20.09.2021 08:36
Posted by khashanem

Johannesburg, 20 September 2021: Trading in Northam Platinum Holdings Limited (Northam Holdings) shares will commence tomorrow, 21 September 2021, on the Main Board of the Johannesburg Stock Exchange (JSE) under the JSE share code NPH, following the simultaneous termination of the listing of all Northam Platinum Limited (Northam) shares under the JSE share code NHM from the Main Board of the JSE.

 

This follows the successful acceleration of the maturity and wind-up of the empowerment transaction concluded between Northam and Zambezi Platinum (RF) Limited in May 2015 and implementation of a scheme of arrangement between Northam and shareholders of Northam, in terms of which Northam Holdings has acquired all Northam shares (excluding treasury shares) in exchange for Northam Holdings shares on a one-for-one basis (Northam Scheme).

 

The next step in the two-phased composite transaction is the implementation of an extended black economic empowerment transaction with a 15 year term and an emphasis on Northam’s employees and host and affected communities. This is expected to occur within the next 12 to 24 months.

 

Paul Dunne, Northam Holdings’ Chief Executive Officer, commented “This is a very special day for Northam. Implementation of the Northam Scheme, combined with the listing of Northam Holdings, represents a significant milestone in Northam’s history and we appreciate the efforts of all the parties involved in making this landmark transaction possible. We are especially grateful for the overwhelming support received from our shareholders and we can look forward to further value creation for all stakeholders as the group continues to execute on its growth strategy.

 

Valdene Reddy, the JSE’s Director of Capital Markets, has welcomed the listing of the Northam Holdings shares on the Main Board of the JSE and the growth prospects that the new listing will bring to the Northam group. “The JSE is proud to be an exchange that enables sustainable growth for listed companies within the broader South African market, and we are pleased to play a critical role in this pivotal point of Northam’s history,” concluded Reddy.

 

Investors are referred to the joint announcement published by Northam Holdings and Northam on the Stock Exchange News Service of the JSE, today, 20 September 2021, for further information regarding the composite transaction and implementation of the Northam Scheme.

 

ENDS

 

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