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 10 May 2007, shareholders
are advised herewith of the announcement made by African Platinum plc
("Afplats") in respect of the delisting of Afplats.
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
14 May 2007
AFRICAN PLATINUM PLC
For immediate release
14 May 2007
Recommended Cash Acquisition
of
African Platinum plc
by
Impala Platinum Holdings Limited
Cancellation of trading of securities on AIM
On 10 May 2007 African Platinum plc (the "Company") announced that, at a
hearing held on 10 May 2007, 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.
The Company is pleased to announce that the Court Order has been delivered
to and registered with the Registrar of Companies today and that,
accordingly, the Scheme has become effective.
At the request of the Company, the London Stock Exchange has cancelled
trading in the Afplats Shares from the Alternative Investment Market of the
London Stock Exchange with effect from 7.00 a.m. today.
In addition, the Company announces that David Hugh Brown and Dawn Earp will
be appointed as directors of African Platinum plc.
Terms defined in the Scheme Document have the same meanings in this
announcement.
Enquiries:
African Platinum plc
Roy Pitchford Tel. +44 207 389 0500
Russell Lamming Tel. +27 11 467 1858
Website: www.afplats.com
JPMorgan 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.
The distribution of this announcement in jurisdictions other than the
United Kingdom may be restricted by law and therefore any persons who are
subject to the law of any jurisdiction other than the United Kingdom should
inform themselves about, and observe, any applicable requirements. This
announcement has been prepared for the purpose of complying with English
law and the Code and the information disclosed may not be the same as that
which would have been disclosed if this announcement had been prepared in
accordance with the laws of jurisdictions outside the United Kingdom.
Notice to shareholders of the Company in the United States: the Proposals
relate to the shares of a company incorporated in England and Wales and are
proposed to be implemented by means of a scheme of arrangement provided for
under English company law. A transaction effected by means of a scheme of
arrangement is not subject to the tender offer rules under the United
States Securities Act of 1933, as amended. Accordingly, the Proposals are
subject to the disclosure requirements and practices applicable in England
and Wales to schemes of arrangement which differ from the disclosure
requirements of the tender offer rules under the United States Securities
Act of 1933, as amended. Financial information included in the relevant
documentation will have been prepared in accordance with accounting
standards applicable in the United Kingdom that may not be comparable to
the financial statements of companies in the United States.
-end-
Date: 14/05/2007 15:08:01 Produced by the JSE SENS Department. |