Shares of Royal Bafokeng Platinum will be suspended from trading on the JSE on Wednesday ahead of its delisting in mid-September, as Impala Platinum wraps up its takeover of the mining company.
In line with the provisions of the Companies Act, Implats moved to compulsorily acquire all of the RBPlat shares it did not already hold, and it now expects this will be finalised on 14 September. It also applied for the termination of the RBPlat listing on the JSE, which is anticipated to take place on 18 September.The RBPlat share was trading at R128 on Tuesday and is essentially pegged to Impala Platinum's offer price extended to all shareholders.
Headline earnings slumped almost 115% to a headline loss of about R330 million, while revenue decreased by 29% to R5.8 billion. The company's net cash position fell 7.1% to R4.5 billion.