• 2010
• 2009
• 2008
• 2007
• 2006
• 2005
• 2004
• 2003
• 2002
• 2001
• 2000

Joint announcement regarding the finalisation of the empowerment transaction between Implats and the Royal Bafokeng Nation

18 April 2007

Impala Platinum Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1957/001979/06)
ISIN: ZAE000083648
JSE Share Code : IMP
LSE Share Code : IPLA
ADR Code : IMPUY
(“Implats” or “the Company”)

Royal Bafokeng Nation
(“RBN”)

Royal Bafokeng Holdings (Pty) Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/006906/07)
(“RBH”)

Joint announcement regarding the finalisation of the empowerment transaction between Implats and the Royal Bafokeng Nation

Shareholders are advised that the transaction between inter alia Implats, the RBN and RBH and certain of its subsidiaries (“the RBN Group”) in terms of which:

• Implats pre-paid all royalties due and payable to the RBN for the 31-year period from 1 July 2007 in an amount of R12 483 million; and
• the RBN Group subscribed for 75 115 204 Implats shares for an aggregate amount of R12 483 million, was approved by Implats shareholders in a general meeting held today.

75 115 200 new Implats shares were issued to the RBN Group on 6 March 2007. An additional 4 new Implats shares will be issued for an aggregate cash consideration of R1 898 million to the RBN Group on 25 April 2007.

Johannesburg
18 April 2007

Financial adviser and transaction sponsor to Implats
Morgan Stanley South Africa (Pty) Limited

Legal and tax adviser to Implats
Deneys Reitz

Reporting accountants to Implats
PricewaterhouseCoopers Advisory Services (Pty) Limited

Corporate Tax Advisor to Implats
Dianne Dobson

Sponsor to Implats
Deutsche Securities (SA) (Pty) Limited

Legal adviser to RBH
Bell Dewar Hall

Morgan Stanley South Africa (Pty) Limited has acted for Impala Platinum Holdings Limited and no one else in relation to this transaction and will not be responsible for providing the protections afforded to its clients to any other person.

The Implats ESOP

Salient features of the ESOP:

• he Morokotso Trust has been established and Implats has made a capital contribution of an amount sufficient to fund the acquisition of 16.4 million Implats shares.
• The eligible employees are all currently employed Patterson grades A, B and C employees (approximately 28 000) of Implats’ South African subsidiaries.
• Ownership in the shares will be held by the Morokotso trust. The eligible employees will appoint the majority of the trustees of the Morokotso trust who will vote the shares on their behalf.
• After five years, employees will have the option to sell 40% of the shares and any net proceeds, (after capital contribution repayments to Implats and tax), will be paid to the qualifying eligible employees.
• The remaining 60% of the shares will be sold on the same basis after 5 years.
• Implats will have the right of first refusal to buy the shares from the ESOP trust on termination.