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ROYAL BAFOKENG PLATINUM LIMITED
Incorporated in the Republic of South Africa
Registration number 2008/015696/06
JSE share code: RBP ISIN: ZAE000149936
("RBPlat" or the "Company")
EXTENSION OF NOTICE DATE FOR DISPOSAL OF CONCENTRATE AGREEMENT
As shareholders are aware, the Company, through its wholly-owned subsidiary,
Royal Bafokeng Resources Proprietary Limited (“RBR”), is party to a Disposal of
Concentrate Agreement with Rustenburg Platinum Mines Limited (a wholly-owned
subsidiary of Anglo American Platinum Limited) (“RPM”) entered into on 4 July
2018 (the “DOCA”) (which replaced the previous longstanding disposal of
concentrate agreement), in terms of which RPM has agreed to purchase all of the
PGM concentrate produced by RBR (the “Concentrate”). The termination date of the
DOCA in respect of either 17% or 50% of the Concentrate is 11 August 2024,
provided that RPM gives notice of such termination on or before 10 August 2022,
failing which the DOCA shall endure for continuous rolling periods of 5 years
unless terminated in accordance with the terms stipulated in the DOCA.
Shareholders are referred to the Company’s circular dated 27 August 2018 for
further detail on the termination rights under the DOCA.
Given that the Company is currently the subject of a mandatory offer by Impala
Platinum Holdings Limited (“the Offer”), the Company and RPM agree that it is
advisable that RPM delays its decision regarding the DOCA. RBR has accordingly
agreed that RPM may deliver a termination notice in terms of the DOCA at any
time on or before 10 February 2023, on the basis that if a termination notice is
given on or before that date, the termination date of the DOCA in respect of 17%
or 50%, as the case may be, of the concentrate will remain 11 August 2024 (or
such later date as the Parties may agree in writing).
The board of directors of the Company (the “Board”), individually and
collectively, accepts responsibility for the accuracy of the information
contained in this announcement which relates to RBPlat. To the best of the
Board’s knowledge and belief, the information contained in this announcement is
true and nothing has been omitted which is likely to affect the importance of
such information.
Johannesburg
10 August 2022
JSE Sponsor
Merrill Lynch South Africa Proprietary Limited t/a BofA Securities
For further information, please contact:
Lindiwe Montshiwagae
Executive: Investor Relations and Corporate Communications
Tel: +27 (0)10 590 4510
Email: lindiwe@bafokengplatinum.co.za
Thandeka Mthembu
Manager: Investor Relations
Tel: +27 (0)10 590 4510
Email : thandekam@bafokengplatinum.co.za
