Northam Holdings has sold the remaining 2.5 million Implats shares on the open market for approximately R251.1 million ($13.45 million).
It was stated that the total cash consideration obtained from the sale of the Share Consideration amounted to R3.1 billion ($166 million), indicating an average volume-weighted price of R103.95 ($5.57) per Implats Share.
The platinum miner earlier sold 27,541,147 of its 30,065,866 Implats shares.
Northam and Implats fought bitterly to acquire Royal Bafokeng Platinum (RBPlat).
In July, however, Northam withdrew from the bidding process after Implats acquired the controlling stake in RBPlat.
Currently, Implats holds a 98.73% interest in RBPlat.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
