Zimplats sticks with Impala...

摘要

Australian-listed Zimbabwe Platinum Mines Ltd (Zimplats) this week reiterated its backing to the 4.08 Australia dollars/share all-cash offer to its minority shareholders by Impala Platinum Holdings Ltd (MJ, July 4, p.1), formally rejecting a proposed cash-plus-shares rival bid from Barbican Holdings Ltd, a financial services group listed on the Zimbabwe Stock Exchange. As this Friday's (August 29) deadline for acceptance of Impala's offer approached, Zimplats finally released details of the bizarre counteroffer from Barbican which, since its tentative announcement two weeks ago (MJ, August 15, p.107), has been the subject of some confusion. In a formal response to Barbican's "proposed" offer, Zimplats' independent directors cited uncertainty over Barbican's ability to secure funding for the deal as a major factor in their decision to support Impala's bid. In the same announcement, Zimplats also revealed that some of its minority shareholders had already accepted Impala's offer. As Mining Journal went to press, Impala's total holding in Zimplats had risen to 68.5 percent.