IMP - Implats - Impala Platinum Holdings Limited
Impala Platinum Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1957/001979/06)
JSE Share Code: IMP
LSE Share Code: IPLA
ADR Code: IMPUY
("Implats" or "the Company")
IMPLATS ADOPTS CASH PRESERVATION PROGRAMME
Given the current global financial crisis and economic downturn, the rapid
decline in platinum group metal prices coupled with lower cash receipts and the
increased volatility within the capital markets, Implats has suspended its share
buy-back programme. As at the 19th November 2008, the company had completed
18.6% of the programme amounting to 5 562 545 shares at a cost of R723.8
Cash preservation is the company`s major focus in the current environment and
both the board and management are reviewing capital expenditure plans,
additional cost saving initiatives and all projects including the Marula
Merensky and Afplats (Leeuwkop) projects. These projects amounted to R9.7
billion in our original five year R30 billion capital expenditure plan.
The company will keep the market informed of further developments.
20 November 2008
Issued by sponsor: Deutsche Securities (SA)(Proprietary) Limited
Date: 20/11/2008 16:05:01 Produced by the JSE SENS Department.
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