IMP,IMCB22 : Update on the category 2 transaction announcement: Implats concludes acquisition of North American Palladium:
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
UPDATE ON THE CATEGORY 2 TRANSACTION ANNOUNCEMENT: IMPLATS CONCLUDES
ACQUISITION OF NORTH AMERICAN PALLADIUM
Shareholders are referred to the announcement released on SENS on 7 October 2019 (the
"Announcement") and subsequent update announcement released on SENS on 26 November
2019 relating to the acquisition by Impala Platinum Holdings Limited of 100% of the outstanding
shares in North American Palladium Limited (TSX: PDL, OTC: PALDF) ("NAP") for cash
consideration of C$1,008 million (US$758 million1 or R11,396 million1).
Capitalised terms used but not otherwise defined in this announcement have the meaning
ascribed to them in the Announcement.
Implats is pleased to advise shareholders that all conditions precedent to the Arrangement
Agreement have been fulfilled. Accordingly, the Transaction closed today, Friday 13 December
As part of the closing process, NAP amalgamated with Implats' wholly owned Canadian subsidiary,
11638050 Canada Inc. and NAP's wholly owned subsidiary Lac Des Iles Mines Ltd. to form Impala
Canada Ltd. ("Impala Canada"). Impala Canada is now a wholly owned subsidiary of Implats. The
former Chief Financial Officer of NAP, Tim Hill, has been appointed Chief Executive Officer of
Impala Canada. The NAP corporate office in Toronto will become the regional office for Implats,
and NAP's finance and exploration offices will remain in Thunder Bay, Ontario.
NAP's common shares are expected to be delisted from the Toronto Stock Exchange on or about
16 December 2019 and NAP intends to promptly apply to cease being a reporting issuer in each
of the provinces and territories of Canada.
Friday, 13 December 2019
South African & Canadian Financial Advisors to Implats
Macquarie Advisory and Capital Markets South Africa Proprietary Limited
Macquarie Capital Markets Canada Limited
South African, U.K., U.S., Canadian & German Legal Advisors to Implats
Sponsor to Implats
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
T: +27 (0) 11 731 9013/43
M: +27 (0) 82 809 0166
T: +27 (0) 21 794 8345
M: +27 (0) 82 415 3770
T: +27 (0) 11 731 9033/43
M: +27 (0) 82 498 3608
1. Assumes USD:CAD of 1.33 and USD:ZAR of 15.03 as at 4 October 2019. Based on 58.8 million NAP
common shares in issue and 1.3 million in-the-money options.
Date: 13-12-2019 04:30:00
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