Royal Bafokeng Platinum Limited (JSE:RBP) News - No further steps in respect of the ruling of the Takeover Regulation Panel and withdrawal of cautionary announcement

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”)


NO FURTHER STEPS IN RESPECT OF THE RULING OF THE TAKEOVER REGULATION PANEL AND WITHDRAWAL OF
CAUTIONARY ANNOUNCEMENT

Shareholders of RBPlat are referred to the announcement published by the Company on SENS on Wednesday,
30 March 2022, wherein shareholders of RBPlat were advised that the Takeover Regulation Panel (“TRP”) had
issued a ruling dated 30 March 2022 (the “Ruling”), in which it ruled that Northam Platinum Holdings Limited does
not have an obligation to make a mandatory offer to the Company’s shareholders in terms of Section 123 of
the Companies Act, No. 71 of 2008, as amended, arising from its previously announced dealings in voting
securities of RBPlat. Shareholders were informed that the Independent Board of the Company (“Independent
Board”) was in the process of taking advice regarding its obligations and the way forward arising from the Ruling.


Shareholders are hereby notified that the Independent Board, having considered the Ruling in the light of
current circumstances and the evolution of events to date, and having obtained appropriate advice, has
resolved not to apply to the Takeover Special Committee to appeal the Ruling.


Therefore, and as previously announced, the only offer currently open to be considered by the Company’s
shareholders is the mandatory offer by Impala Platinum Holdings Limited (“Implats”), the terms of which are set
out in Implats’ offer circular posted on Monday, 17 January 2022 and the Company’s offeree response circular
posted on Friday, 11 February 2022.


WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Accordingly, the cautionary announcement released by the Company on Thursday, 9 December 2021 and all
subsequent renewals thereof are hereby withdrawn.


RESPONSIBILITY STATEMENT

The Independent Board, individually and collectively, accepts responsibility for the accuracy of the information
contained in this announcement, and certifies that, to the best of its 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
5 April 2022


Lead Corporate & Financial Advisor and Transaction Sponsor to RBPlat
Questco Proprietary Limited


Financial Advisor and JSE Sponsor to RBPlat
Merrill Lynch South Africa Proprietary Limited t/a BofA Securities

                                                            -1-
Legal Advisor to RBPlat
Bowman Gilfillan Inc.

Queries:

Lindiwe Montshiwagae
Email: lindiwe@bafokengplatinum.co.za
Tel: +27 (0)10 590 4510
M: + 27 (0) 82 920 7803

Thandeka Mthembu
Email: thandekam@bafokengplatinum.co.za
Tel: +27 (0) 10 590 4510
M: +27 (0) 72 674 9601

Date: 05-04-2022 07:05:00
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