Impala Platinum Holdings Limited - Implats lays gr12 Jun 2002
NEWS RELEASE                                                                    
12 June 2002                                                                    
Implats lays ground for share buy-back                                          
Further plans to unlock value for shareholders                                  
Impala Platinum Holdings Limited (Implats) today (12 June 2002) announced       
the company`s intention to seek shareholder approval for a general share buy-   
Says Implats CEO, Keith Rumble, "Although Implats has enjoyed a significant     
rerating in recent times, the Implats Board is continuing to seek further       
ways of unlocking value for shareholders. As a result, the Board will ask       
shareholders to approve the implementation of a general share buy-back as an    
initial step in this process.                                                   
"While the company has significant growth opportunities, Implats has a          
tremendous capacity to generate cash and the directors want to ensure that      
we deploy this cash in such a way that we enhance shareholder value. Our        
extensive discussions with both local and international shareholders have       
indicated that a share buy-back is one of the methods that they would prefer    
the company to use to deliver additional value to them."                        
"The large stake in Implats held by Gencor Limited has previously been an       
impediment to the company conducting a share buy-back as the directors did      
not wish to take any action which could have reduced the liquidity of the       
share. However, in the event of Gencor unbundling its shares in Implats, the    
liquidity of Implats` shares is expected to increase significantly, making a    
share buy-back, without reducing liquidity, possible.                           
"Not only will the share buy-back effectively support the company`s share       
price, but more particularly it will also underpin the share should             
additional liquidity come onto the market as a result of such corporate         
activity by Gencor."                                                            
Shareholders will be asked to vote in favour of a resolution in respect of      
the share buy-back at an Extraordinary General Meeting of the company to be     
held on 15 July 2002.                                                           
At the same time, shareholders will be asked to pass a resolution allowing      
the directors to issue shares for cash. Although there is no specific           
proposal to do so immediately, the company may find itself in a position in     
the future in which it will need to timeously fund an acquisition. South        
Africa`s foreign exchange regulations make it difficult for cash generated      
by the company in South Africa to be used for this purpose.                     
A circular to shareholders dealing with these issues will been posted in due    
For further information see the Implats website:                                                                                      
Queries :                                                                       
Cathie Markus                                                                   
(011) 481 3925 (Tel)                                                            
082 441 7166 (Cell)                                                             
Ticker symbols:                                                                 
JSE: Imp                                                                        
LSE: Impla                                                                      
ADRS: Impay                                                                     
Date: 12/06/2002 08:55:00 AM Produced by the SENS Department