Platmin successfully completes raising of US$250 million of new equity and
US$135 million of convertible debentures

/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES/

TORONTO, May 13 /CNW/ - Platmin Limited (TSX/AIM: PPN; JSE: PLN) today announced the completion of the previously announced issuance of 205,761,317 new common shares at a price of US$1.215 per common share for a total consideration of US$250 million, and the issuance of US$135 million of convertible debentures. Common shares to the value of US$115.860 million were underwritten by RBC Capital Markets and Investec Bank Limited, while shares to the value of US$134.140 million were acquired directly from Platmin by Ridgewood Investments (Mauritius) Pte Ltd, an indirect subsidiary of Temasek Holdings (Private) Limited, Algemene Pensioen Groep (APG) N.V., and the Pallinghurst Investor Consortium (Lux) S.a.r.l. The total funding from the prospectus offering and private placement is US$385 million. Proceeds from the convertible debenture financing have been deposited to cash collateralized accounts, and in the event the convertible debentures are not converted in full prior to the maturity date, the principal amount will be returned to the holders.

About Platmin

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.

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

Organization Profile

PLATMIN LIMITED

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890