Royal Bafokeng Platinum Granted Compliance Certificate, Moves Closer to Unconditional Offer

Royal Bafokeng Platinum Limited (RBPlat) announced today that it has been granted a compliance certificate by the Takeover Regulation Panel. This certificate is in relation to the mandatory offer made by Impala Platinum Holdings Limited (Implats) to RBPlat shareholders.

The compliance certificate, issued under the provisions of the Companies Act, 2008 and the Companies Regulations, 2011, signifies an important milestone in the mandatory offer process. RBPlat is currently evaluating the offer made by Implats, and the compliance certificate brings the offer one step closer to becoming unconditional.

Implats made the mandatory offer to RBPlat shareholders as outlined in the offer circular that was posted on 17 January 2022. The compliance certificate is one of the two remaining Conditions Precedent required to declare the mandatory offer unconditional. The other condition is the approval from the Johannesburg Stock Exchange (JSE) for listing the Offer Consideration Shares. Implats has indicated that it will re-apply for JSE approval following the issuance of the compliance certificate.

Once the JSE approval is obtained, the mandatory offer will become wholly unconditional. Implats has committed to releasing a further announcement that will provide shareholders with important dates and times pertaining to the closing of the mandatory offer.