Zimplats Indigenisation Update


 
TIDMIPLA 
 
Impala Platinum Holdings Limited 
 
(Incorporated in the Republic of South Africa) 
 
(Registration No. 1957/001979/06) 
 
ISIN: ZAE000083648 
 
JSE Share Code: IMP 
 
LSE Share Code: IPLA 
 
ADR Code: IMPUY 
 
("Implats") 
 
ZIMPLATS HOLDINGS LIMITED ("ZIMPLATS") INDIGENISATION UPDATE 
 
Implats announces further clarification of the agreement reached with the 
Government of Zimbabwe ("Government") on 13 March 2012.  The Government has 
agreed in principle that the new plan presented is compliant with the law and 
is acceptable. No agreement has been reached on timing or valuation other than 
that the transactions would be at appropriate value. The proposals made by 
Implats to the Government in this regard are:- 
 
  * shares in Zimplats representing 10% of the enlarged issued share capital of 
    Zimplats will be issued to the Community Trust at the independent 
    valuation  previously submitted to the Government. Zimplats will provide an 
    interest free loan to the Community Trust to fund the shares and the loan 
    will be repaid from dividends. This stake would be non-contributory. 
 
  * shares in Zimplats representing a further 10% of the enlarged issued share 
    capital of Zimplats will be sold to an employee share ownership trust for 
    the benefit of all full time employees of Zimplats. The shares will be sold 
    at the same independent valuation and Zimplats will provide an 
    interest-bearing loan to the Employee Trust to fund the purchase of the 
    shares.  The loan will be repaid from dividends and will be contributory or 
    dilutive. 
 
It has also been agreed that Zimplats and the Government will explore fair 
value compensation in lieu of empowerment credits for the ground released under 
the agreement of 24 May 2006.  It was proposed to Government that on receipt of 
this compensation, Zimplats will make available for sale to the National 
Indigenisation and Economic Empowerment Fund ("NIEEF") a 31% fully contributory 
stake in Zimplats for cash at an independently determined fair value at the 
time. Future expansion opportunities will therefore not be impacted. 
 
Upon the execution of these initiatives, Zimplats will have met all of the 
Government's indigenisation and empowerment objectives and requirements. 
 
14 March 2012 
 
Johannesburg 
 
Sponsor 
 
Deutsche Securities (SA) (Proprietary) Limited 
 
- 1 - 
 
                             For internal use only 
 
- 2 - 
 
                             For internal use only 
 
                             For internal use only 
 
 
 
END

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