Royal Bafokeng Platinum (RBPlat) has sold an additional 690,736 shares to Impala Platinum (Implats) in a recent agreement. This acquisition amounts to approximately 0.24% of the total RBPlat shares currently available on the market.
Implats had previously announced its intention in November 2021 to purchase all shares of RBPlat at R150 per share, of which R60 would be in offer consideration shares and R90 in cash. This offer represented a premium of 23% on RBPlat’s closing share price of R121.92, and an 80% premium to RBPlat’s 30-day volume-weighted average price of R83.51.
The recent share purchase and trades will lead to Implats’ holding 44.72% of the RBPlat shares available in the market.