ROYAL BAFOKENG PLATINUM LIMITED - Receipt of section 11 approval in respect of the Maseve Share Transaction

Receipt of section 11 approval in respect of the Maseve Share Transaction

ROYAL BAFOKENG PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2008/015696/06)
JSE share code: RBP
ISIN: ZAE000149936
Company code: RBPD
Bond code: RBPCB
ISIN: ZAE000243853
(“RBPlat” or the “Company”)

RECEIPT OF SECTION 11 APPROVAL IN RESPECT OF THE MASEVE SHARE TRANSACTION

Shareholders/bondholders of RBPlat (“Security Holders”) are referred to various announcements
released by the Company on the Securities Exchange News Service, including the full terms
announcement dated 6 September 2017 in terms of which RBPlat advised that it had concluded
agreements with Platinum Group Metals (RSA) Proprietary Limited (“PTM (RSA)”), pursuant to which:

 (i)    Royal Bafokeng Resources Proprietary Limited (“RBR”), a wholly-owned subsidiary of the
        Company, will, subject to the fulfilment or, where possible, waiver, of certain conditions
        precedent, acquire the concentrator plant and certain surface assets (the “Plant Assets”) of
        Maseve Investments 11 Proprietary Limited (“Maseve”) for an aggregate consideration equal
        to the ZAR equivalent of USD58 million (the “Plant Consideration”) (the “Plant Transaction”);
        and
 (ii)   RBPlat will, subject to the fulfilment or, where possible, waiver, of certain conditions
        precedent, acquire 100% of the shares in and shareholder claims owing by Maseve for an
        aggregate consideration equal to the ZAR equivalent of USD12 million (the “Share
        Transaction”).

In an announcement released on 6 April 2018, Security Holders were advised that all surface rights
relating to the Plant Transaction have now been transferred into the name of RBR at the deeds office
and accordingly, RBR has settled the Plant Consideration and taken ownership of the Plant Assets.

The board of directors of RBPlat (the “Board”) is pleased to advise Security Holders that the
Department of Mineral Resources (“DMR”) has now granted its approval to the Share Transaction,
under section 11 of the Mineral and Petroleum Resources Development Act, and accordingly the
Company confirms that all conditions precedent to the Share Transaction have now been met.

The Board commends and appreciates the timely approval received from the DMR which is supportive
of RBPlat preserving jobs at its operations and extracting synergies from the combined asset base.
The consideration in respect of the Share Transaction, comprising an aggregate of 4 871 335 RBPlat
shares at an issue price of R31.74 per share, will be issued to PTM (RSA) and Africa Wide Mineral
Prospecting and Exploration Proprietary Limited in the appropriate proportions and listed on the JSE
in due course.


Johannesburg
20 April 2018

                                                                                                  
Corporate advisor and transaction sponsor
Questco (Pty) Ltd


Legal advisor
Bowmans


JSE sponsor
Merrill Lynch South Africa (Pty) Ltd


JSE debt sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)


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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