Completion of Disposal of Iron Ore Assets

RNS Number : 1434K

Sylvania Platinum Limited

16 August 2012

 



Sylvania Platinum Limited

("Sylvania Platinum", "Sylvania" or the "Company")

(AIM: SLP)

Completion of Disposal of Iron Ore Assets

and

Update on Dividend in Specie

Further to the announcement of 27 July 2012, Sylvania is pleased to announce that the disposal of the Bushveld Iron Ore asset to Mercury has completed and Admission of the enlarged Mercury Group, now re-named Ironveld plc, has taken place.

Also, Sylvania will today make a distribution of the Consideration Shares received on completion. The Dividend in Specie will be made on the basis that for every Sylvania Platinum ordinary share held, a Sylvania Platinum shareholder shall be entitled to 0.675 of an ordinary share in Mercury. Further details of the Dividend in Specie are contained in the Company's announcement of 27 July 2012.

Capitalised terms used but not defined in this announcement have the same meaning as given to them in the announcement of 27 July 2012.

ENDS

CORPORATE INFORMATION

Registered office:     Sylvania Platinum Limited

                                    Clarendon House

                                    2 Church Street

                                    Hamilton HM 11

                                    Bermuda

Postal address:         PO Box 524

                                    Wembley WA 6913

                                    Australia

Sylvania Website:     www.sylvaniaplatinum.com

CONTACT DETAILS

South Africa:              Terry McConnachie                             Nigel Trevarthen

(CEO)                                                  (Deputy CEO)

                                    Sylvania Platinum Limited                    Sylvania Platinum Limited

                                    [phone]                               [phone]

                                    Louis Carroll

                                    (Director/Assistant Company Secretary)

                                    Sylvania Platinum

                                    [phone]

Australia:                    Richard Rossiter                                  Grant Button

(Chairman)                                          (Director/Assistant Company Secretary)

Sylvania Platinum Limited                    Sylvania Platinum Limited

[phone]                               [phone]

United Kingdom:       Samantha Harrison                              Martin Eales/James Kelly

                                    RFC Ambrian Limited                           RBC Capital Markets  

Nominated Advisor                               Joint Broker

                                    [phone]                          [phone]

Graham Herring/Beth Harris

                                    Newgate Threadneedle

                                    [phone]

 

END

 

 

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