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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Impala Platinum | LSE:IPLA | London | Ordinary Share | ZAE000083648 | ORD ZAR0.025 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 266.36 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMIPLA Impala Platinum Holdings Limited (Incorporated in the Republic of South Africa) (Registration No. 1957/001979/06) ISIN: ZAE000083648 JSE Share Code: IMP LSE Share Code: IPLA ADR Code: IMPUY ("Implats") ZIMPLATS HOLDINGS LIMITED ("ZIMPLATS") INDIGENISATION UPDATE Implats announces further clarification of the agreement reached with the Government of Zimbabwe ("Government") on 13 March 2012. The Government has agreed in principle that the new plan presented is compliant with the law and is acceptable. No agreement has been reached on timing or valuation other than that the transactions would be at appropriate value. The proposals made by Implats to the Government in this regard are:- * shares in Zimplats representing 10% of the enlarged issued share capital of Zimplats will be issued to the Community Trust at the independent valuation previously submitted to the Government. Zimplats will provide an interest free loan to the Community Trust to fund the shares and the loan will be repaid from dividends. This stake would be non-contributory. * shares in Zimplats representing a further 10% of the enlarged issued share capital of Zimplats will be sold to an employee share ownership trust for the benefit of all full time employees of Zimplats. The shares will be sold at the same independent valuation and Zimplats will provide an interest-bearing loan to the Employee Trust to fund the purchase of the shares. The loan will be repaid from dividends and will be contributory or dilutive. It has also been agreed that Zimplats and the Government will explore fair value compensation in lieu of empowerment credits for the ground released under the agreement of 24 May 2006. It was proposed to Government that on receipt of this compensation, Zimplats will make available for sale to the National Indigenisation and Economic Empowerment Fund ("NIEEF") a 31% fully contributory stake in Zimplats for cash at an independently determined fair value at the time. Future expansion opportunities will therefore not be impacted. Upon the execution of these initiatives, Zimplats will have met all of the Government's indigenisation and empowerment objectives and requirements. 14 March 2012 Johannesburg Sponsor Deutsche Securities (SA) (Proprietary) Limited - 1 - For internal use only - 2 - For internal use only For internal use only END
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