Vote not needed for Aquarius Everest deal

[] – AQUARIUS Platinum said shareholders were not required to approve a proposal to sell its mothballed Everest mine to Northam Platinum following discussions with the UK Listing Authority regarding disposals.

Aquarius Platinum, which has a primary listing on the London Stock Exchange, said on February 10 that it intended to sell Everest to Northam Platinum for about R450m.

Aquarius had previously hoped to conclude a deal to buy the Booysendal South section from Northam and mine it from Everest, but the deal fell through because of the collapse in the platinum market and the Everest mine was mothballed.