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28 Apr 2008 09:20
AQUARIUS PLATINUM LIMITEDASX, LSE & JSE28 April 2008
Notice under Section 708A(5)(e) of the Corporations Act 2001
Completed Repurchase of Implats' Stakes
Aquarius Platinum Limited ("Aquarius") wishes to advise that it has completed the repurchase of Impala Platinum Holdings Limited's ("Implats") stakes in both Aquarius Platinum and Aquarius Platinum South Africa ("AQPSA").
Aquarius has repurchased the 21,425,898 common shares (approximately 8.4% of Aquarius' issued share capital) currently held by Implats for ‚£6.71 ($13.34) per share, representing a total consideration of ‚£143.8 million ($285 million). These shares have now been cancelled. In addition, AQPSA has repurchased Implats' 20% stake in AQPSA for a total consideration of $504.9 million; comprising a cash payment of $459.0 million to Implats and a Secondary Tax on Companies ("STC") charge of $45.9 million, as required under South African tax legislation.
The transactions were funded through a combination of an accelerated book build, cash and debt. The completed bookbuild resulted in the issuance of 23,144,000 new common shares of $0.05 each in Aquarius Platinum, at a price of GBP 800 pence per placing share, raising gross proceeds of approximately $366 million (‚£185 million). The balance of the transaction was funded through cash and debt.
The number of common shares on issue has increased to 258,252,368 as detailed below:
Number of shares on issue pre transaction 256,534,266
Number of new shares issued 23,144,000
Number of Impala Shares cancelled -21,425,898
Total number of new shares post transaction 258,252,368
The number of unlisted options remains 2,799,861
The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act.
The Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act, in reliance on Section 708A(5)(e) of the Corporations Act.
The Company, as at the date of this notice, has complied with:
(a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and
(b) Section 674 of the Corporations Act.
There is no excluded information for the purposes of Sections 708A(7) and (8) of the Corporations Act.
For further information please contact:
In Australia: In the United Kingdom and South Africa Willi Boehm Nick Bias +61 (0)8 9367 5211 +44 (0)7887 920 530 REGISTERED OFFICE
Aquarius Platinum Limited ¢â€" Clarendon House ¢â€" 2 Church Street ¢â€" Hamilton HMCX Bermuda
Email: info@aquariusplatinum.com
Telephone: +61 8 9367 5211
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