Results of Minimum Holding and Selective Buy Backs

RNS Number : 6927A

Sylvania Platinum Limited

03 April 2012

 

Sylvania Platinum Limited

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

(ASX: SLP, AIM: SLP)

RESULTS OF MINIMUM HOLDING AND SELECTIVE BUY-BACKS - REPLACEMENT

The following replaces the announcement that was released yesterday at 10:29, RNS Number 5848A.

The minimum Holding Buy-Back figure quoted had a typographical error.  All other information remains unchanged and the full announcement appears below.

RESULTS OF MINIMUM HOLDING AND SELECTIVE BUY-BACKS

Further to Sylvania Platinum Limited's (Sylvania Platinum or the Company) announcements dated 16 January 2012 and 8 March 2012, Sylvania Platinum has now completed simultaneous buy-backs of:

(A)       common shares (Shares) and depository interests (DIs) from holders of parcels of Shares or DIs in the Company which are valued at less than $500 (Unmarketable Parcel), (Minimum Holding Buy-Back); and

(B)       Shares and DIs in the Company from holders of parcels of Shares or DIs valued at $500 or more but which comprise less than 5,000 Shares or DIs (Selective Buy-Back),

(together, the Buy-Backs).

The Buy-Backs closed at 5:00pm (WST) on 30 March 2012 (Closing Date) and resulted in 486,909 shares being held by 761 shareholders being bought back and cancelled by the Company including:

·     303,252 shares under the Minimum Holding Buy-Back; and

·     183,657 shares under the Selective Buy-Back.

As a result, Sylvania Platinum now has 300,764,896 fully paid shares on issue.

The total consideration paid by the Company will be approximately AUD $148,507.25 (Buy-Back Consideration), based on the buy-back of 486,909 shares at AUD $0.305 per share.

Sylvania Platinum holders who participated in the Buy-Backs will be notified in writing of the number of their shares/DIs which have been bought back.  The Company intends to dispatch those notices, together with cheques for their portion of the Buy-Back Consideration, as soon as practicable.  It is expected that the notices will be dispatched on Tuesday, 10 April 2012.

If you require further information in respect to the Buy-Backs please contact Grant Button (Director/Assistant Secretary) on +61 8 9226 4777 or Louis Carroll (Director/Assistant Secretary) on +44 0 7969 170 622.

Yours faithfully

Terry McConnachie

Managing Director

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

CONTACT DETAILS

For further information please contact: 

This information is provided by RNS

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