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African Rainbow Minerals (JSE:ARI) News - Closing Of The Acquisition By Arm Of Bokoni Platinum Mines Proprietary Limited
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
(“ARM” or the “Company”)
CLOSING OF THE ACQUISITION BY ARM OF BOKONI PLATINUM MINES PROPRIETARY LIMITED
Shareholders are referred to the announcement released on the Stock Exchange News Service
of the JSE Limited on 20 December 2021 in which ARM confirmed that the Company had
entered into a sale and purchase agreement which provides for a wholly owned subsidiary of
ARM to acquire all the shares of Bokoni Platinum Mines Proprietary Limited for a
consideration of R3.5 billion payable in cash (the “Transaction”), subject to certain conditions
being met.
Shareholders are advised that all the conditions precedent to the Transaction have now been
fulfilled and the Transaction has become unconditional. The effective date of the Transaction
is expected to be 1 September 2022.
Johannesburg
12 August 2022
Transaction Advisor and Transaction Sponsor: The Standard Bank of South Africa Limited
Financial Advisor to ARM: Oxford Partners (Pty) Limited
Legal Advisor: Bowmans
Technical Consultants: Worley RSA (Pty) Limited
Sponsor: Investec Bank Limited
For all investor relations queries please contact:
Jongisa Magagula - Executive Director: Investor Relations and New Business Development
Tel: +27 11 779 1300
Mobile: +27 82 562 5288
E-mail: jongisa.magagula@arm.co.za
Date: 12-08-2022 03:25:00
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