South Africa’s Impala Platinum (Implats) (IMPJ.J) said on Monday it was planning to make an offer to buy smaller platinum group metals producer Royal Bafokeng (RBPJ.J) for 150 rand per share in a cash-and-stock deal.
In a separate statement, Royal Bafokeng said that at this stage its independent board does not express any view or recommendation on the merits of the offer.
Impala Platinum Holdings Limited or Implats is a South African holding company that owns several companies which operate mines that produce platinum and platinum group metals, as well as nickel, copper and cobalt.
Implats is a leading producer of platinum group metals (PGMs), structured around six mining operations and Impala Refining Services, a toll refining business.
Its mining operations span the Bushveld Complex in South Africa, the Great Dyke in Zimbabwe and the Canadian Shield. The company is listed on the JSE Limited in South Africa and have a level 1 American Depositary Receipt programme in the USA.
Implats employs more than 50 000 people across all operations. The company says its people are the heartbeat of the Company and through its values – to respect, care and deliver – we foster a culture of teamwork and accountability.
The metals we produce are the key to making many essential industrial, medical and electronic items – and they contribute to a cleaner, greener world.
We actively develop markets for our PGM products, which are sold in South Africa, Japan, China, the US and Europe.
In 2016 Implats held a 87% shareholding in Zimbabwe’s Platinum giant ZIMPLATS.
Royal Bafokeng Platinum
ROYAL BAFOKENG PLATINUM (RBPLAT) IS A MID-TIER PLATINUM GROUP METALS (PGMS) PRODUCER ORIGINATING FROM A JOINT VENTURE BETWEEN ANGLO AMERICAN PLATINUM AND ROYAL BAFOKENG HOLDINGS (RBH) KNOWN AS THE BAFOKENG RASIMONE PLATINUM MINE JOINT VENTURE (BRPM JV).
The company responded in the following document: SENS_20211129_S454470