Implats committed to giving RBPlat shareholders unconditional offer
JSE-listed Impala Platinum (Implats) says in a statement that it continues to take all necessary and reasonable steps within its power and control to ensure Royal Bafokeng Platinum (RBPlat) shareholders receive a wholly unconditional offer.
Implats notes that it continues to engage with the Takeover Regulation Panel (TRP) constructively in this regard.
This relates to Implats’ offer to the holders of issued ordinary shares in RBPlat as set out in Implats’ offer circular dated January 17, 2022.
During December, Northam Platinum Holdings and companies associated with it published announcements that purported to indicate its firm intention to make an offer to RBPlat shareholders for RBPlat shares not yet owned by Northam.
As previously communicated in Implats’ announcement of December 15, Implats lodged a complaint with the TRP relating thereto which, in the words of the TRP “raises serious questions of law and fact that simply could not be ignored”, and which led to the TRP in December requiring Northam to make further announcements.
The TRP also required Implats to make its latest announcement, which was published on January 11.
Implats says it is reminding RBPlat shareholders that the TRP Compliance Certificate, and JSE approval for the listing of the offer consideration shares, remain the only conditions precedent outstanding to declaring its offer unconditional.
Implats says it will make further announcements once it has more information about the status and timing of its offer.
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