Platinum group metals (PGMs) miner Royal Bafokeng Platinum (RBPlat) has advised its shareholders to accept Impala Platinum’s (Implats) mandatory offer to acquire their shares in RBPlat.
Implats revealed last December that it had acquired about 35.31% of RBPlat’s shares in issue.
It offered RBPlat shareholders R90 in cash and 0.3 of an Implats share for every RBPlat share held.
RBPlat board said the mandatory offer consideration was fair and reasonable after receiving the opinion from independent expert PSG Capital.
“Our role at RBPlat is to ensure that we continue to deliver value to shareholders. . . this has meant that we keep our eye on the ball as it relates to running our operations efficiently and safely while the independent board has focused on the transaction,” said RBPlat chief executive Steve Phiri.
“The fairness opinion and the recommendation of the board provides our shareholders with the comfort that Implats has put on the table a fair offer for their consideration.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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