JSE-listed platinum group metals (PGMs) miner Impala Platinum (Implats) has concluded agreements to acquire a further 690 736 shares in fellow PGMs miner Royal Bafokeng Platinum (RBPlat), constituting about 0.24% of the RBPlat shares currently in issue.
Implats in November 2021 announced an offer to RBPlat shareholders to buy all RBPlat shares in issue for R150 a share, consisting of R60 in offer consideration shares and R90 in cash.
At the time, Implats’ offer represented a premium of 23% to RBPlat’s closing share price of R121.92 and a premium of 80% to RBPlat’s 30-day volume weighted average price of R83.51.
Following the latest agreement and consequent trades, Implats will hold 44.72% of the RBPlat shares in issue.