IMP - Impala Platinum Holdings Limited - Zimbabwean Indigenisation and
Economic Empowerment Legislation
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
ZIMBABWEAN INDIGENISATION AND ECONOMIC EMPOWERMENT LEGISLATION
Implats confirms that its Zimbabwean subsidiary, Zimbabwe Platinum Mines
(Pvt) Limited ("Zimbabwe Platinum Mines"), and its joint venture, Mimosa
Platinum (Pvt) Limited ("Mimosa Platinum") (collectively "the Companies")
received letters dated 17 August 2011 from the Zimbabwean Minister of Youth
Development, Indigenisation and Empowerment (the "Minister") informing the
Companies that their Indigenisation Plans had been rejected. Zimbabwe
Platinum Mines has been given 14(fourteen) days to provide the Minister with
reasons as to why its business operation licence should not be cancelled,
whereas Mimosa Platinum has been given 14 (fourteen) days to submit a
revised Indigenisation Plan.
Discussions between management and the relevant authorities in this regard
are on-going and shareholders will be advised of any future developments.
Shareholders should note that several other companies from the mining,
financial and industrial sectors, have received similar letters to the ones
received by the Companies.
23 August 2011
Issued by Sponsor: Deutsche Securities (SA) (Proprietary) Limited
Date: 23/08/2011 12:30:01 Produced by the JSE SENS Department.
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