ROYAL BAFOKENG PLATINUM LIMITED - Conclusion of agreements in respect of the acquisition of Maseve Investments 11 (Pty) Ltd's plant and equity

Conclusion of agreements in respect of the acquisition of Maseve Investments 11 (Pty) Ltd's plant and equity

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”)

CONCLUSION OF AGREEMENTS IN RESPECT OF THE ACQUISITION BY RBPLAT OF MASEVE
INVESTMENTS 11 (PTY) LTD’S PLANT AND EQUITY

Shareholders are referred to the announcement released by the Company on SENS on
6 September 2017 (“Terms Announcement”), together with the circular posted to shareholders on
2 November 2017, in terms of which RBPlat advised shareholders that it had concluded a term sheet
with Platinum Group Metals (RSA) Proprietary Limited (“PTM (RSA)), pursuant to which RBPlat will,
subject to the fulfilment or, where possible, waiver, of certain conditions precedent, acquire–

 (i)    the concentrator plant and certain surface assets of Maseve Investments 11 Proprietary
        Limited (“Maseve”) for an aggregate consideration equal to the ZAR equivalent of
        USD58 million (the “Plant Transaction”); and

 (ii)   100% of the shares in and shareholder claims owing by Maseve for an aggregate purchase
        consideration equal to the ZAR equivalent of USD12 million (the “Share Transaction”),

(collectively, the “Proposed Transaction”).

The board of directors of RBPlat is pleased to advise shareholders that, following the completion by
RBPlat of its due diligence investigations into Maseve, binding legal agreements in respect of the
Proposed Transaction have now been entered into between RBPlat, Maseve and PTM (RSA).
Implementation of the Plant Transaction remains subject to the fulfilment or, where possible, waiver
of certain conditions precedent, including RBPlat shareholder approval for the related capital raising
at a meeting scheduled for 30 November 2017 and the approval of the South African Competition
Commission.

Implementation of the Share Transaction remains subject to the fulfilment or, where possible, waiver
of certain conditions precedent, including implementation of the Plant Transaction, the approval of
the South African Department of Mineral Resources and the implementation of a scheme of
arrangement pursuant to which RBPlat acquires 100% of the shares in Maseve.

                                                                                                  
Johannesburg
23 November 2017


Corporate advisor and transaction sponsor
Questco (Pty) Ltd

Legal advisor
Bowmans

JSE sponsor
Merrill Lynch South Africa (Pty) Ltd



For further information, please contact:

Lindiwe Montshiwagae
Executive: Investor Relations
Tel: +27 (0)10 590 4517
Email: lindiwe@bafokengplatinum.co.za





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