Royal Bafokeng Platinum (RBPlat) is "highly concerned" about continuous delays in the conclusion of the acquisition bid made by Impala Platinum (Implats) in January last year.
The platinum group metals miner said the delays had effectively kept the company under offer for over a year and a half, which has been a huge drain on management time.
This also harmed the company's ability to pursue strategic initiatives.
Northam Platinum, a platinum miner, objected to the acquisition, claiming that certain conditions surrounding the required offer rendered it in violation of competition regulations.
It further presented its acquisition proposal, which was later dropped early this month, paving the way for Implats.
RBPlat stated that it feels it is in the best interests of its shareholders for the firm to take all required efforts to resolve any remaining concerns as soon as feasible for the Takeover Regulation Panel (TRP) to grant the Compliance Certificate.
This will allow Implats to complete and implement the obligatory offer.
Implats requested last November that the TRP award it with a compliance certificate.
TRP, however, stated that Northam's remaining objections regarding the alleged violation by RBPlat with the Companies Act and the Companies Regulations needed to be rectified first.
Implats then filed an appeal on March 21 with the Takeover Special Committee (TSC) against the TRP's decision, which was dismissed.
As a result, the TRP's original judgement continues, and the TRP will only give a compliance certificate to Implats if the issues are handled.
Implats has since announced that the longstop date for fulfilling or waiving the requirements antecedent, as well as the offer's closing date, would be extended to May 31.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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