23 Mar 2016 08:47
AQUARIUS PLATINUM LIMITED - Timetable & Details re Sibanye TransactionAQUARIUS PLATINUM LIMITED - Timetable & Details re Sibanye Transaction
PR Newswire
London, March 23
AQUARIUS PLATINUM LIMITED
ASX, LSE & JSE
23 March 2016
TIMETABLE AND DETAILS IN RELATION TO COMPLETION OF TRANSACTION WITH SIBANYE
Aquarius Platinum Limited (Aquarius) refers to its announcement of 22 March in relation to setting the Conditions Fulfilment Date for the proposed transaction with Sibanye Gold Limited (Sibanye). All the details of the proposed transaction have been set out in previous announcements released by Aquarius and in the notice of special general meeting, explanatory memorandum and independent expert’s report (Meeting Materials) which were released on 14 December 2015.
TIMETABLE
Set out below is a timetable of events leading up to completion of the transaction and payment to Aquarius shareholders.
| Event | Indicative Time / Date |
| Conditions Fulfilment Date | Thursday, 24 March 2016 |
| Announcement of Conditions Fulfilment | By 5.00pm (Bermuda time) on Thursday, 24 March 2016 |
| Lodgement of application for delisting of Aquarius from the ASX, JSE and LSE | By 5.00pm (local time for each exchange) on Tuesday, 29 March 2016 |
| Last day to trade Aquarius shares on ASX, LSE and JSE | Friday, 1 April 2016 |
| Cessation of transfers between each branch register of Aquarius’ register of members | 5.00pm (local time for each exchange) on Friday, 1 April 2016 |
| Suspension of trading on ASX, LSE and JSE | Monday, 4 April 2016 |
| Record Date for the Amalgamation | 5.00pm (local time for each exchange) on Friday, 8 April 2016 |
| Effective Time (cancellation of Aquarius shares) | 8.30am (Bermuda time) on Tuesday, 12 April 2016 |
| Delisting of Aquarius from ASX, LSE and JSE | As soon as practicable following the Effective Time |
| Payment of consideration to Aquarius shareholders | On or before Thursday, 28 April 2016 |
| End Date under the Implementation Agreement | 6 May 2016 |
PAYMENT TO AQUARIUS SHAREHOLDERS
As noted above Aquarius shareholders will receive payment of the consideration by Thursday, 28 April 2016. As set out in the Meeting Materials, Aquarius shareholders will receive the consideration, being USD0.195 (in the equivalent of local currency) in cash, without interest, for each Aquarius share that they own. Shareholders will receive payment in the currency of the country of the relevant branch register on which such shareholders’ shares are registered, converted at the prevailing spot exchange rate on the Record Date (being Friday 8 April 2016).
For illustrative purposes only, as at the date of this announcement, the consideration of USD0.195 would be equivalent to GBP0.14, AUD0.26 and ZAR2.97 per Aquarius share, based on the closing prices and spot exchange rates on 22 March 2016.
END DATE
In accordance with the Implementation Agreement, the End Date was 6 April 2016. As the Effective Time is not scheduled to occur until after this time, the parties agreed to extend the End Date to 6 May 2016.
For further information please contact:
In Australia:Willi BoehmAquarius Platinum Corporate Services Pty Ltd+61 (0) 8 9367 5211
In South Africa:Jean NelAquarius Platinum (South Africa) (Pty) Ltd+27 (0) 10 001 2848
or visit: www.aquariusplatinum.com
REGISTERED OFFICEAquarius Platinum Limited - Clarendon House -2 Church Street - Hamilton HMCX BermudaEmail: info@aquariusplatinum.comTelephone: +61 8 9367 5211