IMP IMCB22 201908010020A
Issue of ordinary shares on the exercise of conversion rights and reduction in outstanding bonds
IMPALA PLATINUM HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1957/001979/06)
JSE Share code: IMP
ADR code: IMPUY
JSE 2022 Convertible Bond ISIN: ZAE000247458
JSE 2022 Convertible Bond Code: IMCB22
FSE 2022 Convertible Bond ISIN: XS1623614572
FSE 2022 Convertible Bond Code: 162361457
NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN
OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED
BY APPLICABLE LAW. NOT FOR DISTRIBUTION TO ANY PERSON LOCATED OR
RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS
ISSUE OF ORDINARY SHARES ON THE EXERCISE OF CONVERSION RIGHTS AND
REDUCTION IN OUTSTANDING BONDS
On 24 July 2019, Implats announced that, in total, 64,204,365 ordinary shares in Implats
("Ordinary Shares") were expected to be issued by Implats as a result of the conversion of 99.9
per cent of its U.S.$250,000,000 3.25 per cent. convertible bonds due 2022 (the "Bonds").
Implats hereby announces that the expected conversion of the Bonds has taken place and the
new 64,204,365 Ordinary Shares have been issued and admitted to trading on the Main Board of
the Johannesburg Stock Exchange's Equity Market with effect from 1 August 2019.
The issued new Ordinary Shares rank pari passu in all respects with the existing Ordinary Shares.
Following the issue of the new Ordinary Shares, Implats' enlarged issued share capital comprises
798,982,743 Ordinary Shares. As at the date hereof, Implats holds 16,233,994 Ordinary Shares
U.S.$200,000 (representing less than 0.1 per cent. of the aggregate principal amount) of the
Bonds originally issued remains outstanding. As 15 per cent. or less of the aggregate principal
amount of the Bonds remains outstanding, Implats intends to elect to exercise its option to redeem
such Bonds in accordance with the terms and conditions of the Bonds. A separate announcement
will be made regarding such redemption.
Morgan Stanley & Co. International
Conversion Agent and Payment Agent
The Bank of New York Mellon, London Branch
Financial Adviser to Implats
Macquarie Advisory and Capital Markets South Africa
Sponsor to Implats
Nedbank Corporate and Investment Banking
1 August 2019
THE DISTRIBUTION OF THIS PRESS RELEASE IN CERTAIN JURISDICTIONS MAY BE RESTRICTED
BY LAW. PERSONS INTO WHOSE POSSESSION THIS PRESS RELEASE COMES ARE REQUIRED BY
EACH OF IMPLATS AND THE DEALER MANAGER AND THE BANK OF NEW YORK MELLON, LONDON
BRANCH (THE "AGENT") TO INFORM THEMSELVES ABOUT, AND TO OBSERVE, ANY SUCH
RESTRICTIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR BUY OR
A SOLICITATION OF AN OFFER TO SELL OR BUY THE BONDS OR ANY OTHER SECURITIES.
THIS PRESS RELEASE IS DIRECTED EXCLUSIVELY TO MARKET PROFESSIONALS AND
INSTITUTIONAL INVESTORS AND IS FOR INFORMATION PURPOSES ONLY AND IS NOT TO BE
RELIED UPON IN SUBSTITUTION FOR THE EXERCISE OF INDEPENDENT JUDGEMENT. IT IS NOT
INTENDED AS INVESTMENT ADVICE AND UNDER NO CIRCUMSTANCES IS IT TO BE USED OR
CONSIDERED AS AN OFFER TO BUY ANY BOND NOR IS IT A RECOMMENDATION TO BUY OR SELL
NONE OF THE DEALER MANAGER, THE AGENT NOR ANY OF THEIR RESPECTIVE AFFILIATES
ACCEPT ANY LIABILITY ARISING FROM THE USE OF, OR MAKES ANY REPRESENTATION AS TO
THE ACCURACY OR COMPLETENESS OF, THIS PRESS RELEASE OR IMPLATS' PUBLICLY
THE DEALER MANAGER AND THE AGENT ARE ACTING ON BEHALF OF IMPLATS AND NO ONE
ELSE IN CONNECTION WITH THE INVITATION AND WILL NOT BE RESPONSIBLE TO ANY OTHER
PERSON FOR PROVIDING THE PROTECTIONS AFFORDED TO CLIENTS OF THE DEALER MANAGER
OR THE AGENT, OR FOR PROVIDING ADVICE IN RELATION TO THE INVITATION. NEITHER THE
DEALER MANAGER NOR THE AGENT OWES ANY DUTY TO ANY HOLDER OF THE BONDS.
Date: 01/08/2019 08:00:00
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