/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES/
TORONTO, April 19 /CNW/ - Platmin Limited ("Platmin" or "the Company"; TSX/AIM: PPN; JSE: PLN) announced today that each of Temasek Holdings (Private) Limited ("Temasek") and Algemene Pensioen Groep N.V. ("APG") has expressed an intention to purchase US$50 million of new common shares in the US$250 million market offering launched on 16 April 2010.
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 S$172 billion (US$119 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 & financial services, real estate, transportation and logistics, infrastructure, telecommunications & media, bioscience & healthcare, education, consumer & lifestyle, engineering & technology, as well as energy & resources.
APG is a subsidiary of ABP's subsidiary Stichting Pensioenfonds ABP ("National Civil Pension Fund", "ABP") the pension fund for government and education employees in the Netherlands. APG manages pension assets of approximately (euro)240 billion Euros (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 remains subject to certain conditions, including regulatory approval and approval of the Toronto Stock Exchange.
The foregoing common shares, if purchased by Temasek and APG, will be purchased directly from Platmin and will not be underwritten by RBC Capital Markets or Investec Bank Limited, the underwriters for the offering.
Platmin explores for and develops and operates platinum group metals (PGM) deposits in South Africa. The company's principal current focus is the Pilanesberg Platinum Mine, which is building up to full production. In addition, it holds platinum interests on the eastern limb of the Bushveld Complex. Platmin's long term goal is to become a significant producer of PGMs.
The Canadian preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus are available electronically at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the common shares until a receipt for the (final) prospectus has been issued by the applicable Canadian securities regulatory authorities.
Copies of the preliminary prospectus may be obtained from RBC Capital Markets, Attention: Distribution Centre, 277 Front St. W., 5th Floor, Toronto, Ontario M5H 2X4 (tel: 416-842-5349).
This news release does not constitute an offer to sell, or the solicitation of an offer to buy, the securities in any jurisdiction, including the United States, or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption therefrom, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities being offered will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person, absent U.S. registration or an applicable exemption therefrom.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This market release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial and operating performance of Platmin, its subsidiaries and its mineral properties, the future price of platinum or other PGMs, the estimation of mineral resources and reserves, the realization of mineral resource estimates, exploration expenditures, timing of the issuance of new common shares, costs and timing of the development of new deposits, costs and timing of the development of new mines, timing of economic and scoping-level studies, forecasts and projections of future production, capital costs and operating costs, future timing of achieving a steady state of production, future costs and timing of future exploration, requirements for additional capital, government regulation of mining operations and exploration operations, timing and receipt of approvals and licences under mineral legislation, environmental risks, title disputes or claims and limitations of insurance coverage. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements in this market release include among others: the completion of the Offering; the Company's plans with respect to the future development and operation of the Pilanesberg Platinum Mine and the future advancement of the Mphahlele, Grootboom and Loskop projects; the purchase of US$100m of new common shares by Temasek and APG; projected annualized rates of production from the Pilanesberg Platinum Mine; the timing and completion of the offering of new common shares; timing of the receipt of governmental approvals and/or acceptances; targets, estimates and assumptions in respect of platinum and other PGMs production and prices; amount and type of future capital expenditures and capital resources; mineral reserves and mineral resources; anticipated grades; recovery rates; future financial or operating performance; costs and timing of the development of new deposits; costs, timing and location of future drilling; earning of future interests in various permits; production decisions; costs and timing of construction; operating expenditures; costs and timing of future exploration; and environmental and reclamation expenses. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Platmin and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, general business; economic, competitive, political and social uncertainties; the actual results of current exploration activities; conclusions of economic evaluations and studies; currency fluctuations; future prices of platinum and other metals; possible variations of ore grade or recovery rates; failure of equipment to operate as anticipated; accidents, political instability, insurrection or war; delays in obtaining governmental approvals or financing; liquidity and financing risks related to the global economic crisis, as well as those factors discussed in the section entitled "Risk Factors" in the Company's annual information form filed at www.sedar.com. Such forward-looking statements are based on a number of material factors and assumptions, including: that contracted parties provide goods and/or services on the agreed timeframes; that no unusual geological (including grade) or technical problems occur; that plant and equipment work as anticipated, and that there is no material adverse change in the price of platinum or other PGMs. Although Platmin has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the; date of this announcement and Platmin disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements due to the inherent uncertainty therein.
SOURCE PLATMIN LIMITED
For further information: For further information: Charmane Russell, Russell & Associates, +27 11 880 3924, +27 82 372 5816; Nicola Taylor, Russell & Associates, + 27 11 880 3924, + 27 82 927 8957