Northam Platinum - Re Shareholders' Meeting

RNS Number:5444I
Northam Platinum Ld
5 April 2000



NORTHAM PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1977/003282/06)
("Northam" or "the company")

SHAREHOLDERS' MEETING

A shareholders' meeting was called on Tuesday, 4 April 2000, in order to
propose a special resolution to increase the company's authorised share
capital and to propose an ordinary resolution placing the newly created shares
under the control of the directors. This would have facilitated a proposed
deal with Dunrose Investments 13 (Proprietary) Limited trading as Mvelaphanda
Platinum ("Mvela") if agreement on terms between Northam and Mvela could be
reached ("the proposed transaction"). Shareholders were advised of the
discussions between Northam and Mvela in a cautionary announcement published
on 22 February 2000. It was envisaged that, by the date of the shareholders'
meeting, heads of agreement, setting out the broad terms of the proposed
transaction, would have been concluded. These details would have been provided
to shareholders at the meeting. However, negotiations have advanced more
slowly than anticipated and, in the absence of finalisation of the terms of
the proposed transaction, the board of Northam deemed it premature to put the
resolutions contained in the circular to shareholders at this meeting. Mvela
has been advised of the situation and accepts the position.

Northam remains committed to continuing negotiations with Mvela. Shareholders
will be advised of any further developments and, should agreement be reached,
a new circular will be prepared and distributed to shareholders.

By order of the Board
D R Wolstenholme
Company Secretary
Johannesburg
4 April 2000 


END

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