- Published on 13 June 2011
JOHANNESBURG, Monday 13 June 2011 - Northam Platinum Limited (Northam) is pleased to announce the launch of a sponsored level 1 American Depositary Receipt (ADR) programme in the United States of America. One ADR represents one Northam ordinary share.
Northam has appointed The Bank of New York Mellon (BNY Mellon) as the Depositary Bank for this purpose. Glyn Lewis, Northam chief executive said today, "We are delighted to be able to provide our growing US shareholder base with a more visible profile through this programme. This is particularly pleasing in view of recent corporate developments, which have resulted in improved liquidity in the Northam stock, with the free float increasing to 64%."
This programme offers American investors the opportunity to buy Northam Platinum ADRs in dollars and receive dividend payments in dollars.
Note to editors:
Northam is the only integrated mid-tier South African PGM producer, and has control of its entire metal stream from mine to market. The company has a total resource base of some 110Moz (3PGE+Au) held through its wholly-owned Zondereinde platinum mine (which includes an onsite metallurgical complex and smelter) on the upper end of the western limb of the South African Bushveld Complex near the town of Thabazimbi, and the massive resource at the Booysendal platinum project, on the eastern limb. Northam also holds a 50% joint venture stake in the Dwaalkop project with Lonmin plc (Lonmin), along with a 7.5% stake in the Pandora joint venture with Anglo American Platinum Limited (Amplats), Lonmin and the Bapo ba Mogale mining company.
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