JOHANNESBURG, South Africa, Feb. 5, 2004 (PRIMEZONE) -- Impala Platinum Holdings Ltd (Implats) (Pink Sheets:IMPUY) (Other OTC:IMPAF) (JSE:IMP) (LSE:IPLA) (ADR:IMPUY) today announced a 2-for-1 split of its American Depository Receipts (ADRs), bringing the ratio to four ADRs to every one ordinary share. The effective date of the split will be with the opening of business in New York on February 9, 2004. Implats initiated its Level 1 sponsored ADR programme in January of 2003, with Deutsche Bank appointed as the depository bank.
This split of the ADR will have no effect on the ordinary shares, which trade on the Johannesburg and London stock exchanges.
Keith Rumble, Chief Executive Officer of Implats said, "We have seen increased interest in our shares from the U.S. investment community since the inception of our ADR programme, and this decision to split the ADR shares reflects our continued commitment to expanding our U.S. shareholder base. We believe that the lower ADR price achieved from the split will make Implats a more attractive investment in the U.S., particularly for the individual investor who will now have the power to purchase a larger block of shares. The greater liquidity we aim to achieve through this action in the U.S. will ultimately benefit all Implats shareholders."
Implats mines, beneficiates and markets platinum group metals (PGMs) and is the world's second largest platinum producer. Based in South Africa, the company has operations in South Africa and Zimbabwe, along with exploration projects in South Africa, the United States, Canada, Brazil and Australia.