Eastplats shareholders approve $225m sale

[miningmx.com] – SHAREHOLDERS in Eastern Platinum (EastPlats) today gave “overwhelming approval” for the sale of its South African platinum group metal business to Hebei Zhongbo Platinum Company, a Chinese state-owned entity.

The net proceeds of the deal including minority interests buy-out, the finder’s fee, and
estimated transaction costs are expected to be approximately $175m. Chinese state support for the transaction has also been won.

EastPlats added that were it to be de-listed from the Toronto Stock Exchange it would seek a listing on the venture market in Toronto. Its Johannesburg listing would also be retained, it said.