Impala Platinum Holdings Limited on 4 April 2016, announced that the Company has received formal notification that Royal Bafokeng Holdings (Pty) Limited (RBH) has reduced its shareholding in Implats to 46 198 521 ordinary shares.
The disposal process, which reduces RBH’s shareholding in Implats by some 5% was completed on 31 March 2016.
The structured disposal process was effected over a period of eighteen months.
“As part of Royal Bafokeng Holdings prudent approach to portfolio management, and in line with our ongoing diversification strategy, we have decided to reduce our shareholding in Implats,” says Albertinah Kekana, Royal Bafokeng Holdings Chief Executive Officer.
“We remain one of the largest overall investors in the South African platinum sector. Our platinum holdings represent a significant and important contributor to our portfolio. We believe in the long-term fundamentals of the sector and through our ongoing engagements with various stakeholders, we remain committed to finding solutions to the current challenges.”
“Our long standing relationship with the Royal Bafokeng Nation and its ability to independently realise significant value through this relationship is testament to our shared obligation and commitment towards empowerment,” says Terence Goodlace, Implats Chief Executive Officer.