IMP
IMPO
IMP - Implats - African Platinum Plc - Scheme of Arrangement Update
Impala Platinum Holdings Limited
("Implats")
(Incorporated in the Republic of South Africa)
Registration No. 1957/001979/06)
ISIN: ZAE000083648
JSE Share Code: IMP
LSE Share Code: IPLA
ADR Code: IMPUY
FOR IMMEDIATE RELEASE
Not for release, publication or distribution, in whole or in part, in or
into Canada, Australia or Japan or any other jurisdiction where to do so
would constitute a violation of the relevant laws of such jurisdiction.
Further to the announcement published on SENS on 25 April 2007,
shareholders are advised herewith of the announcement made by African
Platinum plc ("Afplats") in respect of the sanctioning by the Court of the
Scheme of Arrangement.
Enquiries to:
Implats
David Brown Tel. +27 11 731 9042
Brenda Berlin Tel. +27 11 731 9023
Morgan Stanley & Co Limited (joint financial adviser to Implats)
Beth Mandel (SA) Tel. +27 11 507 0800
Peter Bacchus (UK) Tel. +44 207 425 8000
Laurence Hopkins (UK) Tel. +44 207 425 8000
Sansara Financial Services (Pty) Limited (joint financial adviser to
Implats)
Sean Chilvers Tel. +27 11 718 2307
African Platinum plc - Scheme of Arrangement
African Platinum plc
10 May 2007
AFRICAN PLATINUM PLC
10 May 2007
Recommended Cash Acquisition
of
African Platinum plc
by
Impala Platinum Holdings Limited
Scheme of Arrangement Update
African Platinum plc (the "Company") announces that, at a hearing held
earlier today, the Court sanctioned the Scheme of Arrangement by which the
recommended acquisition of the Company by Impala Platinum Holdings Limited
is to be effected and confirmed the associated reduction of capital.
It is expected that the Court Order will be delivered to and registered
with the Registrar of Companies, and the Scheme will become effective, on
14 May 2007.
The last day of dealings in Afplats Shares will be 11 May 2007. The
Company will request that the trading in the Afplats Shares on AIM be
cancelled with effect from 7:30am on 14 May 2007.
It is expected that the consideration payable to the Company`s former
Shareholders will be despatched by 28 May 2007.
Terms used in this announcement have the same meanings as set out in the
Scheme Document dated 16 March 2007.
Enquiries:
African Platinum plc
Roy Pitchford Tel. +44 207 389 0500
Russell Lamming Tel. +27 11 467 1858
Website: www.afplats.com
JP Morgan Cazenove Limited (sole financial adviser and corporate broker to
the Company)
Ian Hannam Tel. +44 207 588 2828
Patrick Magee Tel. +44 207 588 2828
Adam Brett Tel. +44 207 588 2828
JPMorgan Cazenove Limited, which is authorised and regulated by the
Financial Services Authority in the United Kingdom, is acting as financial
adviser and broker to the Company in relation to the Proposals and no one
else in connection with the Proposals and will not be responsible to anyone
other than the Company for providing the protections afforded to clients of
JPMorgan Cazenove Limited nor for providing advice in relation to the
Proposals or any other matter or arrangement referred to in this
announcement.
The Directors accept responsibility for the information contained in this
announcement. To the best of the knowledge and belief of the Directors
(who have taken all reasonable care to ensure that such is the case), the
information contained in this announcement is in accordance with the facts
and does not omit anything likely to affect the import of such information.
-end-
Date: 10/05/2007 13:11:19 Produced by the JSE SENS Department. |