JOHANNESBURG, 11 May 2015 - Today, Zambezi Platinum (JSE: ZPLP) listed as a preference share on the Main Board of the JSE. The listing of Zambezi Platinum's preference shares follows the conclusion of a Broad Based Black Economic Empowerment (BBBEE) transaction by Northam Platinum, which was initiated to establish a sustainable historically disadvantaged South Africans (HDSA) shareholding in the company.

Zambezi Platinum was incorporated into Northam Platinum as a special purpose vehicle to facilitate the BBBEE transaction. The conclusion of Northam Platinum's BBBE transaction now sees the level of empowerment ownership the company increasing to 35.4%, far exceeding the Mining Charter's minimum equity requirement of 26%.

The Northam Platinum BBBEE transaction is underpinned by a R4.6 billion capital raise, where the proceeds from the transaction will be used to fund future growth opportunities in the platinum mining sector. The capital raising is supported and funded by Northam Platinum's anchor shareholders, Coronation Asset Managers and the Public Investment Corporation. The capital raise will be implemented via renounceable offer by Northam Platinum on behalf of Zambezi Platinum through the listing of the latter's preference shares on the JSE.

JSE head of Capital Markets Donna Oosthuyse says, "We congratulate Northam Platinum on this ground breaking transaction. We are particularly pleased that Zambezi Platinum's preference shares will be listed on our exchange, as it demonstrates the confidence Northam Platinum has in the JSE to facilitate its future growth ambitions."

Chairman Elect of Zambezi Platinum Lazarus Zim comments: "The Zambezi is Africa's fourth largest river and sustains four African countries. In naming this confluence of consortiums, we chose the name Zambezi since we too want this transaction to benefit a broad range of stakeholders - communities, employees, a women's group and core of strategic partners who offer financial, legal and business skills, supportive of Northam's ambitions. In addition, Northam shareholders who will participate in the Zambezi Preference share also stand to benefit from a coupon rate which provides an attractive return.

Zim adds, "This landmark transaction recognises the fundamental value of Northam and its growth potential. Northam is now poised to realise further upside, armed with a powerful balance sheet, and with substantial and meaningful empowerment participation. This is what will underpin the long-term success and sustainability of our business in an accountable, responsible manner."

The results of the rights offer will be published on the JSE Stock Exchange News Service (SENS) on 18 May 2015.

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Issued by:
Thato Mapule
H+K Strategies South Africa
Tel: +27 11 463 2198
Email: [email protected]This email address is being protected from spambots. You need JavaScript enabled to view it.

On behalf of:
Donna Oosthuyse
Director: Capital Markets
JSE Limited
(011) 520 7000