IMP - Impala Platinum Holdings Limited - Mimosa Indigenisation Update
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
Mimosa Indigenisation Update
Further to the Government of Zimbabwe`s requirement to submit an Indigenisation
Implementation Plan ("IIP"), Mimosa Holdings (Private) Limited ("Mimosa"), a 50%
subsidiary of Implats, submitted its revised plan in November 2011.
In a letter dated 22 February 2012, Mimosa was advised by the Zimbabwean
Minister of Youth Development, Indigenisation and Empowerment ("the Minister")
that a portion of its IIP has been rejected.
Implats is concerned to note the statement by the Minister that unless an
agreement is reached with the National Indigenisation and Economic Empowerment
Fund ("NIEEF") to transfer the required shareholding to NIEEF within 30 days,
enforcement mechanisms will be activated.
Shareholders are advised that negotiations with the Minister will be undertaken
in an attempt to reach a mutually acceptable solution. Shareholders will be
informed of further material developments as they occur.
24 February 2012
Deutsche Securities (SA) (Proprietary) Limited
Date: 24/02/2012 07:06:08 Produced by the JSE SENS Department.
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