Zamezi Resources JSE Listing 11th May 2015

South Africa – Northam Platinum’s 31.4% BEE shareholder company Zambezi Platinum successfully listed as a debt issuer on the main board of the JSE earlier today.

The company has been created as the special purpose vehicle to house the newly constituted historically disadvantaged South African (HDSA) shareholding in Northam Platinum.

Zambezi Platinum will beneficially hold 159 905 453 Northam shares, amounting to approximately 31.4% of the total issued ordinary share capital of Northam.  Its preference shares which will be issued to participants on 18 May 2015 at R41 per share, provide an affordable opportunity for a broad range of investors, over and above those directly invested in Northam, to gain exposure to this exciting sector. The preference shares will trade under the ZPLP ticker symbol.

Speaking at the JSE today, chairman elect of Zambezi Platinum Lazarus Zim described the nature of the transaction which saw the establishment of Zambezi Platinum and which has revitalized Northam’s empowerment status, as unique and unprecedented.

“Unlike many prior BEE transactions, everyone party to this transaction is protected from the vicissitudes of the market through the ring-fencing of Zambezi. With Northam’s strong balance sheet, visionary and energetic leadership, we can now pursue value-accretive growth opportunities which will benefit shareholders and all stakeholders alike.” – Lazarus Zim

Northam chief executive Paul Dunne added, “This landmark transaction recognises the fundamental value of Northam along with its growth potential. Now, with meaningful and sustainable empowerment participation, we are well poised to realise further upside.”

Much like its namesake, one of Africa’s greatest waterways, Zambezi Platinum seeks to ensure that there is significant value and benefit flowing through to a broad range of stakeholders – communities, employees, a women’s group and a core of strategic partners who offer financial, legal and business skills, supportive of Northam’s ambitions.

Top Stories:

Unlikely mineral supply chain disruptions in DRC

Kenya Mining Code: New legislation faces delays with Balala corruption enquiry

Anglogold Ashanti improves costs by 7% in the first quarter of 2015

Comments are closed.