IMP MVL NHM
IMPO MVL NHM
MVL/NHM/IMP - Mvela Resources/Northam/Implats - Withdrawal of cautionary
announcement regarding the following proposed inter-conditional transactions
Mvelaphanda Resources Limited
( Reg No 1980/001395/06)
(Incorporated in the Republic of South Africa)
JSE Share Code : MVL
ISIN Code : ZAE000050266
("Mvela Resources")
Northam Platinum Limited
(Reg No 1977/003282/06)
(Incorporated in the Republic of South Africa)
JSE Share Code : NHM
ISIN Code : ZAE000030912
("Northam")
Impala Platinum Holdings Limited
(Reg No 1957/001979/06)
(Incorporated in the Republic of South Africa)
JSE Share Code : IMP
ISIN Code : ZAE000083648
("Implats"or "the company")
WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT REGARDING THE FOLLOWING PROPOSED INTER-
CONDITIONAL TRANSACTIONS:
THE UNBUNDLING BY MVELA RESOURCES OF ITS ENTIRE SHAREHOLDING IN NORTHAM TO ITS
SHAREHOLDERS;
THE ACQUISITION BY IMPLATS OF THE ENTIRE ISSUED SHARE CAPITAL OF NORTHAM; AND
THE ACQUISITION BY IMPLATS OF THE ENTIRE SHARE CAPITAL OF MVELA RESOURCES, POST
THE UNBUNDLING OF NORTHAM
Shareholders of Mvela Resources, Northam and Implats ("Shareholders") are
referred to the joint announcements by Mvela Resources, Northam and Implats
(`the Parties") dated 2 October 2008, 19 November 2008 and 7 January 2009 and to
the announcements by Mvela Resources and Northam dated 20 October 2008 and 27
October 2008, regarding the proposed acquisition by Implats of the entire issued
share capital of Mvela Resources and Northam through a series of inter-
conditional transactions (the " Proposed Transaction").
Shareholders are advised that due to the current global economic climate as well
as the ongoing volatility in commodity and equity prices, the Parties have not
been able to agree on exchange ratios for the implementation of the Proposed
Transaction. Negotiations have therefore been terminated. Although the near-
term outlook for the platinum sector remains challenging, the Parties continue
to believe in the long-term fundamentals of the industry.
Shareholders of Mvela Resources, Northam and Implats are advised that the
cautionary announcement published on 19 November 2008 has been withdrawn and
that they are no longer required to exercise caution in their share dealings.
Johannesburg
14 January 2009
Financial advisors to Implats
Morgan Stanley South Africa (Pty) Limited
Legal advisors to Implats
Bell Dewar Inc.
Financial advisors to Mvela Resources
JP Morgan Chase Bank N.A. (Johannesburg branch) and N M Rothschild & Son South
Africa (Pty) Limited
Legal advisors to Mvela Resources
Bowman Gilfillan
Independent Expert Advisor to Northam and Mvela Resources
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Legal advisors to Northam
Brink Cohen Le Roux Inc.
Sponsor to Implats
Deutsche Securities (SA) (Pty) Limited
Sponsor to Mvela Resources
JP Morgan Equities
Sponsor to Northam
Barnard Jacobs Mellet Corporate Finance (Pty) Limited
Date: 14/01/2009 12:15:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS. |