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A royal listing – RBPlat to trade on the JSE from today

Published: Wednesday, 15 December 2010 14:42

Royal Bafokeng Platinum (RBPlat) is pleased to announce that today, 8 November 2010, it has listed on the main board of the JSE Limited (JSE), in the ‘Platinum and Precious Metals’ sector.

Royal Bafokeng Platinum (RBPlat) is pleased to announce that today, 8 November 2010, it has listed on the main board of the JSE Limited (JSE), in the ‘Platinum and Precious Metals’ sector. It will trade under the abbreviated name RBPlat and its share code will be ‘RBP’.

Given the fulfilment of the conditions of the offer to subscribe, 164,095,215 fully paid ordinary shares with a par value of R0.01 each, the entire issued share capital of the company, were listed today on the JSE. Of this 49,318,202 shares, representing a free float of 30.05%, were placed at a placement price of R60.50 a share, raising R2.98 billion. The balance of the shares is held by major shareholders Royal Bafokeng Platinum Holdings (Proprietary) Limited (57.07%) and Rustenburg Platinum Mines Limited (12.62%).

RBPlat was created from the restructuring of the Bafokeng Rasimone Platinum Mine joint venture between Royal Bafokeng Holdings (Proprietary) Limited and Anglo Platinum Limited, of which Rustenburg Platinum Mines Limited is a wholly-owned subsidiary. RBPlat is a black-owned and -controlled mid-tier platinum group metals (PGM) producer whose operations include the Boschkoppie Mine, and is currently in the process of bringing phase one of the Styldrift Merensky Project into production. RBPlat’s assets, located in the largest PGM-enriched zone, are shallow, high-grade and have well-known resources and reserves.

RBPlat reaffirms that it is well-positioned to take advantage of current and future opportunities in the PGM sector so as to maximise value for the company. Says Chief Executive Officer, Steve Phiri, “I welcome new shareholders to RBPlat, which is a very, very special South African mining company. Our journey towards this listing has been interesting and sometimes challenging. It began many years ago, towards the end of the 19th century when young Bafokeng men were sent to work on the country’s diamond mines to earn money to buy their own land. Today, we participate fully with investors and mining companies. This epitomises our vision: “more than mining”. We will operate our assets with integrity and as efficiently as possible, with due care for our employees, our neighbours and the environment. We aim to generate wealth and prosperity for the broadest group of stakeholders and to create value for our shareholders.”

Phiri was joined at the listing function today by the top-performing team from BRPM. Said Phiri, “Our best performing team represents the many thousands of employees whose diligence and efforts are the fundamental reason why investors are willing to support RBPlat. We are humble in their presence, recognising that they – and their colleagues – are part of what makes this company a great one.”

Noah Greenhill, head of Marketing and Business Development at the JSE commented, “As another mining company lists on the JSE, it will hopefully prove once again that there is capital and appetite for mining companies in South Africa. We value the confidence that Royal Bafokeng Platinum has shown in South Africa and the Johannesburg Stock Exchange by listing their assets on the JSE.”

For further enquiries, please contact:
Lindiwe Montshiwagae, Investor Relations Manager
Tel: +27 (0)11 530 8056
Fax: +27 (0) 86 219 5131
Mobile: +27 (0)82 920 7803
E-mail: lindiwe@bafokengplatinum.co.za