Completion of African Rainbow Minerals Limited disposal of its 50% indirect interest in Dwarsrivier Chrome Mine
29 July 2016
ARM shareholders are referred to the announcement released on the Stock Exchange News Service of the JSE Limited on 25 June 2015, in which they were advised that ARM and Assore Limited (“Assore”) had concluded definitive agreements for ARM’s disposal of its 50% indirect interest in the Dwarsrivier Chrome Mine (“Dwarsrivier”), held through Assmang Proprietary Limited (“Assmang”), to Assore for an amount of ZAR450 million (the “Transaction”).
ARM is pleased to advise that the conditions precedent to the Transaction have been fulfilled. The Transaction will accordingly be completed on 29 July 2016.
Assore will also refund Assmang an amount of approximately ZAR55 million for additional funding advanced to Dwarsrivier’s operations by Assmang between 1 July 2014 and 30 June 2016, in accordance with the terms of the Transaction.
For all investor relations queries, please contact:
Jongisa Magagula
Corporate Development and Head of Investor Relations
Office: +27 11 779 1507
Email: jongisa.magagula@arm.co.za
Johannesburg
29 July 2016
Sponsor to ARM
Deutsche Securities (SA) (Proprietary) Limited
Investment bank and corporate advisor to ARM
Absa Bank Limited
Legal adviser to ARM
Bowman Gilfillan Incorporated
Tax adviser to ARM
PricewaterhouseCoopers