JOHANNESBURG, South Africa, Sept. 30, 2004 (PRIMEZONE) -- Impala Platinum Holdings Limited (Implats) (JSE:IMP) (LSE:IPLA) (Pink Sheets:IMPUY) confirms today, September 30, 2004, that it received final payment of US $667.8 million for the sale of its 27.1% stake in Western Platinum Limited and Eastern Platinum Limited, collectively known as Lonplats. This follows the announcement made on September 7.
The US $667.8 million received comprises the gross disposal price (US $794.5 million) less both the dividend already received (US$ 31.7 million) and the vendor financing provided by Implats to the consortia of historically disadvantaged South Africans (US $95 million) which have purchased a portion of Implats stake in Lonplats.
The Board has approved a general buy-back of shares, in terms of the current authority granted to it, as the most appropriate method of returning cash to shareholders.