VANCOUVER, Jan. 31, 2014 /CNW/ - This press release is being disseminated by Rustenburg Platinum Mines Limited ("RPM"), of No. 55 Marshall Street, Marshalltown, Johannesburg, South Africa, 2107, a wholly-owned subsidiary of Anglo American Platinum Limited as required by National Instrument 62‐103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues.
On January 31, 2014, RPM subscribed for a 125,000,000 common shares (the "RPM Subscription Shares") of Atlatsa Resources Corporation ("Atlatsa"), which RPM Subscription Shares were equal to 22.55% of the issued and outstanding common shares of Atlatsa (the "Atlatsa Shares") on a fully-diluted basis as at the date of their issuance.
Following the subscription by RPM for the RPM Subscription Shares, RPM will hold approximately 22.55% of the issued and outstanding Atlatsa Shares on a fully-diluted basis. The RPM Subscription Shares were acquired for an aggregate subscription price of R750 million (approximately Cdn$74,782,500, based on the Bank of Canada noon exchange rate 0.09971 for conversion of South African rand into Canadian dollars as of the date of the subscription), which amount will be applied against existing debt outstanding from Atlatsa to RPM.
The transactions under the Framework Agreement are being undertaken in connection with the restructuring of certain debt owed by Atlatsa to RPM and in order to simplify the capital structure of Atlatsa.
An early warning report in respect of the transactions pursuant to the Framework Agreement will be filed with the relevant Canadian securities regulatory authorities. Copies of such reports may be obtained from SEDAR at www.sedar.com or by contacting Emma Chapman at Tel: +44 (0)20 7968 8451 or email@example.com.
SOURCE Atlatsa Resources Corporation