new Shares in conjunction with the Admission.
Phoevos Pouroulis, Chief Executive Officer of Tharisa said:
“Our decision to list on the main market of the London Stock Exchange, one of Europe’s premier stock
exchanges, represents an important milestone for the Company in raising our international profile
and opening up access to a wider pool of investors and improving trading liquidity. We look forward
to building support for Tharisa among the UK and European investment community.”
In connection with the Admission, the Cyprus Securities and Exchange Commission (the
‘Commission’) approved the Prospectus on 2 June 2016 which has been drawn up in accordance
with the provisions of the Cyprus Public Offer and Prospectus Law 114(?)/2005, as amended, which
provides for the harmonisation of “Directive 2003/71/EC of the European Parliament and of the
Council of 4 November 2003, as amended and on the contents of a prospectus to be published when
securities are offered to the public or admitted to trading on a regulated market.
Copies of the Prospectus will be available:
- On the website of the Cyprus Securities and Exchange Commission atwww.cysec.gov.cy;
- On the Company’s website at www.tharisa.com;
- On the National Storage Mechanism at www.morningstar.co.uk/uk/NSM;
- On the website of the underwriter responsible for the preparation of the Prospectus,
Sharelink Securities & Financial Services Ltd at www.sharelinksecurities.com; and
- In hard copy, during regular business hours from the date of publication of this Prospectus
throughout the validity period of this Prospectus at the offices of the Company’s United
Kingdom legal advisors, Memery Crystal LLP, at 44 Southampton Buildings, London WC2A 1AP,
United Kingdom.
Sharelink Securities and Financial Services Limited is acting as underwriter responsible for the
drawing up of the Prospectus.
Arlington Group Asset Management Limited is acting as financial adviser to the Company in
connection with Admission.
By order of the Board
Paphos, Cyprus
3 June 2016
JSE Sponsor
Investec Bank Limited
For further information contact:
Tharisa Plc ir@tharisa.com
Sherilee Lakmidas +27 11 996 3538
Arlington Group Asset Management Ltd +44 207 389 5016
Richard Greenfield
About Tharisa
Tharisa is an integrated resources group incorporating mining, processing, beneficiation, marketing,
sales and logistics of platinum group metals (‘PGMs’) and chrome concentrates. The Company’s
primary asset, the Tharisa Mine, which is located on the southwestern limb of South Africa’s
Bushveld Complex, has an estimated open pit life-of-mine of approximately 20 years, and a further
estimated underground life of mine of approximately 40 years.
The Tharisa Mine’s processing facilities comprise the Genesis Plant and the Voyager Plant, both PGM
and chrome concentrators, with a design capacity for processing a total of 400 ktpm of ROM ore. In
the financial year ended 30 September 2015 the Tharisa Mine produced PGM concentrates
containing 118 koz of 6E concentrate and chrome concentrates of 1.1 Mt including 112 kt of higher
value specialised chrome products, generating a consolidated EBITDA for Tharisa of US$29.0 million
and a profit before tax of US$9.6 million.
The quarter ended 31 March 2016 saw the Group record improvements in a number of key areas,
including reef mined exceeding the steady state required run rate of 4.8 Mtpa, mill throughput
performing at nameplate design capacity of 400 ktpm and contained PGM production on a 6E basis
meeting the steady state production level of 144 koz (all on an annualised basis).
Following a period of weak commodity prices subsequent to the end of FY2015, both chrome
concentrate prices and demand have recorded a recovery during Q3 FY2016 as demand returns to
previous levels with current transaction prices at approximately US$145 per tonne versus an average
of US$106 per tonne for H1 FY2016.
Date: 03/06/2016 08:30:00 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
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.
Sharenet Sites 
