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Update - extension of dates in relation to the Impala mandatory offer and update on Competition Tribunal proceedings
ROYAL BAFOKENG PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2008/015696/06)
JSE share code: RBP ISIN: ZAE000149936
(“RBPlat” or the “Company”)
ANNOUNCEMENT BY IMPALA PLATINUM HOLDINGS LIMITED (“IMPLATS”) REGARDING EXTENSION OF DATES IN
RELATION TO THE MANDATORY OFFER AND UPDATE IN RELATION TO COMPETITION TRIBUNAL PROCEEDINGS
Shareholders of RBPlat are referred to the SENS announcement released by Implats on Friday, 27 May 2022 (the
“Implats Announcement”) in relation to the mandatory offer by Implats to RBPlat shareholders (the “Mandatory
Offer”), the terms of which are set out in Implats’ offer circular posted on Monday, 17 January 2022 (the “Offer
Circular”), in which Implats notified RBPlat shareholders of the extension of certain relevant dates relating to the
Mandatory Offer as set out in the Offer Circular.
As referred to in the Implats Announcement, the Mandatory Offer remains conditional on Implats and RBPlat
obtaining all requisite approvals in terms of the Competition Act, No. 89 of 1998, as amended, for the
implementation of the Mandatory Offer. In this regard, shareholders are referred to the joint SENS announcement
released by Implats and RBPlat on 29 April 2022 regarding the positive recommendation of the South African
Competition Commission to the South African Competition Tribunal (“Competition Tribunal”).
Implats and RBPlat are currently progressing the proceedings before the Competition Tribunal and are in the
process of engaging with the Minister of Trade, Industry and Competition regarding the public interest
considerations applicable to the Mandatory Offer. In this respect, RBPlat was informed on 18 May 2022 that
Northam Platinum Holdings Limited (“Northam”) intends making an application to intervene in the proceedings
before the Competition Tribunal.
As a consequence of Northam’s application to intervene in the proceedings, Implats have announced in the
Implats Announcement that the fulfilment of the relevant condition in the Offer Circular relating to competition
approval will be delayed beyond the initially contemplated date for fulfilment. Accordingly, Implats has
extended the date set for fulfilment or waiver of the conditions precedent applicable to the Mandatory Offer
(i.e. the “Longstop Date” as defined in the Offer Circular) to 8 August 2022, and has amended the dates set out
in the table of important dates and times appearing on page 8 of the Offer Circular.
The important dates and times in relation to the Mandatory Offer, as amended, are set out in the Implats
Announcement and should be considered together with the Offer Circular.
Implats has also confirmed that it reserves the right to further extend the date set for fulfilment or waiver of the
conditions precedent applicable to the Mandatory Offer on the basis set out in the Offer Circular, in which event
a further announcement will be made.
RESPONSIBILITY STATEMENT
The independent board of RBPlat (“Independent Board”), individually and collectively, accepts responsibility for
the accuracy of the information contained in this announcement which relates to RBPlat, and has placed -1–
reliance on the information pertaining to Implats as presented by Implats in the Implats Announcement. To the
best of the Independent Board’s knowledge and belief, the information contained in this announcement is true
and nothing has been omitted which is likely to affect the importance of such information.
Johannesburg
27 May 2022
Lead Corporate & Financial Advisor and Transaction Sponsor to RBPlat
Questco Proprietary Limited
Financial Advisor and JSE Sponsor to RBPlat
Merrill Lynch South Africa Proprietary Limited t/a BofA Securities
Legal Advisor to RBPlat
Bowman Gilfillan Inc.
Queries:
Lindiwe Montshiwagae
Email: lindiwe@bafokengplatinum.co.za
Tel: +27 (0)10 590 4510
M: + 27 (0) 82 920 7803
Thandeka Mthembu
Email: thandekam@bafokengplatinum.co.za
Tel: +27 (0) 10 590 4510
M: +27 (0) 72 674 9601
Date: 27-05-2022 09:30:00
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