Implats to raise R4bn equity capital
JOHANNESBURG (miningweekly.com) – Platinum mining major Impala Platinum (Implats) said on Thursday that it intended raising up to R4-billion through the sale of new Implats ordinary shares using an accelerated bookbuild process.
The company, headed by CEO Terence Goodlace, said that shareholder approval would be sought in order to permit the company to issue ordinary Implats shares for cash on a non-pre-emptive basis.
It would also seek approval for certain qualifying shareholders to have the ability to participate in the specific issue for cash and for the approval of certain amendments to Implats’ memorandum of incorporation.
The specific issue for cash has been fully underwritten by UBS Limited and support to vote in favour of the relevant resolutions at the Implats shareholders’ meeting has been received from shareholders who own 49% of the company’s issued share capital.
These include Coronation, Royal Bafokeng and Public Investment Corporation.
Further, Allan Gray, as investment manager, has irrevocably committed to recommend to its clients to vote their 2.6% holdings in favour, which provides majority 51.6% support.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation