ZAMBEZI PLATINUM (RF) LIMITED - Further support for the Transaction

Further support for the Transaction

ZAMBEZI PLATINUM (RF) LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2014/106927/06)
JSE preference share code: ZPLP
ISIN code: ZAE000202552
(“Zambezi”)

FURTHER SUPPORT FOR THE TRANSACTION

 •   97.5% total support from Preference Shareholders (including ZPLPs held by Northam)

 •   80.1% total support from Preference Shareholders (excluding ZPLPs held by Northam)

 •   The support obtained is adequate to pass all ZPLP Resolutions

Unless otherwise indicated, capitalised words and terms contained in this announcement shall bear the
same meanings ascribed thereto in the announcement published by Zambezi on SENS on
23 March 2021 (“Announcement”).

1.   INTRODUCTION

     Preference Shareholders are referred to the Announcement, regarding, inter alia:

     1.1. the proposed acceleration of the maturity and wind-up of the empowerment transaction
          concluded between Northam and Zambezi in May 2015 (“Transaction”); and

     1.2. the proposed extended 15-year BEE transaction to restore ownership by historically
          disadvantaged persons in Northam to up to 26.5% (net of treasury shares), with an emphasis
          on participation by Northam group employees and host and affected communities.

2.   FURTHER SUPPORT FOR THE TRANSACTION

     Preference Shareholders were advised in the Announcement that support had been obtained from
     Preference Shareholders (including Northam) representing 97.4% of all the ZPLPs eligible to vote
     on the ZPLP Resolutions. To the extent that Northam is precluded from voting on any of the ZPLP
     Resolutions, support in respect of 78.8% had been obtained.

     Zambezi is pleased to advise that since the publication of the Announcement, further support has
     been obtained from Preference Shareholders for the Transaction, in the form of binding
     irrevocables. The total support now represents 97.5% of all the ZPLPs, inclusive of the ZPLPs held
     by Northam. To the extent that Northam is precluded from voting on any of the ZPLP Resolutions,
     the total support represents 80.1% of the ZPLPs eligible to vote on the ZPLP Resolutions. The
     level of support obtained is adequate to pass all ZPLP Resolutions.


Johannesburg
11 June 2021


Corporate advisor to Zambezi                             Corporate advisor to Northam
Nisela Capital Proprietary Limited                       One Capital Advisory Proprietary Limited


Attorneys to Zambezi                                     Attorneys to Northam
Cliffe Dekker Hofmeyr Inc.                               Webber Wentzel

                                                                                                     
Transaction and debt sponsor to Zambezi                  Transaction, equity and debt sponsor to
One Capital Sponsor Services Proprietary                 Northam
Limited                                                  One Capital Sponsor Services Proprietary
                                                         Limited




                                                                                      

Date: 11-06-2021 08:55:00
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