IMPUY Impala Platinum Holdings Ltd (QX)

Impala
Platinum Holdings Limited

(Incorporated
in the Republic
of South Africa)

(Registration
No. 1957/001979/06)

ISIN:
ZAE000083648

JSE
Share Code : IMP

ADR
Code : IMPUY

(“Implats”
or the “Company”)

 NOT  FOR 
PUBLICATION,  DISTRIBUTION  OR 
RELEASE,  DIRECTLY  OR 
INDIRECTLY,  IN  OR 
INTO  THE UNITED STATES OF AMERICA
(INCLUDING ITS TERRITORIES AND DEPENDENCIES), AUSTRALIA, CANADA OR JAPAN.
RELEASED IN SOUTH AFRICA FOR
INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE A PUBLIC OFFER IN SOUTH AFRICA

 

Results of Convertible Bond Offering

Implats
is pleased to announce the final terms of its dual offering of ZAR2,672 million
senior unsecured convertible bonds due 2018 (the "ZAR Bonds") and US$200
million senior unsecured convertible bonds due 2018 (the "US$ Bonds"
and together with the ZAR Bonds, the “Bonds”).

The
Bonds will be issued and redeemed at par and will carry a coupon of 5.00% per
annum for the ZAR Bonds and 1.00% per annum for the US$ Bonds. The ZAR Bonds’
initial conversion price has been set at ZAR 214.9000 per share, a premium of 35%
above the volume weighted average price of the shares from launch to pricing
while the US$ Bonds’ initial conversion price has been set at US$ 24.1300 per
share, a premium of 35% above the volume weighted average price of the shares
from launch to pricing, converted at the prevailing ZAR:US$ spot rate at the
time of pricing.

The
Company will have the option to call the Bonds at par plus accrued interest at
any time on or after 13 March 2016, if the aggregate value of the underlying shares
per Bond for a specified period of
time is 130% or more of the principal amount of that Bond.

Implats’
shareholders will be requested to grant specific authority for the directors to
issue ordinary shares pursuant to the conversion rights which will attach to
the Bonds.

It is expected that settlement of the Bonds will take place on or about
Thursday, 21 February 2013. Implats intends to apply for admission of the ZAR
Bonds to trade on the Main Board of the JSE and the US$ Bonds to trade on a European
stock exchange within 3 months following settlement of the Bonds.



UBS Limited (“UBS”) is acting as Global Co-ordinator.  The Standard Bank of South Africa Limited (in
connection with the offering of the ZAR Bonds) and Standard Bank Plc (in
connection with the offering of US$ Bonds) and UBS are acting as Joint
Bookrunners. Basis Point Capital is acting as the local partner in connection
with the offering of the Bonds

                

Johannesburg

14 February 2013

Sponsor: Deutsche Securities (SA) (Proprietary) Limited

                                                 

Stabilisation/FSA.

 This announcement is
not for publication, distribution or release, directly or indirectly, in or
into the United States
(including its territories and dependencies, any State of the United States and the District of Columbia). The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the "Securities Act"), and may
not be offered or sold in the United States without registration there under or
pursuant to an available exemption therefrom. Neither this announcement nor the
information contained herein constitutes or forms part of an offer to sell or
the solicitation of an offer to buy securities in the United States.
There will be no public offer of the Bonds in the United States or in any other
jurisdiction.

 In the United Kingdom
this communication is directed only at those persons (i) who have professional
experience in matters relating to investments falling within Article 19(5) of
the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005,
as amended (the "Order") or (ii) who fall within Article 49(2)(A) to
(D) of the Order, and (iii) to whom it may otherwise lawfully be communicated.

This announcement is
not intended to be nor is it an offer to the public for sale or subscription of
the Bonds as contemplated under Chapter 4 of the South African Companies Act,
No.71 of 2008, as amended nor does it constitute an offer for subscription,
sale or purchase of the US$ Bonds to any South African resident persons or
company or any non-South African company which is a subsidiary of a South
African company. A South African resident person or company or any non-South
African company which is a subsidiary of a South African company is not
permitted to acquire the US$ Bonds unless such person has obtained exchange
control approval to do so.

This announcement is
not an offer of securities or investments for sale nor a solicitation of an
offer to buy securities or investments in any jurisdiction where such offer or
solicitation would be unlawful.