Salene Chrome Zimbabwe - Transaction status update

RNS Number : 3372Y

Tharisa PLC

21 August 2018

 

Tharisa plc

(Incorporated in the Republic of Cyprus with limited liability)

(Registration number HE223412)

JSE share code: THA

LSE share code: THS

ISIN: CY0103562118

('Tharisa')

Salene Chrome Zimbabwe (Pvt) Limited - Transaction status update

Tharisa hereby provides an update to shareholders with respect to the acquisition of a 90% shareholding in Salene Chrome Zimbabwe (Pvt) Limited at the par value thereof from Leto Settlement, a related party, (announced on 16 May 2018)  and its announcement that the circular to shareholders would be mailed by 16 August 2018.

Since the original announcements were made, the parties to the agreement have continued discussions as to the optimisation of certain aspects of the transaction structure. Tharisa envisages that the successful outcome of these discussions will result in the economic benefits of the transaction to Tharisa being substantially the same. Tharisa is engaging with the Johannesburg Stock Exchange regarding the relevant regulatory requirements.

Accordingly, no circular has been mailed to shareholders thus far and a further announcement in this regard will be made as soon as practicable.

Paphos, Cyprus

21 August 2018

JSE Sponsor

Investec Bank Limited

Investor Relations contact:

Tharisa plc

Sherilee Lakmidas

[phone]

[phone]

[e-mail]

Broker contacts:

Peel Hunt LLP (UK Joint Broker)

Ross Allister / James Bavister / David McKeown

[phone]

BMO Capital Markets Limited (UK Joint Broker)

Jeffrey Couch / Thomas Rider

[phone]

Nedbank Limited (acting through its Corporate and Investment Banking division) (RSA Broker)

Shabbir Norath / Reginald Demana

[phone]

Financial PR contacts:

Bobby Morse / Anna Michniewicz

[phone]

[e-mail]

 

END

 

 

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