HomeNewsSignificant foreign interest in Platmin market offering

Significant foreign interest in Platmin market offering

A night short of
Platmin’s Pilanesberg
platinum mine
Toronto, Canada — MININGREVIEW.COM — 20 April 2010 – TSX, AIM and JSE-listed Platmin Limited “’ a company which explores, develops and operates PGM deposits in South Africa “’ has announced that two foreign companies have expressed an intention to purchase US$50 million (R375 million) of new common shares in the US$250 million (R1.875 billion) market offering is launched last Friday 16 April 2010.

The announcement of the intentions to purchase followed the company announcement that it had filed a preliminary short form prospectus in Canada in connection with a US$250 million (R1 875 billion) marketed offering of new common shares. RBC Capital Markets would be acting as sole book-runner, and together with Investec Bank Limited as joint lead managers for the offering.

The two foreign companies are Temasek Holdings (Private) Limited and Algemene Pensioen Groep N.V.

Temasek is an Asian investment company headquartered in Singapore. With an international staff of 350 people, supported by 12 affiliates and offices in Asia and Latin America, Temasek owns a diversified US$119 billion (R892.5 billion) portfolio as of 31 July 2009, concentrated principally in Singapore, Asia and the emerging economies. It is an active shareholder and investor in such sectors as banking and financial services, real estate, transportation and logistics, infrastructure, telecommunications and media, bioscience and healthcare, education, consumer and lifestyle, engineering and technology, as well as energy and resources.

APG is a subsidiary of ABP’s subsidiary Stichting Pensioenfonds ABP, the pension fund for government and education employees in the Netherlands. APG manages pension assets of approximately €240 billion Euros (R2.3 billion) as at 31 December 2009 on behalf of 20 000 employers and more than four million participants, making it the largest pension fund in the Netherlands and among the three largest pension funds in the world.

Closing of the offering is subject to certain conditions, including regulatory approval and approval of the Toronto Stock Exchange.

The net proceeds of the offering will be used by the company for, among other items, operational and working capital funding requirements at the Pilanesberg platinum mine, the acquisition of 10% of the Sedibelo platinum project, and exploration, general and administrative expenses.