[miningmx.com] — THE proposed listing this quarter of Royal Bafokeng Platinum (RBPlats) has been postponed while the company’s shareholders assess an unsolicited bid for the Royal Bafokeng Rasimone Mine (RBPM), RBPlat’s key asset.
In an announcement on Thursday, RBPlat said Royal Bafokeng Holdings and Anglo Platinum, its shareholders, had received a conditional non-binding offer to buy 100% of BRPM.
“The RBPlat board has taken the decision to put the intended listing process on hold in order to allow the shareholders an appropriate period to evaluate the offer,” RBPlat said in a statement.
“There can be no certainty that these discussions will lead to a transaction,” it added.
RBPlat holds a 67% interest in BRPM, a joint venture established in 2002 between RBPlat’s wholly-owned subsidiary, Royal Bafokeng Resources and Rustenburg Platinum Mines, a wholly-owned subsidiary of Anglo Platinum, which owns the remaining 33% of BRPM.
The offer is subject to a number of pre-conditions including RBPlat shareholder approval, completion of a due diligence and other regulatory approvals.
