JOHANNESBURG, South Africa, April 21, 2004 (PRIMEZONE) -- Impala Platinum Holdings Limited (Implats) (Pink Sheets:IMPUY) (Other OTC:IMPAF) (JSE:IMP) (LSE:IPLA) (ADR:IMPUY) announces today that further progress has been made with regard to the sale of its indirectly held 83.2% stake in Barplats Holdings Limited to the Salene Platinum Consortium (the Consortium).
Following the agreement concluded with the Consortium on 5 March 2004, the full purchase price of R388.9 million has been guaranteed by a suitable bank guarantee in favour of Barplats Holdings Limited, a wholly owned subsidiary of Implats.
This represents a purchase price of R2.10 per share.
The transaction remains subject to the approval of the South African Competition Commission. It is anticipated that that filing will be made during the course of this week. Provided that the transaction is approved by the Competition Commission, it is anticipated that the transaction can be concluded by the financial year end (30 June).