RBP - Royal Bafokeng Platinum Limited - Subscription of shares by the Mahube
RBP
RBP
RBP - Royal Bafokeng Platinum Limited - Subscription of shares by the Mahube
Share Trust and directors` dealings in terms of the bonus share plan
ROYAL BAFOKENG PLATINUM LIMITED
(formerly Royal Bafokeng Platinum (Proprietary) Limited
and formerly Lisinfo 223 (Proprietary) Limited and
formerly Lisinfo 223 Property (Proprietary) Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2008/015696/06)
JSE share code: RBP ISIN: ZAE000149936
("RBPlat" or the "company")
SUBSCRIPTION OF SHARES BY THE MAHUBE SHARE TRUST AND DIRECTORS` DEALINGS IN
TERMS OF THE BONUS
SHARE PLAN
Reference is made to the pre-listing statement, dated 18 October 2010 and more
specifically the section referring to the share schemes operated by Royal
Bafokeng Platinum Limited. In terms of the Mahube Share Trust, established
solely for the benefit of qualifying Bafokeng Rasimone Management Services
("BRMS") employees to ensure the replacement of the value forfeited under the
Anglo Platinum Group Employee Share Participation Scheme ("Kotula").
The value attributable to qualifying employees under the Kotula has been
determined and the equivalent value is being created in Mahube Share Trust. The
Trust in terms of the scheme arrangement and in order to facilitate the value to
be established, the Mahube Share Trust is entitled and has subscribed for 563
914 ordinary shares at a value of R65.12 as well as 845 871 "A" ordinary shares
at a value of R27.50 subdivided as follows:
- 281 957 "A1"ordinary shares to vest on 31 March 2013
- 281 957 "A2"ordinary shares to vest on 31 March 2014
- 281 957 "A3" ordinary shares to vest on 31 March 2015
Given the fulfilment of the conditions of the offer to subscribe for the shares
and the authorisation by the Board of Directors to do so, 563 914 ordinary
shares and 845 871 "A" ordinary shares will be issued to the Mahube Share Trust
on 27 January 2011.
In addition, as disclosed in the pre-listing statement and the SENS announcement
released on 9 November 2010, a further 133 432 ordinary shares will be issued at
a deemed price of R65.00 in respect of 77 843 shares and R57.48 in respect of 55
589 shares, to be issued to qualifying employees in terms of the company`s Bonus
Share Plan. Such shares are to be held by the company`s escrow agent on
behalf
of the employees for a period of three years until the date of maturity of such
shares. The following executive directors, as previously disclosed, together
with the company secretary have obtained clearance, as required, to receive the
following awards:
MJL Prinsloo (Chief Financial Officer)
27 403 ordinary shares at a deemed price of R57.48
(relating to bonus awards in 2009)
Total deemed value: R1 575 124.44
Nature and extent of interest: direct beneficial (once vested)
Off-market transaction
NJ Muller (Chief Operating Officer)
28 186 ordinary shares at a deemed price of R57.48
(relating to bonus
awards in 2009)
Total deemed value: R1 620 131.28
Nature and extent of interest: direct beneficial (once vested)
Off-market transaction
LC Jooste (Company Secretary)
10 385 ordinary shares at a deemed price of R65.00
(relating to bonus awards in December 2010)
Total deemed value: R675 025.00
Nature and extent of interest: direct beneficial (once vested)
Off-market transaction
The share allotments as described above will be finalised on 27 January 2011.
Johannesburg
21 January 2011
Sponsor
RAND MERCHANT BANK (a division of FirstRand Bank Limited)
Date: 21/01/2011 15:15:02 Produced by the JSE SENS Department.
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